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Facebook's Competitor and Largest Uber's Shareholder Invest In Bitmain

Published: 08/08/2018
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Up-to-date Blockchain and cryptocurrency news. Be the first to know!

What is it for?

One of the biggest miner manufacturers Bitmain managed to attract the largest Chinese technology corporation Tencent and Japanese TV and media giant Softbank as investors during the pre-sale IPO, CCN reports.

 

A preliminary round of investment sales of the initial Bitmain shares was completed on August 4. The participants included Chinese Tencent, whose capitalization competes with that of Facebook, as well as technological giant Softbank, the largest shareholder of Uber and the owner of the most popular Japanese mobile operator. Besides, Bitmain applied for listing on the Hong Kong Stock Exchange. Essentially, one of the oldest Chinese banks, China International Capital Corporation, will act as a guarantor.

 

Currently, Bitmain keeps on attracting investors to supply a $1 billion financing round, which will be placed on the Hong Kong Stock Exchange at the end of this year. After the completion of the financing, the company's capitalization is expected to reach $15 billion.

 

Since the beginning of 2018, Bitmain has received revenues of $1.1 billion. In June, the company's total capitalization before agreeing on financing of $400 million was estimated at $12 billion.

 

Earlier it was reported that British mining company Argo Blockchain would be the first crypto company officially recognized by the London Stock Exchange (LSE).

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Bitmain IPO China
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  1. Sarka:
    08/08/18 at 13:20

    My congratulations to Bitmain, it's a great oportunity to gain that sweet piece of pie in China.