Brief: IDG and Sequoia seek stake in China’s biggest bitcoin mining operation

Rows of mining machines for litecoin, another cryptocurrency, in Bitmain’s facility in Ordos, Inner Mongolia. Photo credit: Tech in Asia.

The news (extracted from Bloomberg):

Sequoia Capital and IDG Capital are investing in Bitmain, the world’s largest bitcoin mining company, according to people familiar with the matter. Beijing-based Bitmain, which produces chips and machines for mining bitcoin and operates its own mining facilities, has benefited from the meteoric rise in the...

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