The world’s largest manufacturer for crypto-Mining Equipment, Bitmain obviously wants to extend its tentacles even further. How on 17. August it became known that the company invests in a Start-up that offers a block chain-based solutions for data storage.
The Beijing-based crypto-company Bitmain is primarily known as a manufacturer of Mining equipment and operators of large Mining Pools ntpool.com, BTC.com and ConnectBTC.com known. Thus, the company is apparently quite good. Until the beginning of the month, it was announced that Bitmain was able to score in the first quarter of this year, a tidy profit of US $ 1.1 billion. After all, the company has a 75 percent market share in the production of ASIC Chips and Mining Hardware from almost a monopoly position. Now, it has invested in the Blockchain data storage Start-up Lambda.
An extension of the portfolio?
To be launched at the beginning of the month of August, Lambda’s own Initial Coin Offering (ICO). In this case, the Start-up was able to capture investments from well-known institutions, such as FunCity Capital, BlockVC, blue hill, Zhen Fund, Metropolis, VC, Dfund, DATA Foundation, and more. The biggest success of the ICOs is likely to be in the investment by Bitmain. According to the press release from the 17. August will use Lambda for the further production of safe block chain-based infrastructures, and decentralized applications (DApps). It is not surprising that Lambda-CEO Xiaoyang particularly pleased about the funding provided by Bitmain:
“This investment by a global industry leader is an important validation and recognition of Lambdas long-standing commitment to the development of a Prime block chain-based storage solution.”
Also Bitmain will be happy with the Lambda to work, could expand the company to its Portfolio. The decision seems to be aware of the Start-up from Singapore like, as a spokesman for the Mining manufacturer said:
“Data storage is an interesting area of development in the Blockchain infrastructure, and Lambdas technology vision, their pragmatic Roadmap and the current progress were key factors for us.”
Bitmain was only in June of this year, in the course of the planned IPO, investors ‘ funds to collect. Alone the investment company Seqouia Capital was started with US $ 400 million.