July 6th, 2018
Bitmain Receives $12 Bln Financial investment in a Recent Funding Spherical
In accordance to Caixin, Bitmain lifted amongst $300 million to $400 million from Sequoia Funds subsidiary Sequoia China, U.S. hedge fund Coatue, and Singapore-based mostly governmental expenditure fund EDBI. In September 2017, Beijing-based Bitmain obtained $50 million in a Collection A funding round from Sequoia Money and IDG Money.
In early June, the company’s CEO Jihan Wu reported he is “open” to programs to carry out an initial general public supplying (IPO) in Hong Kong. Wu stated that an IPO in the area would be a appropriate suggests for making it possible for early buyers to hard cash in their funds.
In May perhaps, one particular of Bitmain’s key opponents, China-centered Canaan Imaginative, announced that it would begin an IPO on the Hong Kong Stock Exchange in July. In an job interview with Reuters in April, Canaan co-chairman Jianping Kong claimed, “We … like listing outdoors mainland China as we are in a world wide business.”
Started in 2013, Bitmain Technologies is a privately held corporation that develops Bitcoin mining hardware and ASIC chips. The agency reportedly held 70-80 % of the marketplace for Bitcoin mining components in February 2018. Bitmain also operates a person of the biggest Bitcoin mining swimming pools, Antpool. Before this year, the business was noted to be concerned in the growth of Ant Creek mining facilities in the U.S.