companies Insights

The First $10 Billion Revenue Blockchain Company

Beijing- based mining equipment seller Bitmain is on track to do potentially $10bn in revenue by the end of 2018. For reference, Salesforce in 2017 made $8.4bn in revenue.

We have learned that Bitmain’s Q1 revenue in 2018 was approximately $2bn. Despite seeing a slump of bitcoin prices since the beginning of the year, there is a likely chance that Bitmain will become the first company to achieve $10 bn in revenue should the cryptocurrency market picks up in the 2nd half of the year. Nvidia, a company based out of California that also makes computer chips, made $9.7bn in fiscal year 2018 (calendar year 2017). The company made $3.21bn in Q1 fiscal year 2019 (Feb -April 2018), and historical revenue figures show a general seasonal uptrend in revenue from Q1 through Q4.

Bitmain is looking to IPO in the range between $40–50bn per our sources. Bitmain’s revenue in 2017 was $2.5bn. And 2016 revenue was approximately ~$300mn. When contacted for this story, Bitmain said that it has no com...


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