Summary
- Singapore-based cryptocurrency mining equipment manufacturer Bgin Blockchain announced its pursuit of a U.S. Nasdaq listing.
- The company revealed plans to raise up to $50 million through the IPO by issuing Class A and Class B shares.
- Bgin Blockchain manufactures equipment specialized for Kaspa (KAS) and reported sales of approximately 68,000 units in 2023.
Bgin Blockchain, a Singapore-based cryptocurrency mining equipment manufacturer, is pursuing an Initial Public Offering (IPO) in the United States.
According to CoinTelegraph on the 24th, Bgin Blockchain submitted IPO-related documentation to the U.S. Securities and Exchange Commission (SEC) on the 21st for Nasdaq listing. According to the documents, Bgin Blockchain will issue 59.54 million Class A shares and 15.69 million Class B shares through this IPO.
The offering price has not been disclosed. Investment advisory firm Renaissance Capital projects that Bgin Blockchain could raise up to $50 million (approximately 70 billion won) through this IPO.
Bgin Blockchain, established in 2019, is a manufacturer specializing in cryptocurrency mining equipment for Kaspa (KAS). The company sold approximately 68,000 units of equipment in 2023.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
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