Bitmain manufactures Bitcoin mining hardware and provides mining pools for both businesses and individuals

Country: Chinabitmain
Year: 2013

  • PR: participate in Bitcoin mining for communication purposes.
  • Risk of network sustainability: as about 80% of Bitcoin exchange volume is driven by the Chinese yuan (Bitmain is an illustration of this trend), this progressive centralization of the Bitcoin network is a risk to take into account.

Concept

  • Mining stands for verification processes to validate Bitcoin transactions and provide the requisite security for the public ledger.
  • Bitmain is a manufacturer of Bitcoin mining hardware and software such as computing chips, high density server equipment, cloud hashing services, mining pools, and custom solutions for blockchain applications for businesses and individuals. Bitmain has customers in over 100 countries. Three product lines are available.
  • AntMiner sells various types of miners (or mining devices).
  • Antpool is a free and open-source mining pool that supports both stratum mining protocol (which means it collects all hashing power of miners to its servers and mines as a huge stratum miner) and P2P mining protocol (which prevents hashing power from being controlled by one central entity).
  • Hashnet is a cloud hashing platform where the users can participate in Bitcoin mining without maintaining the hardware themselves. They can access it online or via a mobile app.

Consumer Benefits

  • End-to-end: with its 3 product lines Bitmain provides an end-to-end mining services.
  • Decentralized: hardware is still available to “average” users, not only large companies, keeping Bitcoin decentralized.

How To Use

  • Users sign up online and access www.antminer.com to purchase mining devices, www.antpool.com to pool with other miners, or www.hashnest.com to start mining.
  • If help is required, users can access the online forum, contact the customer service, read the online tutorials on the site or download the PDF user guides of AntMiner devices.

Illustration

  • Video explaining what Bitcoin mining is

  • Video showing how the Bitmain Antrouter R1 works