Bitmain Completes Series B Financing

According to Caixin, Bitmain has recently completed its Series B financing, with a valuation of approximately US$12 billion. Investors in this round include Sequoia China, Coatue, a US hedge fund that has focused on investing in the TMT industry in recent years, and EDBl, a state-owned emerging market investment fund in Singapore.

It is reported that in September 2017, Bitmain received a US$50 million Series A financing from Sequoia Capital, IDG Capital and others. The Series B financing was still led by Sequoia.