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Chinese Crypto Mining Company Poses a Threat to AMD and Nvidia

  • Beijing-based Bitmain selling new hardware for Ethereum mining
  • Competition may hurt demand for chipmakers’ GPUs, analysts say
Technicians inspect bitcoin mining machines at a mining facility operated by Bitmain Technologies Ltd. in Ordos, Inner Mongolia, China, on Aug. 11, 2017.

Technicians inspect bitcoin mining machines at a mining facility operated by Bitmain Technologies Ltd. in Ordos, Inner Mongolia, China, on Aug. 11, 2017.

Photographer: Qilai Shen/Bloomberg
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Advanced Micro Devices Inc. and Nvidia Corp. are feeling the heat from a Chinese adversary that they never imagined would become a competitor.

The chipmakers, which have seen a sales boost as cryptocurrency miners bought up their graphics processing units to solve complex calculations in an attempt to win digital tokens, now face a threat from Bitmain Technologies Ltd. The Beijing-based hardware maker just began sales of a more powerful new product for Ethereum mining.