95% of Bitmain's revenue comes from the sale of mining machines. It has opened 11 mining farms in the country.

95% of Bitmain's revenue comes from the sale of mining machines. It has opened 11 mining farms in the country.

According to Sina Technology, Bitmain disclosed its prospectus on the Hong Kong Stock Exchange today, with CICC as the exclusive sponsor.

According to the prospectus, since its establishment, Bitmain has focused on developing ASIC chips and ASIC-based mining machines suitable for cryptocurrency mining.

In 2017, mining machine sales accounted for nearly 90% of total revenue, and in the first half of this year, this proportion was close to 95%. According to Frost & Sullivan, based on revenue in 2017, Bitmain is the second largest Chinese and top ten global fabless chip design company, and the fourth largest global fabless ASIC chip design company. According to Frost & Sullivan, based on revenue in 2017, Bitmain is the world's largest ASIC-based cryptocurrency mining machine company, with a global market share of 74.5%.

As of June 30, 2018, Bitmain has opened 11 mining farms in China, located in Sichuan Province, Xinjiang and Inner Mongolia, which can accommodate and store approximately 200,000 mining machines. Bitmain also mainly operates two mining pools, namely BTC.com and Ant Pool, which are the world's first and second largest Bitcoin mining pools in terms of computing power.

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