DST Global, Tencent And SoftBank All Deny Investing In Bitmain

Investment firm DST Global has officially denied taking part in mining giant Bitmain’s pre-IPO funding. Chinese investment conglomerate Tencent and Japanese SoftBank have also refuted their involvement in the company’s Series C funding round, Cointelegraph reports on Wednesday, August 22.

“I can confirm that DST has never invested in Bitmain.” – said John Lindfors, a managing partner at DST Global.

A pre-IPO valuation of Bitmain was supposed to reach as much as $15 billion after Tencent’s and SoftBank’s $1 billion investment that actually never was.

Earlier this week CSO of Blockstream Samson Mow claimed that Jihan Wu and his team had revised down year revenue from $8 billion to $3 billion.

I’m hearing something similar from my sources too. https://t.co/JA0OBOLff1

— Samson Mow (@Excellion) 20 августа 2018 г.

Mow also estimated Bitmain’s Q2 net loss at $600-$700 million because of the massive Bitcoin to Bitcoin Cash swap and Antminer’s price collapse.

Bitmain’s Hong Kong IPO presumably will take place in September with different reports cite either $3 billion or $18 billion as a target.

Considering recent statements from DST Global, Tencent and SoftBank, the current valuation of the mining giant isn’t entirely clear, but Bitmain still ignores multiple requests for comments.

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