Bitmain to Receive $1B Investment

Funds received from chinese technology company Tencent and the Japanese telecommunications media corporation SoftBank
06 August 2018   1876

Within the series C financing round, the largest manufacturer of mining equipment Bitmain received an investment of $ 1 billion from the Chinese technology company Tencent and the Japanese telecommunications media corporation SoftBank. This was reported by the research department of the Bitmex exchange with reference to a local source.

It also became known that after the next investment round, the value of Bitmain is estimated at $ 15 billion. In addition, the Chinese source confirms information on Bitmain's preparation for the initial public offering (IPO), which will be held in Hong Kong in September.

As the lead underwriter, a major investment company, China International Capital Corporation (CICC), was selected, which specializes in providing financial services to institutional clients.

In 2004, Tencent held an IPO on the Hong Kong Stock Exchange. By the end of 2017, the company, in its market capitalization exceeding $ 500 billion, ranked fifth in the world

Litecoin to Implement Reward Halving Successfully

Block reward was reduced from 25 LTC to 12.5 LTC on block 1,680,000
06 August 2019   118

Today, on August 5, the reward for the Litecoin block for miners was halved.

Halving happened on block 1,680,000, changing the block reward from 25 LTC to 12.5 LTC. The next halving will take place in four years - tentatively on August 2, 2023, as a result of which the block reward will decrease to 6.25 LTC, making digital silver even more scarce.

Litecoin Block Reward Halving Countdown
Litecoin Block Reward Halving Countdown

According to litecoinblockhalf, 75% of the total Litecoin supply has been mined so far. The current inflation rate of the coin is 4.26%, and after four years it should drop to 1.80%.

Many investors were sure that the market had long “digested” the positive expectations in connection with a decrease in cryptocurrency emissions and expected either a sideways price movement or even a decrease in the LTC rate.