Bitcoin miner Bitmain sees value soar to $12bn

Giant Bitcoin miner Bitmain is believed to have closed a funding round that puts the company’s value at $12bn.

The precise value of the series B round is unknown, but is believed to be roughly $300-$400m, according to Coindesk.

Investors are believed to include Singapore state investment fund EDBI, US hedge fund Coatue, and private equity firm Sequoia Capital China.

Bitmain pulled in $50m in a series A funding round roughly a year ago, led by Sequoia and IDG Capital.

Coindesk cites anonymous sources published Chinese news agency Caixin as saying that Bitmain is eyeing a public launch on the Hong Kong stock exchange in the near future.