Report: Mining Giant Bitmain Valued at $12 Billion in New Funding Round

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Report: Mining Giant Bitmain Valued at $12 Billion in New Funding Round

Chinese bitcoin mining giant Bitmain has reportedly closed a Series B round funding, which values the firm at approximately $12 billion.

Chinese business media Caixin reported on Friday citing anonymous sources familiar with the deal that although the exact number of the new equity financing is unknown, it’s somewhere between $300 million to $400 million.

According to the report, leading investors in the new round include Sequoia Capital China, U.S. hedge fund Coatue as well as EDBI, a Singapore government-backed investment fund.

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