Bixin, one of the oldest Bitcoin mining companies, created a new fund of 6600 BTC worth $ 66 million to invest.
Bixin, one of the oldest Bitcoin mining operators and wallet initiatives, has allocated 6600 Bitcoin worth 66 million dollars to a new fund.
According to the news in CoinDesk, on Friday, the company will invest in quantitative “trading” funds that adopt strategies such as arbitrage, Bitcoin futures and trend analysis. Bixin also aims to increase its Bitcoins.
“We strongly believe in Bitcoin”
Liu Fei, who passed from Huobi stock exchange to Bixin at the end of 2018 and is currently carrying out the duty of controlling the mining and support funds of the company, said, “We strongly believe in Bitcoin. And what we want to see is definitely not that the Bitcoin ecosystem is stuck in silos in China or another country! We hope that thanks to these funding supports, the Bitcoin ecosystem will have a better global liquidity structure. ”
Its founder started mining in 2009
Bixin was founded in 2014 by Wu Gang, which started mining as early as 2009. The company soon managed to become one of the best-known Bitcoin wallet and mining operators in China.
The company, which has grown its self-mining system investments in the bear market in late 2018 and early 2019, currently has approximately 300 megawatts of hours, roughly 3,000 ‘petahash’ (PH / s) computing power, which accounts for 2.5 percent of the total Bitcoin network. owns operating Bitcoin mining facilities.
Bixin established an investment and financial service department with its private capital in 2018. Thus, mining giant has invested heavily in China’s leading cryptocurrency startups, including MicroBT, the major rival of Bitmain.