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.
Follow us on our Telegram channel.
Cashaa has come a long way in a short time. Ranking now in Top 20 of the 100 Most Influential Blockchain Companies Worldwide. Our team is comprised of the best. Brightest and most passionate people in the industry sharing the same vision of making blockchain application simple and accessible for the masses. Our team have more than 200+ Years of Payments and banking experience which includes executives from Fortune 100 technology companies, central bank and top academic institution.
POWERING FINANCIAL PRODUCTS FOR THE BANKED AND UNBANKED
Cashaa’s digital and transparent services are not only attractive for the banked population, but they can also deliver financial inclusion solutions to the 2.5 billion unbanked and 1 billion underbanked globally, thereby creating a unique cross-border platform which can serve the entire population.
FACILITATING LOW-COST CURRENCY EXCHANGES
Send money across borders quickly, for a fraction of the current costs. Our industry-leading technology platform powered by our traders network can protect your money and offer best foreign exchange (FX) rates every time you utilize Cashaa.