According to bloomberg.com, Bitmain, a China-based mining giant, raises $50 million from a number of venture capital firms.
Among the participants of the funding are Sequoia Capital, ING Capital and several other undisclosed investors. It is also reported that the company intends to expand into production of chips for artificial intelligence and set up mining farms in the U.S. Furthermore, according to the information provided by the unnamed source, the investing companies also intend to offer Bitmain management advice as part of the deal.
Bitmain's Antpool chart on blockchain.info
As shown, Antpool, which is Bitmain's mining pool, is currently the second most powerful one. At the time of writing, Antpool, controlls 15.5% of the network's total hashing power.