Mining giant Bitmain receives US$50 million in financing round
Sequioa Capital and IDG Cpital are now both investing in Bitmain Technologies. The manufacturer of mining equipment has gained fame during the last Bitcoin Hard Forks, especially through its co-founder Jihan Wu. Jihan Wu openly advocated supporting Bitcoin Cash.
According to information available on the Bloomberg news portal, 50 million US dollars are said to have flowed into the mining company from various venture capital firms. Further information is not yet known. Sequoia and other companies also want to support the company with better management.
After the last increase of Bitcoin to just under 75 billion US dollars, the company also evaluates its own value in billions of dollars. According to Bloomberg TV, Bitmain is also considering an IPO in the near future and plans to produce computer chips for artificial intelligence. In addition, investments are to be made in mining farms in the USA.
Founders Jihan Wu and Zhan Micree became well known in the last debate about Bitcoin and Bitcoin Cash during the Hard Forks era. Wu, who was particularly in favour of a block enlargement, pursued an aggressive tactic with Roger Ver, which was supposed to divide the Bitcoin community lastingly.
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