Mining giant Bitmain attracts $1 billion of investment from Tencent

Verified
4 months ago
0

The largest provider of mining equipment Bitmain received an investment of $1 billion from the Chinese technological company Tencent and the Japanese telecommunications media corporation SoftBank. It was reported by the research department of the Bitmex exchange with reference to a local source.

It also became known that after the next investment round, the value of Bitmain is estimated at around $15 billion. In addition, the Chinese source confirms information on Bitmain’s preparation for the IPO, which will be held in Hong Kong in September.

A major investment company China International Capital Corporation (CICC), which specializes in providing financial services to institutional clients, was chosen as an underwriter.

In 2004, Tencent held an IPO on the Hong Kong Stock Exchange. By the end of 2017, the company, exceeding $500 billion in its market capitalization, ranked fifth in the world.