Bitcoin Mining Firms Join Unicorn List For The First Time

Who doesn’t want to be a unicorn? For the first time ever, three Bitcoin mining companies have entered the “unicorn” list, a list of private companies that are valued at more than $1 billion USD. The list is made by the Hurun Research Institute, an institution based in Shanghai and it is published based on the Greater China region.

The three companies that were named for the Q2 Unicorn Index are Bitmain, Canaan Creative and Ebang. The list has other 130 companies that were never listed before.

As expected, Bitmain, which is the largest miner in the world, ranks on top of the list among its class of company. Bitmain appears at 13th with a valuation of 70 billion yuan, about $10.4 billion USD and it is close to other companies like JD Logistics.

There is news that Bitmain has recently completed its Series B funding round and that the company may have an Initial Public Offering (IPO) soon, which can make the value of the company go even higher.

The list values Canaan at $3 billion USD and Ebang at $1.5 billion USD, putting them on 32nd and 53rd in the list. Both companies have, according to reports, filed applications to go public on the Hong Kong Stock Exchange, which could also affect their prices. Canaan has grown a lot recently, as it was valued at around $500 million USD during mid-2017.

Blockchain is the technology of the moment and the list proves it, as not only three of the new billionaire companies are from this area but two companies that are on the list have recently invested in blockchain technology.

Ant Financial, a payment affiliate of Alibaba that has a value of $149 billion USD, has announced last month that it has created a blockchain payment corridor between Hong Kong and the Philippines. The other one is OneConnect, valued at $7.4 billion USD, is a fintech company that has helped to engineer a blockchain finance trade platform.

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