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In case you missed it: Major Crypto and Blockchain News from the week ending 12/14/2018

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submitted by QuantalyticsResearch to CryptoCurrency [link] [comments]

Bitmain Raises $400 Million in Pre-IPO Funding, Now Valued at $12 Billion: Report

https://preview.redd.it/idmn8yynmf311.jpg?width=760&format=pjpg&auto=webp&s=8345ae872ab639dccd2ae603b5f9972323adee2d
Bitmain, the dominant force in bitcoin mining, has reportedly raised $400 million as it gears up to go public later this year.
Regional media outlet China Money Network reports that the funding round, which values the China-based firm at $12 billion, was led by Sequoia Capital China, a VC that has been quite active in the nascent cryptocurrency space. Bitmain has not yet confirmed the funding round publicly.
The $12 billion valuation matches Bitmain’s internal estimates but exceeds that of many external analysts, who estimated that the firm was worth between $8.8 billion and $10 billion.
According to the report, Bitmain plans to hold an initial public offering (IPO) on the Stock Exchange of Hong Kong in September and expects to go public with a market cap between $30 billion and $40 billion.
Bitmain, which was founded in 2013, designs application-specific integrated circuit (ASIC) chips and manufacturers cryptocurrency miners. It currently controls 80 percent of this market, though a number of upstart competitors hope to chip away at its dominance.
Bitmain’s largest competitor, Canaan Creative, recently filed to hold an IPO in Hong Kong. The firm, whose devices account for roughly 15 percent of the bitcoin mining market, believes it can raise as much as $2 billion through the offering.
If Bitmain’s IPO is successful, the firm would not only be the most valuable public cryptocurrency company but would also be worth more than two times as much as chipmaker AMD, which has a $14.8 billion market cap and has also benefitted from the cryptocurrency mining boom.
As CCN reported, Bitmain has also begun to design ASIC chips for artificial intelligence-related applications, and CEO Jihan Wu has said that this field could account for 50 percent of the firm’s revenue within five years.
Earlier this year, Bitmain led a $110 million funding round for US cryptocurrency firm Circle, which operates an over-the-counter (OTC) trading desk, a retail-focused brokerage app, a cryptocurrency exchange, and plans to build a USD-pegged “stablecoin.”
Notably, Sequoia Capital China is currently embroiled in a legal battle with cryptocurrency exchange Binance — formerly based out of Hong Kong — who the VC firm has sued for allegedly violating an exclusivity agreement stemming from fundraising discussions held in 2017.
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submitted by W12io to u/W12io [link] [comments]

Global Blockchain Mining Corp. (CSE:FORK) New Listing Bitcoin Mining Explained What Is Bitcoin Mining How Bitcoin Works Under the Hood part 1 Bitcoin Earning Methods and ASIC MIning Farm (URDU PAKISTAN) Top Best ASIC Devices for Bitcoin Mining -- Latest Mining Devices Application-specific integrated circuit New Bitmain Bitcoin Miner - Most Powerful One Yet? L3+ Setup Guide and Profit Comparison NEW FREE BITCOIN CLOUD MINING SITE QUICKBTC MAKE MONEY ONLINE 2020 EARN BTC

Binance will seinen ersten Crypto-Minen-Pool freigeben . Binance plant die Freigabe eines eigenen Minenpools mit vier Münzen in Südkorea, der die erste für den beliebten Krypto-Tausch ist. In Berichten der russischen Krypto-Newsagentur Coinlife wurde am Dienstag über die Gründung eines Minenpools durch Binance berichtet, und die Nachricht bei Bitcoin Evolution wurde von mehreren anderen ... The ecosystem has spread as Graphics processing unit (GPU), and Application-specific integrated circuit (ASIC) chip manufacturers are making lots of money from the mining industry. AMD, Nvidia ... Bitmain and Canaan Creative Set to Launch new and improved 5-nanometer application-specific integrated circuit (ASIC) chips in the first quarter of 2020. Photo about Cryptocurrency mining equipment - ASIC - application specific integrated circuit on farm stand gain money. Image of dollar, currency, electric - 104707094 For the review period, Ebang, which makes application-specific integrated circuit (ASIC) chips used in bitcoin mining, reported total operating expenses of $7.71 million compared to $9.60 million ... According to Bloomberg, Bitmain controls as much as 80% of the market for bitcoin mining equipment. The company’s Application-Specific Integrated Circuit (ASIC) chips are the industry’s ... Application-Specific Integrated Circuit (ASIC) An Integrated Circuit customized for maximum performance in a particular use, rather than general-purpose use. Arbitrage . Buying and selling of assets over different markets in order to take advantage of differing prices on the same asset. ASIC-resistant. An ASIC-resistant cryptocurrency has its protocol and mining algorithm configured in such a ...

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Global Blockchain Mining Corp. (CSE:FORK) New Listing

L3+ Setup Guide and Profit Comparison The BM1485 ASIC chip Finally an ASIC chip to mine Scrypt coins The BM1485 chip, the first Litecoin Application Specific Integrated Circuit (ASIC) chip in more ... Our ASICS, application-specific Integrated Circuits is the most popular method for free bitcoin mining. ASICS chips are the same as CPU computers but different is that the sole purpose of it is ... ASIC means application-specific integrated circuit- so these devices are engineered to mine Bitcoin and only mine Bitcoin. This creates an extremely powerful, and efficient machine, over 100x ... An application-specific integrated circuit (ASIC) /ˈeɪsɪk/, is an integrated circuit (IC) customized for a particular use, rather than intended for general-purpose use. For example, a chip ... The new Bitmain Bitcoin Miner the ASIC BM1391 7nm unit at face value appears to be the most efficient and powerful one yet. With a reported J/TH of 42j/TH, that is about %44 more efficient than ... Bitcoin generally started with individuals and small organizations mining. At that time, start-up could be enabled by a single high-end gaming system. Now, however, larger mining organizations ... The company is initially focusing on mining Bitcoin utilizing Application Specific Integrated Circuit mining rigs. If you want to get started with mining your own Bitcoin (BTC), these days you need ASIC (application-specific integrated circuit) devices, which are specifically built for the purpose. Today's modern and best bitcoin mining hardware Application-specific integrated circuit (ASIC) miners have taken over completely. These ASIC machines mine at unprecedented speeds while consuming ... 1:53 Application-Specific Integrated Circuit chips, or ASIC for short, are designed to specifically tackle Bitcoin mining. ASIC technology has made Bitcoin mining reach all-time speeds while ...

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