Bitmain leads $110 million investment in cryptocurrency exchange Circle

According to foreign media reports, Bitcoin mining giant Bitmain led a $110 million investment in mobile payment and cryptocurrency trading company Circle Internet Financial. This round of investment values ​​Circle at approximately $3 billion.

Circle uses blockchain technology to provide P2P payment services and also provides over-the-counter cryptocurrency trading services.

Circle co-founder Jeremy Allaire said the company achieved positive cash flow for the first time last year. Between December and February, Circle processed $75 billion in cryptocurrency transactions and generated $250 million in operating income. He also said the company's users grew fivefold to 7 million last year.

According to its official website, Circle's investments also include Goldman Sachs, Baidu, CreditEase and IDG Capital. Circle was founded in 2013.

Bitmain was founded in early 2013 and focuses on the research, development and sales of Bitcoin mining chips and mining machines. The company strives to further promote the decentralization of Bitcoin through more cost-effective mining machines and provide more convenience and benefits to miners around the world.