Singapore cryptocurrency mining machine manufacturer Bgin applies for US listing, plans to raise $50 million

Odaily Planet Daily News: Singapore based cryptocurrency mining machine manufacturer Bgin Blockchain Limited has submitted an IPO application in the United States, expected to raise $50 million. According to the filing submitted to the SEC on February 21st, Bgin plans to issue approximately 59.54 million shares of Class A common stock and 15.69 million shares of Class B common stock, and apply for listing on NASDAQ under the stock code "BGIN". The company was founded in 2019 and focuses on designing and selling mining equipment for alternative cryptocurrencies. In the 2023 fiscal year, it sold nearly 68000 mining machines. Bgin also revealed that almost all of its revenue for the 2022 fiscal year comes from cryptocurrency mining, and plans to use the funds raised from the IPO for research and development expansion. Recently, several cryptocurrency companies are also planning to go public in the United States, including eToro and BitGo. （Cointelegraph）