Bitmain Moves to Brazil As the Business Expands
According to Bitmain’s - a leading company in manufacturing mining hardware- company manager’s statement to a local news portal they are going to erect a new office in Brazil. Also, an American news report announced that Bitmain may have changed Silicon Valley’s office elsewhere.
Bitmain Erects a scaled-down Office
And, according to a Brazilian crypto news portal, Bitmain is preparing to erect a scaled-down Sao Paulo office that will be handling sales and technical support activities for its mining hardware.
And according to some news sources, Bitmain had rented a big space in an office complex in San Jose called Riverpark, however, Bitmain hasn’t confirmed these allegations.
Bitmain’s Expansion Announcement
The company had released a statement announcing the expansion of its research and development activities in Israel a few days before news about its move from Silicon Valley.
Bitmain is a privately owned company that was established in 2013. Nevertheless, one of its co-founders is considering an IPO, that is most probably in Hong Kong. According to recent studies, the company’s approximate value after a Series B round is 12 Billion Dollars.
Bitmain makes its own funds as well as receiving them. One of the crypto news portals disclosed that Bitmain along with a few hedge fund investors recently engaged in the recent Block 1 financing round.
And, recently, Bitmain has proven to have made a profound statement as being a monopoly in the ASICs (application-specific integrated circuits) market.