Bitmain to Open Brazil Office, Reportedly Changes Silicon Valley Location
Cryptovest
Published Jul 18, 2018 06:28AM ET
Updated Jul 18, 2018 06:40AM ET
Bitmain to Open Brazil Office, Reportedly Changes Silicon Valley Location
China’s Bitmain, the top manufacturer of cryptocurrency mining hardware, is planning to open an office in Brazil, a company manager has told a local publication. Meanwhile, a US media report claims that Bitmain has moved its Silicon Valley base to a new location.
Citing communications manager William Davidson, Brazilian website Criptomonedas Facil said Bitmain would open an office in Sao Paulo, starting out with a relatively small-scale operation. According to Davidson, the Brazilian office will be offering support and sales of Bitmain’s crypto mining equipment.
Meanwhile, the Silicon Valley Business Journal reported that the company had rented a large space in the Riverpark office complex in downtown San Jose. Quoting inside sources, the publication said the building had sat empty for years due to the recession but has now been fully occupied, with Bitmain being the last one to rent space there. Previously, the company had offices in another location in the Silicon Valley – Sunnyvale. Bitmain did not respond to the publication’s requests for comments, but other sources said the company had moved in swiftly.
The latest Bitmain moves come just days after it transpired the company is expanding its research and development operations in Israel and is planning to triple the size of its staff there.
Bitmain was established in 2013 and is privately held. However, one of its co-owners, Jihan Wu, recently hinted at the possibility of an initial public offering (IPO), most likely in Hong Kong. The latest analysis estimated the company’s value at around $12 billion after a Series B funding round.
However, Bitmain is not only receiving investments but also making its own. On Tuesday, Cryptovest reported that Bitmain, together with hedge fund investors Peter Thiel, Alan Howard, and Louis Bacon, participated in the latest financing round of Block.one.
Earlier this month, the This article appeared first on Cryptovest 
Get The News You Want
Written By: Cryptovest
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.