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Author Topic: [2018-07-07] Bitcoin Mining Giant Bitmain Worth $12 Billion After Latest Funding  (Read 29 times)
BitcoinArsenal
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July 07, 2018, 01:09:00 PM
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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

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July 08, 2018, 05:44:00 PM
 #2

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, 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.

Very interesting to see a nation-state investing in a Bitcoin mining company! Bitcoin bears, watch out...

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