The Silicon Valley Business Journal reports that the world’s largest manufacturer of equipment for mining company Bitmain has opened an office area of 20,000 square feet (1,900 square meters) in downtown San Jose, California. The Chinese company took the last of the proposed to lease space in an office building Riverpark Towers, which has become a hub for a number of technology startups including Okta, Cohesity and WeWork.
The appearance of Bitmain office in Silicon valley is not surprising. In June, the company completed a round of financing, bringing $400 million and are now estimated at $12 billion. So, now Bitmain is not only the most expensive cryptocurrency company in the world, but also one of the most expensive private technology startups. Representatives Bitmain believe that in the near future, becoming public, the company is estimated at $40 billion.
Although the term “decentralization” is the mantra of the cryptocurrency ecosystem, enterprises in this sector still tend to place their offices and production facilities nearby with colleagues from the global technology sector.
Perhaps the opening of a new giant office indicates that attempts Bitmain to achieve a more effective management of the growing digital Empire. The group’s expansion in North America, particularly in Washington and in the canadian Quebec, partly due to the uncertain situation in China.
In addition, Bitmain has started to make big investments in other technology startups. The appearance of the company’s office in Silicon valley will play into the hands of its venture capital unit.
This year Bitmain led the round of funding, the cryptocurrency startup Circle $110 million recently acquired a cryptocurrency exchange, has launched an investment application and plans to create stablon tied to the U.S. dollar.
Bitmain recently invested $50 million in the Opera browser, bought a controlling stake in the company. Not too popular in the West, the popular browser in Africa. In addition, behind him, the Norwegian company also acquired on the African continent multiple platforms of mobile payments. After Bitmain has invested in Opera, news of the imminent inclusion in the browser Ethereum wallet.
This week it became known that Bitmain, along with PayPal co-founder Peter Thiel has invested in blockchain startup Block.one behind the EOS project.
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