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The Silicon Valley Business Journal has confirmed that China-based cryptocurrency mining hardware giant Bitmain has relocated to a 20,000 square foot office space in downtown San Jose, California.

The startup is currently valued at $12 billion following last month’s $400 million funding round, which propelled Bitmain toward becoming one of the worldā€™s most valuable privately-held technology startups. Recent reports also indicate that the firmā€™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 inĀ 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.

Bitmainā€™s latest investmentĀ was inĀ, the startup behind theĀ EOSĀ blockchain ecosystem, which was also joined by billionaire investorĀ Peter Thiel.

More:Ā Chinese cryptocurrency giant fills last vacancy in downtown San Jose office tower
Related:Ā 5 things to know about Chinese bitcoin giant that’s moving into San Jose


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