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Bitcoin Nouveau Riche: Bitmain CEO Jihan Wu Appears on Forbes’ 2019 List of World’s Youngest Billionaires

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✅😎These crypto billionaires can afford plenty of Lambos even when cryptocurrency prices remain in the doldrums
Bitcoin Nouveau Riche: Bitmain CEO Jihan Wu Appears on Forbes’ 2019 List of World’s Youngest Billionaires
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Jihan Wu, the CEO of Chinese mining giant Bitmain, has made the cut on Forbes’ list of the richest people under 40. Wu, 33, was among the newcomers along with Juul Labs CEO James Monsees, 39, who made vaping cool in 2018.

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The youngest crypto billionaires  

Despite the fact that Bitmain’s IPO plans have been called into question due to numerous scandals and layoffs, the company’s CEO remains one of the richest individuals in the crypto industry with a net worth of $1.5 bln. Coinbase CEO Brian Armstrong, 36, is also among the wealthiest young billionaires in the world with his riches sitting at $1.3 bln.

The wealthiest people in crypto

Micree Zhan, another Bitcoin CEO, boasts an almost two times bigger fortune ($2.7 bln), but he didn’t make it to the list since he had already turned 40. Ripple’s Chris Larsen, who became the first person from the crypto industry to appear on Forbes 400 in 2018, saw his net worth declining from $2.1 bln to $1.9 bln.

Zuck is in the lead

Facebook CEO Mark Zuckerberg, 34, remains the richest billionaire under 40 with a whopping lead (Forbes pegged his fortune at $62.3 bln). Meanwhile, Kylie Jenner, a reality start turned a cosmetics mogul, was crowned as the world’s youngest self-made billionaire.
 

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Alex Morris

Bitcoin Mining Revenues Drop to 19-Month Low, but There Is a Silver Lining

👷🏻‍♂️🖥️✊After raking up almost $1 bln in mining revenues back in January 2018, miners have to deal with much smaller numbers
Bitcoin Mining Revenues Drop to 19-Month Low, but There Is a Silver Lining
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The total mining revenue fell to a 19-month low back in February, a recently published Diar report shows. However, the silver lining is that gross margins (the difference between revenue and the cost of equipment) increased to 39 percent in February.

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Top Cryptocurrencies by Mining Revenue in 2019: Bitcoin (BTC), Ethereum (ETH), Zcash (ZEC), Litecoin (LTC), and Bitcoin Cash (BCH)

A steep decline

Bitcoin miners earned slightly more than $190 mln this February, which is a world of difference compared to the $516.6 mln they raked in last year. This January, miners managed to make $210 mln (compared to an eye-popping $951 mln in 2018).   

Firing up the latest ASICs

The aforementioned report also shows that the flagship Bitmain Antminer S15 generates more return than the previous-generation Antminer S9. The Bitcoin network is currently powered by bleeding-edge equipment.   

A spending spree  

As Bitcoin’s 2020 halving is looming, it is clear that only the strongest ASIC will provide the required amount of hashing power. With miner margins shifting back into growth, large mining operations will fork out top dollar to stay above the fray.

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