A leading manufacturer of equipment for mining bitcoin and other cryptocurrencies Bitmain Technologies has received $400 million from the Chinese units of the venture capital firm Sequoia Capital. This writes the China Money Network, citing local media.

According to the publication, financing made in preparation for Bitmain to the IPO, then the investment valuation of the company rose to $12 billion.

Also, the publication confirms the company’s intention to hold an IPO in Hong Kong. It is assumed that the output Bitmain on the stock market in September, and by the end of 2018, the company’s capitalization will grow to a level between $30 billion — $40 billion.

Official comments from Bitmain at the moment didn’t arrive.

Recall, the company Bitmain Technologies Ltd was founded in 2013 and is the largest manufacturer of equipment for mining using ASIC technology. Also in plans there is market entry artificial intelligence.

Earlier in June, co-founder of Jihan Wu confirmed that the IPO is considered Hong Kong or any other foreign market where the stock trading is conducted in US dollars. Then he called among potential investors Sequoia Capital and IDG Capital.