Mining Company Bitmain Valued at $12 Billion

in #crypto4 years ago

The funding for the latest round of Chinese Cryptoconjency Mining Giant, BitMain has been valued at $ 12 billion. According to local news organizations in the recent series B round fund, the company has raised between $ 300 million and $ 400 million in the new fund, which is part of a Singaporean government from the US-based hedge fund's Kotui, Sequoia Capital China and ADBI. -investment funds

bitmain_1.jpg

The final round of funds is much larger than a fund in the previous series, of which it increased by $ 50 million in July 2007 and Sequoia was also a major contributor to IDG Capital. Funding series B is considered as pre-IPO round funding, which will encourage enough for IPO plans. Planning to share Hong Kong stock exchange shares in a strong future.

BitMine cryptocoucher is a significant power in the mining sector. It is known as the 21 ISOS block producer of Bitcoin Blockchain and the single most powerful missile. Between two mining pools, antipul and BTC.com, there are 15 and 23 percent control of total bittakayana hashing power. It also has shares of Vibbit, which controls about 10 percent of Bitcoin's hash power.

So technically, with all the combined hash power in Bitcoin network, BitMine can pull 51 percent of attacks. But his co-founder Jihanu insulted the newspaper and claimed that BitMain would be fooled to carry out such an attack because economic results would be very high.

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