Bitmain is looking for $1 billion financial investment for its IPO


Bitmain recently been recognized as one of the largest companies, completely focused on cryptocurrency business and classified as “unicorn” in China.

Now, according to a Chinese news publication TouchWeb, capabality Bitmain mining giant intends to raise another $1 billion investment in a new round of financing IPO.

Bitmain is a highly profitable company for mining Bitcoins, which is based in China. However, the scope of interest is not limited exclusively to mining. The company successfully develops computer chips specially designed for mining industry. At this time, it is the largest producer of ASIC miners for Bitcoin mining.

The need to attract investment

Registering huge earnings in the amount of $2.5 billion after founding in 2013, now it is expected that its level will increase to $15 billion, if the company achieves its objectives by raising funds. In June Bitmain has completed a series B funding of $400 million allocated Sequoia Capital.

It is reported that Bitmain also aims to launch an initial public offering of assets (IPO) in Hong Kong. Their application for the listing of the shares on the Hong Kong stock exchange will be presented in August. If the offer is accepted, the IPO launch is expected by the end of 2018.

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