9 months ago

The Japanese media corporation SoftBank officially denied its participation in the investment deal with the largest mining equipment manufacture Bitmain.

Information on the participation of Tencent and SoftBank in the financing of Bitmain appeared at the beginning of the month. Then it was reported that Tencent and SoftBank invested $1 billion.

According to the chief strategic director of blockchain-related company Blockstream Samson Moe, Bitmain is increasing the pace of financing due to unsatisfactory financial results of the second quarter. He estimates the company’s losses at $600-700 million.