PlayIconNav
BTC
$98,174.60+0.46%
ETH
$3,298.43-1.15%
SOL
$255.74+3.56%
BNB
$618.51-0.31%
XRP
$1.41+25.30%
DOGE
$0.39575240+2.02%
CD20
$3,237.90+5.10%
ADA
$0.89204574+11.82%
TRX
$0.19690871-1.63%
AVAX
$37.78+5.97%
SHIB
$0.00002446-1.12%
WBTC
$97,443.48+0.31%
Ad
Markets
Election 2024

Bitcoin Mining Giant Invests $1.6 Million in Trading Platform

Beijing-based mining giant Bitmain has invested $1.6m in bitcoin data and trading services provider BitKan.

By Pete Rizzo
AccessTimeIconApr 14, 2016 at 8:08 p.m. UTC
Updated Aug 18, 2021 at 4:46 p.m. UTC
Presented By Icon

Election 2024 coverage presented by

Stand with crypto
screen-shot-2016-04-14-at-1-54-48-pm

Beijing-based mining giant Bitmain has invested $1.6m in bitcoin-focused data and trading services provider BitKan.

Bitmain

VolumeMuteUnmute

Guild of Guardians Built to 'Win' the Web2 Mobile Space: Game Director

  • Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
    13:18
    Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
  • Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
    05:10
    Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
  • The first video of the year 2024
    04:07
    The first video of the year 2024
  • The last regression video of the year 3.67.0
    40:07
    The last regression video of the year 3.67.0

    • was the sole investor in the Series A round, which follows an angel round investment from Lanqi Venture Capital Investment last November. Based in Shenzhen, BitKan offers bitcoin data and pricing services, and recently launched an over-the-counter (OTC) bitcoin trading service.

    Founded in 2013, BitKan was launched by former employees of China-based IT giant Huawei. The firm offers Google Play and iTunes apps, and the startup hopes to leverage its existing reach to encourage trading on its platform.

    The firm said in statements that the investment and the new trading feature represent a formal change in the company’s business strategy, one that positions it more as a competitor to existing peer-to-peer bitcoin trading services.

    A spokesperson told CoinDesk:

    "The new feature, when leveraging BitKan's existing user base and news and price charting functionality, holds great potential that has already been demonstrated by services with similar functionality such as LocalBitcoins."

    In addition to manufacturing mining hardware, Bitmain also operates Antpool, the world’s largest bitcoin mining pool at press time with 28% of the network’s hashrate.

    The investment finds Bitmain becoming increasingly willing to invest its funds in the wider bitcoin ecosystem, following its participation in a March funding round for smart contract platform Rootstock and its February investment in Israeli payments service Simplex.

    Image via BitKan

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information have been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation. Bullish was incubated by technology investor Block.one.

    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.