Three major Chinese Bitcoin mining firms have become China’s first crypto unicorns, with a value of over $1 billion. The companies along with several other Bitcoin mining firms have featured in Hurun Research Institute’s Q2 Unicorn Index.
The Shanghai-based research institute published the index for Greater China region on Wednesday. The Hurun Research Insititute’s list, which names over 130 Chinese unicorns, has never featured a firm that’s completely focussed on cryptocurrency.
Ranking highest of the three, Bitmain appears at 13th on the list with a valuation of around 70 billion yuan, or about $10.4 billion, close to other notable companies such as JD Logistics.
The ranking follows recent news indicating that Bitmain has completed a Series B round funding that could value the firm around $10 billion ahead of a potential initial public offering (IPO).
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