Jihan Wu’s Bitmain Invests In Blockchain Data Storage Startup Lambda

As the world’s largest producer of integrated circuits and hardware for cryptocurrency mining, Bitmain has been steadfast to suggest that the idea behind blockchain and storage creates an area of interest worth exploring.

Bitmain was impressed with Lambda’s development and unique business plan and did not hesitate to mention the startup’s technology vision, practical roadmap, and its progress as-at-the-moment, highlighting its main reason to offer its unlimited backing to Lambda. The company is reported as saying, “We look forward to working with Lambda.”

Lambda’s backing by Bitmain adds to the Beijing-based firm’s list of projects that the organization is supporting this year. Having already staked $500 million towards the construction of a data and mining facility in Texas, Bitmain is not stopping there. Earlier this month, the organization invested $3 million in TribeOS, another startup that facilitates ad fraud prevention through a blockchain-based framework. Bitmain has also invested in Circle, Block.one and Opera.

While Bitmain continues to build a reputation through its startup investing programs, it’s also believed to be in the process of launching a $3 billion public offering on the Hong Kong Stock Exchange (HKEX) this coming month.

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Disclaimer: This is not a recommendation to buy or invest in any cryptocurrency or asset mentioned in this article. Traders should do their own research before investing.

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