Bitmain Supports Blockchain Service Storage Of Lambda Company Data

Pursuant to Finance Magnates the biggest producer of mining equipment Bitmain put  an unnamed amount of money in a data-storage-related Lambda startup.

Previously this month, Lambda launched its own initial coin offering (ICO) after the private sale was completed. The company acquired investments from a lot of well-known institutions and organizations.

According to the information mentioned on the Lambda website, the company specializes in blockchain-based infrastructure solutions, including decentralized applications for confidential data storage that have “unlimited scalability.”

Founded in 2013, Bitmain develops bitcoin-mining equipment and ASIC chips. The Beijing company was valued at about $ 12 billion after the round of funding for the B series in July. Bitmain recorded a net profit of over $ 1 billion in the first quarter of 2018, while in annual terms, net profit is estimated to reach $ 2 to $ 3 billion.

In September, Bitmain plans to raise $ 3 billion during the IPO. However, CoinDesk claims that the Chinese giant intends to raise $ 18 billion, resulting in the company’s capitalization from $ 40 billion to $ 50 billion.

Also earlier, ForkLog reported that according to many experts, Bitmain in the second quarter of 2018 suffered significant losses due to the excessive dominance of Bitcoin Cash in the investment portfolio.

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