Singaporean cryptocurrency mining machine manufacturer Bgin applies for listing in the US, plans to raise 50 million USD

Bgin Blockchain Limited, a cryptocurrency mining machine manufacturer headquartered in Singapore, has submitted an IPO application in the United States, expecting to raise 50 million USD. According to the documents filed with the SEC on February 21st, Bgin plans to issue approximately 59.54 million Class A common shares and 15.69 million Class B common shares and apply for listing on NASDAQ under the ticker "BGIN".

The company was established in 2019 and focuses on designing and selling mining equipment for alternative cryptocurrencies. In fiscal year 2023, it sold nearly 68,000 miners. Bgin also revealed that almost all of its revenue came from crypto mining in fiscal year 2022 and plans to use funds raised from the IPO for RD expansion. Recently, several other crypto companies are also planning US listings including eToro and BitGo etc.(Cointelegraph)