Bgin Blockchain, which makes equipment for cryptocurrency mining with a focus on alternative currencies, filed on Friday with the SEC to raise up to $50 million in an initial public offering.
Bgin Blockchain is a digital asset technology company with proprietary cryptocurrency mining technologies and a strategic focus on alternative cryptocurrencies. Through its operating subsidiaries, the company designs and sells mining machines equipped with Bgin's proprietary 8nm or 12nm ASIC chips under different series dedicated to the mining of KAS coins, ALPH coins, and RXD coins.
The Singapore-based company was founded in 2019 and booked $392 million in revenue for the 12 months ended June 30, 2024. It plans to list on the Nasdaq under the symbol BGIN. Chardan Capital Markets and The Benchmark Company are the joint bookrunners on the deal. No pricing terms were disclosed.
