According to Bloomberg, China-based mining company Bitmain will receive a $50 million investment from a number of venture companies.
Bitmain, one of the world’s largest Bitcoin mining and Bitcoin hardware manufacturers, is part of a plan to raise the profile among its investors. will increase its funding. Participants include Sequoia Capital and ING Capital.
Bloomberg also stated that the company plans to expand chip production for artificial intelligence and set up mining farms.
According to a source not named in the report, Bitmain is willing to offer management advice as part of the deal.
Looking at Bitmain’s mining pool, where miners have a better chance to solve blocks and get Bitcoin rewards. It is the second most powerful organization globally. Antpool controls 15.3% of the total hash power of the network.
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