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Bitmain Ranks First Among Top Blockchain Financing Projects in China’s Primary Market

September 6, Cnfin.com, the financial branch of Xinhua News, has jointly released the list of the Top 20 Blockchain Financing Projects in the Domestic Primary Market in August 2018 with Rhino Data, a financial data company driven by big data.

According to the data provided by Rhino, majority of financing projects coming up this month are still in their early-stage, with a large amount of new projects keep popping up. The gathering effect of the blockchain project on talents and fund raising is still very impressive.

Rhino reported that, the angel round of funding accounted for 15 of the total, with three Pre-A round of funding and one strategic investment event. Bitmain’s $1 billion Pre-IPO financing dominates the blockchain-related financing in August.

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The amount of financing gradually shrinks in the previous month. All the financing projects have been roughly divided into three echelons, there are two projects with over 100 million yuan financing; five projects with financing amount of 50 million to 100 million yuan; and the remaining 13 projects with financing amount less than 50 million yuan, among them, 7 out of the 13 projects’ financing amount is less than 10 million yuan.

The underlying technology of the blockchain is based on open source, sharing and consensus, and requires more applications to reflect its true value. The projects of the month are mainly target the application development, which is more in line with the rationalization of the ecological layout.

According to the layout of listing projects in the blockchain industry, there are 9 application development projects; 4 projects of underlying technology, computing power services and security services; 3 trading platform and asset management projects; 3 media and community service projects and 1 hardware development project.

A saying goes that, “when a thing is rare, it becomes precious.” Bitmain, the world’s largest cryptocurrency mining company, also has many shiny labels such as chips, blockchains, Internet, patents, and the “big player”, is in a dominant position among these 20 blockchain projects.

Bitmain is now valued at $15 billion after closing its pre-Initial Public Offering (IPO). It was also reported that the firm is going to complete the listing processing by the end of 2018.

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