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. 

About Bitmain

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.

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