Bitmain Acquires Bitcoin Cash Wallet
Open source browser-based cryptocurrency wallet Telescope has officially announced its acquisition by Bitmain Technologies Inc., the world’s largest crypto mining rig manufacturer, which also runs one of the world’s most extensive cryptocurrency mining pools. The move comes at an important time for Bitmain, which is increasing its involvement in the bitcoin cash space as it continues to reinvent itself as more than just an ASIC maker ahead of its planned mega-IPO in Hong Kong.
Telescope is a browser-embedded cryptocurrency wallet that currently allows users of Google Chrome and Mozilla Firefox to send and receive BCH through a browser extension. Set up earlier in 2018 by former IBM software engineer Aaron Angert, Telescope also offers support for BitPay and MoneyButton. While it is currently optimized for Chrome and Firefox, the plan is for the application to eventually offer full support for other leading browsers as the project grows.
Telescope transaction keys are saved in the application’s browser extension, and then transactions are signed by the user’s browser directly and sent to a BCH block explorer....
Bitmain Becomes Biggest Blockchain Conglomerate Following Series B Funding
Bitmain's series B funding closes to create the largest global cryptocurrency conglomerate in China.
China’s dominant bitcoin mining manufacturer has become the largest crypto conglomerate in the world after securing a new round of Series B funding.
Bitmain Expands Influence
Caixin news agency reported last week that Bitmain has secured between $300 million and $400 million in new funding from Sequoia China, U.S. hedge fund Coatue and Singapore-based EDBI, effectively becoming the largest cryptocurrency company in the world. With the latest round, Bitmain’s total value has swelled to $12 billion.
Bitmain is making waves across the blockchain industry, having recently announced plans to purchase roughly 43% of Opera Ltd., a Norway-based internet browser that has filed for an initial public offering with Nasdaq.
Back in May, the company led a $110 million financing round for Circle, an influential cryptocurrency company with backing from Goldman Sachs and others. In an official announcement, Circle said Bitmain’s stake in the company will allow it to expand critical infrastructure needed to power the crypto economy:
“Bitmain Co-founder and CEO Jihan Wu is well known for espousing a vision similar to ours regarding the creation and adoption of a new global economy powered by cryptographic...