The startup is currently valued at $12 billion following last month’s $400 million funding round, which propelled Bitmain toward becoming one of the world’s most valuable privately-held technology startups. Recent reports also indicate that the firm’s valuation may grow to as high as $40 billion if they go public in the near future.
Bitmain’s latest expansion in San Jose will help the startup better manage its digital empire while avoiding the regulatory uncertainty surrounding the cryptocurrency industry in China. Mining centers in Quebec and Washington have also been opened.
Bitmain also recently started investing in major tech startups through its venture capital arm. The company previously led a $110 million funding round in Circle, a startup that operates cryptocurrency trading desks, investments, and exchanges. More recently, a $50 million investment in Opera web browser allowed Bitmain to obtain a stake in the company, which is developing a native Ethereum wallet into its browser.