For the first time, bitcoin mining projects have been added to the list of “unicorns” – a rating of privately owned companies valued over $1 billion.
Climbing up to the Top
Hurun Research Institute based in Shanghai published a report featuring 3 Chinese cryptocurrency companies: Bitmain is ranked 13th on the list since its value reached as much as 70 billion yuan (approximately $10.3 billion). Two other firms to be listed are Canaan Creative valued at $3 billion and Ebang worth circa $1.5 billion, which are at the 32nd and 53rd positions respectively.
Initial Coin Offerings Right Around the Corner
Caanan and Ebang have applied for going public on the Hong Kong Stock Exchange and carry out Initial Coin Offerings (ICO), while Bitmain has already completed a Series B round funding that could value the project roughly $10 billion ahead of a potential initial public offering (IPO).
These three companies are the first bitcoin firms to appear on the Greater China Unicorn Index.