BitMain 's co-founder and co-CEO Micree Zhan is a low profile billionaire with a net worth of around $4 billion dollars. Forbes reported Zhan's fortune by applying the price to sales ratios in comparison with other crypto company's like Nvidia, AMD, Qualcomm, and Cisco.
BitMain Technologies Limited was founded by Jihan Wu and Micree Zhan. The company is an operator of Antpool, a bitcoin mining pool giant. The company currently has offices in China, the US, Israel, the Netherlands, and Switzerland.
It is originally created to develop application-specific integrated circuit (ASIC) chips used in Bitcoin mining who later on ventured in developing mining software as well. The company is on the venture of creating chips for artificial intelligence.
The company is in the news spotlight lately because of its upcoming IPO. Wu can be spotted on most of the media coverage brought upon by the attention given to the company. Zhan, however, is much more of a low profile guy but he owns a bigger share in the company than Wu.
Based on the leaked pre-IPO investor deck, the silent billionaire is the technical mastermind of the company and he owns the 36.58 percent of the shares in the company while Wu's share is 20.5 percent.
The China-based company is sure of their projection that they will reach a $14 billion market capitalization once they publicize their product. The figure will increase Zhan's shares to at least $5.1 billion and Wu's are around %2.9 billion.
Based on the expert's analysis, Forbes estimated Zhan's network to be around $4 billion and Wu's at around $2.3 billion.
The Forbes noted that there are no directly comparable companies based on the fact that the nature of Bitcoin is unique. The lists of countries in comparison to Bitmain was picked because they have the same nature of the business. They are all selling chips and hardware but they also outsourced their company's production to a different company.
Bitmain is not only an outsourcing type of a company parts of its income comes from its mining pools, the BTC.Com and the Antpool. According to Mark Li, a senior technology analyst at Sanford C. Bernstein & Co, the popularity and unpredictability of its current industry also make the application of the mining chips are uncertain.
Despite being the technical backbone of the company, Zhan remained unknown to the public. Zhan is the engineer who developed the (ASIC) chips.
