Bitmain: The World’s Largest Cryptocurrency Company To Invest Heavily In EOS

By Khushboo Chadda

BTC Wires: Block.one, the firm behind the development of EOS, has received significant investment from billionaire investor Peter Thiel and Bitmain, largest cryptocurrency company in the world is valued at $12 billion. As per Jihan Wu, co-founder, and CEO of Bitmain, released an official statement stating that over the last year there have been significant innovations in the EOS protocol. The focus of these innovations has been the creation of a scalable ecosystem for commercial decentralized platforms and applications. Wu was quoted as saying that “The EOS protocol is a great example of blockchain innovation. Its performance and scalability can meet the needs of demanding consumer applications and will pave the way for mainstream blockchain adoption.”

Brendan Blumer is the CEO of Block.one, which has managed to raise adequate capital throughout its year-long $4 billion ICO. She emphasized that Block.one is at present more inclined towards working with those strategic investors who are in alignment with the values and vision of the EOS community. He further added that “As Block.one prepares to announce its future plans, we’re excited to welcome key strategic investors aligned with our values of creating a more secure and connected world.”

Ever since Bitmain formed its investment arm in 2018, it has evolved into a proper conglomerate and has been pursuing large-scale investments and acquisitions. A public cryptocurrency exchange and wallet platform, Circle, was quoted saying that “Bitmain Co-founder and CEO Jihan Wu is well known for espousing a vision similar to ours regarding the creation and adoption of a new global economy powered by cryptographic assets, distributed contracts, and open source blockchain technology. We are excited to be working directly with Bitmain on realizing our shared vision.”

The recent investment made by Bitmain into Block.one is the second biggest multi-million-dollar investment in the crypto sector during the last three months. Previously Bitmain had invested $50 million with Opera, the famous web browser. Though mining equipment manufacturing business and investment business are two core verticals of Bitmain, the acquisition of a stake in Block.one is aimed to help the company expand its footprint in blockchain and crypto sector.

Khushboo Chadda

Khushboo Chadha is a passionate blockchain enthusiast who firmly believes in the extraordinary potential of the technology.

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