• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: BREAKING: Saylor's Strategy Misses S&P 500 Inclusion, Robinhood Takes Spotlight
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: BREAKING: Saylor's Strategy Misses S&P 500 Inclusion, Robinhood Takes Spotlight

Bitmain Adds 5 New Billionaires to China’s Wealthiest List

Melanie Kramer
by Melanie Kramer
6 years ago
·
Posted in Bitcoin Businesses, ASIC miners, Companies, Mining, News, News teaser
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

China’s latest rich list for 2018 sees five billionaires joining China’s wealthiest for the first time thanks to Bitmain’s market lead on cryptocurrency mining.


The Hurun Research Institute 2018 Hurun Rich List now includes Bitmain’s founders, CEO and Vice President. The five have a combined wealth equalling nearly $9 billion USD.

Bitmain Billionaires

Though Jihan Wu is the name most associated with Bitcoin, co-founder Ketuan Zhan is the largest shareholder of Bitmain. Wu owns 20.25 percent and Zhen 36 percent. Co-founder Zhaofeng Zhao owns 6.26 percent.

According to the Hurun Rich List Zhan is worth over $4 billion, Wu over $2 billion, and Zhao with Bitmain colleagues Yuesheng Ge and Yishuo Hu coming in at under one billion in USD, but hitting the list as billionaires in Chinese yuan.

Cryptocurrency Mining Market Dominance

Wu, an analyst, and equity fund manager translated Satoshi Nakamoto’s Bitcoin white paper into Chinese and, convinced by Bitcoin’s potential, pitched the idea of developing ASIC chips to Zhan. Bitmain was created in 2013 and has the monopoly on ASIC miner machinery as well as running Antpool, one of Bitcoin’s most powerful mining pools.

Bitmain’s monopoly on ASIC miners covers 75 percent of the global market with a market value of over $2 billion. Since 2017 Bitmain has raised nearly $800 million in funding. Since June 2018, Bitmain has been spending on deals and acquisitions including purchasing a stake in web browser Opera.

Financial Disclosure and IPO

Bitmain is set to make around $10 billion in revenue this year and could be worth between $12 and $18 billion. Recent fundraising by Bitmain, with a target of $1 billion is part of a pre-IPO strategy. Bitmain plans to take the company public, by listing on the Hong Kong Stock Exchange, plans that have been open to debate due to Bitcoin’s recent losses. It seems the IPO is set to go ahead later this year.

The mining giant reportedly holds a balance of around $900 million in cryptocurrency assets compared to just over $340 million in fiat currency.

Bitmain Looking to Launch Canadian Bitcoin Mining Operation

Bitmain’s two closest rivals, Canaan Inc. and Ebang International Holdings are also planning IPOs in Hong Kong with a similar strategy to raise funding to pursue market dominance.

In anticipation of the IPO, Bitmain publicly disclosed its finances for the first time following a KPMG audit.

Joining Bitmain’s leaders on the 2018 Hurun Rich List are also Binance CEO Changpeng Zhao, OKCoin founder Star Zu, and Ebang International Holdings founder Nangeng Zhang.

Recently Ripple co-founder Chris Larsen made the Forbes 400 rich list, making him the first to join the list with wealth earned solely from cryptocurrency. Larsen is worth around $2.1 billion.

Do you think 2019 will see more crypto billionaires emerge? Share your thoughts below!


Images courtesy of Bitcoinist archives, Shutterstock

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Melanie Kramer

Melanie Kramer

Follow

Full Profile

Related Posts

solana-analyse-tendance-leviers-techniques

Solana en route vers les 300 $ : analyse de la tendance des leviers techniques

4 days ago
Bitpanda

UK Listing? Not For Bitpanda—Liquidity Concerns Derail Plans

1 week ago
stablecoins

Yuan-Pegged Stablecoins On The Horizon As Beijing Rethinks Policy

2 weeks ago
Bitcoin

Strategy’s Bitcoin Gameplan Faces Dark Outlook As Expert Warns Of ‘Spiral Of Doom’

2 weeks ago
Coinbase

Coinbase Drops $3 Billion To Snag Deribit In Major Crypto Shake-Up

3 weeks ago
Thumzup

$50M Deal: Trump’s Thumzup Media Partners With Coinbase To Expand XRP Holdings

3 weeks ago
Please login to join discussion

Premium Sponsors

Press Releases

  • minwer

    XRP Holders Can Earn $10,000 a Day Through COME...

    7 hours ago
  • BTC prices hit a two-week high, and holders flocked to GMO...

    7 hours ago
  • miner

    Cardano (ADA) Market Outlook: Long-term Potential Passive...

    7 hours ago
  • etnminer

    How to Play to Earn Crypto in 2025: Discover 6 Most...

    13 hours ago
  • miner

    BAY Miner Cloud Mining App Launches with ETH and BTC Users...

    13 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.