Bitmain Giant Miner Receives Nearly 400 Million Dollars of Investment, Says IPO

The Bitcoin mining giant, Bitmain, has just completed a round of financing worth 12 billion US dollars.

The ASIC chip developer and mining pool operator was founded in 2013. A Bernstein Research report published in February 2018, estimated that Bitmain's profits represent approximately 70-80% of the Bitcoin mining equipment market.

According to reports published by Chinese news agencies, Bitmain recently obtained between $ 300 and $ 400 million in funding from Sequoia China, an American company … based on the Coatue hedge fund, and the fund of Singapore-based investment EDBI.

Sequoia Capital, the parent company of Sequoia China, has invested in technology companies that today account for about $ 1.4 trillion in stock market value. Since 1972, he has invested in more than 250 companies, including Apple, Google, PayPal and Instagram.

Coatue is a technology-driven hedge fund with badets under management rising to $ 15 billion. It has a specific hybrid fund that focuses on high-growth pre-IPO startups.

Bitmain also raised $ 50 million in a previous round of financing in September 2017, this time from Sequoia Capital and IDG Capital. Bitmain CEO Jihan Wu said he was willing to launch an initial public offering (IPO) for Bitmain in Hong Kong to allow early investors to cash in their funds. .

The CoinTelegraph reports of March 2018 also indicate that Wu is the only "Governor" of Washington, United States, Ant Creek LLC, which is developing a multimillion-dollar blockchain facility at the Port of Walla Walla, Washington .

Bitmain holds a 42% share of hashpower on Bitcoin blockchain by managing the Antpool and BTC.com mining pools. He also has stakes in another pool, ViaBTC. The combined share is estimated at 48% or more of the entire Bitcoin blockchain.

The scope of the cryptographic business does not stop there, Bitmain is now one of the 21 block producers on the EOS blockchain, with 51,000 votes. This gives Bitmain a significant influence on the development and construction of EOS.

Bitmain, operating under the name of Tospring Technology Ltd., is also committed to investing $ 50 million in the Opera Web browser. The investment will be used by Opera to increase brand awareness and for research and development in its artificial intelligence-based content discovery technology. Opera represents about 1.5% of the Internet browsing market with a claimed user base of 350 million. In January, Opera added crypto-encryption protection in the browser for its users.