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Title: [2018-07-07] Bitcoin Mining Giant Bitmain Worth $12 Billion After Latest Funding Post by: BitcoinArsenal on July 07, 2018, 01:09:00 PM Bitmain, the Bitcoin mining behemoth, is now reportedly valued at $12 billion. This new valuation comes after the company closed a $400 million Series B funding round. Bitmain, which controls a major chunk of the Bitcoin mining hashrate, is also set to invest in the upcoming Opera browser IPO.
Full article on Bitcoinist (https://bitcoinist.com/bitmain-worth-12-billion-bitcoin-mining/) Title: Re: [2018-07-07] Bitcoin Mining Giant Bitmain Worth $12 Billion After Latest Funding Post by: squatter on July 08, 2018, 05:44:00 PM This article left out the most interesting piece of all. Look at the top investors:
Quote According to local news sources in China, Sequoia Capital, Coatue, and EDBI were among the leading firms in the Series B funding. EDBI is backed/controlled by the Singaporean government. The chairman of EDBI's board is also chairman of Singapore's state Economic Development Board (http://www.bloomberg.com/profiles/companies/9254405Z:SP-edbi-pte-ltd), a government agency. The Economic Development Board is tasked with "planning and executing strategies to sustain Singapore as a leading global hub for business and investment." EDBI is known as one of the venture capital arms of the Singapore Government (https://www.aseantoday.com/2017/03/venture-capital-arms-of-the-singapore-government/). Very interesting to see a nation-state investing in a Bitcoin mining company! Bitcoin bears, watch out... |