Deals
Sequoia, IDG to Invest in China Bitcoin Mining Giant
- Bitmain is said to raise $50 million for AI expansion
- Bitmain produces bitcoin mining machines, runs mining pools
Go Inside One of the World's Biggest Bitcoin Mines
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Sequoia Capital and IDG Capital are investing in Beijing-based Bitmain Technologies Ltd., the world’s largest bitcoin mining organization, according to people familiar with the matter.
Bitmain is raising $50 million from several venture firms to boost its profile among mainstream investors, said one of the people, who asked not to be named because the matter is private. Sequoia and the other firms also plan to provide the company with more guidance on management, the people said.