Bitcoin Hardware Manufacturer Bitmain Made a Profit of up to $4 Billion Last Year260.04

If Bernstein's figures are accurate, Bitmain pulled in the same amount as Nvidia last year. Bernstein calculates Nvidia to have made $3 billion in 2017, but points out that it took 24 years for the company to attain that profit level; Bitmain has achieved the same feat in just four years. For most of this period, Bitmain insisted on taking payment in bitcoin only, and later in bitcoin cash. According to Bernstein, Bitmain's dominance of bitcoin mining and ASIC manufacture stands at around 70%. One of the reasons why Bitmain has been so immensely profitable is that it has been able to hike the price of its Antminers in response to bitcoin's rise, while the manufacturing costs have remained the same.
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