Bgin Blockchain’s $50 Million IPO: What This Means for the Crypto Industry

Bgin Blockchain Plans Major Nasdaq Listing — Will It Revolutionize Crypto Mining?

Bgin Blockchain – Singapore-based cryptocurrency mining hardware manufacturer Bgin Blockchain Limited has filed for an Initial Public Offering (IPO) in the United States, aiming to raise up to $50 million. The company submitted its filing on February 12, 2025 with the U.S. Securities and Exchange Commission (SEC). The offering will include 59.54 million Class A ordinary shares and 15.69 million Class B ordinary shares. Bgin also plans to list its Class A shares on the Nasdaq under the ticker symbol ‘BGIN’.

Bgin’s Business Focus and Operations

Founded in 2019, Bgin specializes in developing mining hardware for alternative cryptocurrencies. The company designs and sells mining rigs tailored to specific cryptocurrencies such as Kaspa, Alephium, and Radiant (RXD). Bgin also operates a mining equipment hosting service, managing thousands of mining rigs on behalf of customers, primarily in Nebraska and Iowa. Additionally, its subsidiaries manage 33,862 active mining rigs across various U.S. locations, with 12,000 non-operational units stored in the U.S. and Hong Kong.

Revenue and Future Plans

In its filing, Bgin disclosed that nearly all of its revenue in 2022 came from cryptocurrency mining activities. However, in April 2023, the company began selling its own mining machines, which accounted for over 85% of its revenue that year. A portion of the funds raised from the IPO will be used to expand the company’s research and development efforts.

Growing Trend of Crypto Firms Going Public

Bgin’s decision to go public is part of a broader trend where cryptocurrency-related firms are exploring public listings. This trend has been particularly notable following Donald Trump’s election victory, with his expressed support for the domestic crypto sector. Companies like eToro and BitGo are also considering IPOs in the near future.

Bgin’s IPO marks a significant milestone in the growing interest in the cryptocurrency space, reflecting the increasing integration of crypto firms into traditional financial markets.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.