Bitmain being the most expensive company in the cryptocurrency industry, ahead of a planned IPO opened a new office in Silicon valley.
A magazine on business issues, “Silicon Valley” reported that the largest manufacturer of equipment for mining Bitmain, just moved from China to 20,000 square feet of office space in downtown San Jose, California,occupying the last vacant office in the building City Riverpark Towers, which became a center for tech startups including Okta, Cohesity and WeWork.
The emergence of Bitmain in Silicon valley is not surprising. The company currently is estimated at $ 12 billion following the completion of a round of funding last year in the amount of $ 400 million, making it not only the most expensive company in the field of cryptocurrency, but also one of the biggest startups in the world. While the company believes that in the near future will be able to achieve assessments in the amount of up to $ 40 billion.
Although decentralization — the mantra of the ecosystem of cryptocurrency, companies in this sector still tend to focus on a single area with representatives of the broader technology industry.
In the case of Bitmain cause expansion, most likely, was the need to better manage its growing digital Empire. The company locates in North America, partly due to the uncertain future of the industry in China, opening mining centers in the state of Washington and in Quebec (Canada).
Bitmain has also started to make major investments in other technology start-UPS, and moving to Silicon valley, of course, will benefit the company.
Recently, Bitmain has invested 50 million dollars in the Opera browser, having a controlling stake in the company. Although niche in Western markets busy with other browsers, Opera is widely used in Africa. Shortly after Bitmain has invested in Mozilla, the company announced that integrates its own Ethereum wallet in your web browser.
This week, Bitmain, along with one of the founders of PayPal, Peter Thiel, led the funding round for the startup Block.one who created the cryptocurrency EOS.