Bitmain Seeks $1 Billion New Pre-IPO Funding

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Bitcoin mining giant Bitmain is now aiming to raise another $1 billion through its new pre-IPO funding, shortly after it completed a Series B funding of US$300-400 million headed by Sequoia Capital.

According to Chinese news source Touchweb, the new one-billion fund will be completed by the end of this month and will boost its valuation rise up to US$15 billion.

The leading investors in this round of capital raising include Sequoia Capital Chain, U.S. hedge fund Coatue and Singapore state-run investment fund EDBI.

Bitmain is a highly profitable Bitcoin mining company that is based in China, but to confine it to a mere mining company would be..

Read More: https://news.bitzamp.com/bitmain-seeks-1-billion-new-pre-ipo-funding/