Mining Giant Bitmain Now Valued at $15 billion After Successfully Completing its Pre-IPO Round
Bitmain, the largest Bitcoin [BTC] mining company, and Application-Specific Integrated Circuit [ASIC] chip producer have completed its pre-IPO round.
The latest round reportedly closed on Saturday and saw participation from a number of high-profile investors, including Tencent, Softbank, and China Gold.
Bitmain is now reportedly valued at $15 billion after closing its $1 billion pre-initial public offering (IPO) funding round.
The company is set to conduct its IPO in the next few days and is set to be applying for the IPO through the Hong-Kong Stock Exchange in the month of September.
Bitmain CEO Jihan Wu said that an IPO in the region would be a suitable means for allowing early investors to cash in their funds.
The Bitcoin mining company is set to go public by the end of this year.
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