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Manufacturers
Business Description
Bitmain, founded in 2013 and headquartered in Beijing, designs and manufactures ASIC mining hardware for Bitcoin and other proof-of-work cryptocurrencies, distributing under the ANTMINER brand to customers in more than 100 countries.
The ANTMINER product line covers more than a dozen proof-of-work algorithms. Bitcoin-focused hardware has cut energy consumption with each generation: the S19 series (2020, ~30 J/TH), S19 XP (2022, ~20 J/TH), S21 family (2023, ~10 J/TH), S21 XP Hyd (473 TH/s, 12 J/TH), and the current flagship ANTMINER S23 Hyd (580 TH/s, 9.5 J/TH) alongside its rack-dense 3U variant (1,160 TH/s at 9.5 J/TH). The S23 Hyd is the first SHA-256 miner shipped commercially below the 10 J/TH threshold. Non-Bitcoin hardware covers Kaspa (KS7), Litecoin/Dogecoin (L9), Ethereum Classic (E11), Monero (X5), Kadena (KA3), and Alephium (AL1), among other networks.
ANTSPACE infrastructure enclosures extend the ANTMINER line into turnkey cooling systems. The ANTSPACE HK3 hydro-cooling container houses up to 210 mining units at 1 MW of operating capacity and switches between water-evaporation and air-cooling modes seasonally. Bitmain also markets the ANTSPACE HW5 (hydro), ANTSPACE MD5 (immersion), and ANTSPACE HD5 (hydro container) configurations, plus the ANTRACK V1 and V2 rack-scale hydro cabinets. Post-sale support includes an Advance Replacement Service that ships substitute units from regional HUB warehouses within one to two business days, supplemented by shipping-based and on-site repair programs.
Bitmain holds an estimated 45%+ share of global ASIC Bitcoin mining hardware shipments. Together with MicroBT and Canaan, the three Chinese manufacturers account for roughly 97% of worldwide supply. R&D centers operate in Beijing, Shanghai, Shenzhen, and Singapore. ANTPOOL, one of the largest Bitcoin mining pools by hashrate, and BTC.com were both spun off as independent entities: ANTPOOL in May 2021 and BTC.com in January 2021. The company entered AI silicon in 2018 with the Sophon BM1680 neural processor; that division has since been restructured under the SOPHGO brand.
Bitmain has raised approximately $765 million in total disclosed funding. A Series B round implied a $14.5 billion valuation; a pre-IPO financing round closed in July 2025 at a reported $15 billion. The company remains privately held. A 2018, 2019 effort to list on the Hong Kong Stock Exchange did not conclude, and a confidential SEC F-1 filing in 2019 similarly did not advance to a public offering. In July 2025, Bitmain announced plans to open its first U.S. headquarters and assembly facility in either Texas or Florida, targeting production ramp in 2026 and initial hiring of approximately 250 manufacturing and maintenance roles.
