SoftBank Denies Investing in Pre-IPO Bitmain
A SoftBank official has made clear that neither the SoftBank Group Corporation or the SoftBank Vision Fund were involved with Bitmain.
- Aditya Worah
- Aug 19, 2018
- Dec 04, 2024
A SoftBank official has made clear that neither the SoftBank Group Corporation or the SoftBank Vision Fund were involved with Bitmain.
Bitmain’s latest innovation is the introduction of cryptocurrency mining routers. The two Bitmain routers have been named Antrouter R3-DASH and Antrouter R3-SIA.
Bitmain has now been planning to launch an Initial Public Offering (IPO). Reportedly, investment giants Tencent and SoftBank are backing this idea.
The TV set called AvalonMiner Inside set has a hash rate (computing rate) of 2.8 trillion hashes per second whereas the most powerful mining hardware my Canaan has a hash rate of 11 trillion hashes per second.
Latest reports indicate that Bitmain, which made $1.1 Billion in the first quarter of this financial year, is all set to file for an IPO shortly.
In what appears to be a pre-IPO funding, Bitmain has raised $400 Million - thanks to a major funding from Sequoia Capital. Bitmain is now worth $12 Billion.
Jihan Wu is looking forward to taking Bitmain beyond the crypto markets - and considering to launch an IPO in Hong Kong that will take the company public!
Nvidia recorded a revenue of $3.21 Billion in Q1 2018. Out of these $3.21 Billion, $289 Million came from sales to those involved in cryptocurrency mining.
China’s second largest cryptocurrency mining hardware manufacturer Canaan Creative is all set to launch an IPO in Hong Kong. The company intends to raise $1 Bn.
Josh Cincinnati, Executive Director of the Zcash Foundation stated that improving ASIC resistance has become an immediate technical priority for the foundation!
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