According to a new report by Bernstein Analysts, a Beijing-based Bitcoin mining startup called Bitmain made as much as Nvidia last year. The analysts calculated that Bitmain made $3 billion to $4 billion in operating profit in 2017, which is what Nvidia is also estimated to have made during the same period.
The Bernstein analysts said, "Bitmain achieved this in merely four years, while it took Nvidia 24 years to get here." In case you're wondering, Bitmain was founded by Jihan Wu and Micree Zhan in 2013. The company has since grown into one of the primary firms involved with Bitcoin mining process.
