On 17^th August 2018, bitcoin mining giant Bitmain reportedly staked an undisclosed amount towards the development of a “secure” blockchain-based infrastructure and decentralized applications on Lambda, the Singaporean startup revealed.

Bitmain’s Lambda investing marks the company’s latest move to grow its blockchain-based infrastructure and decentralized applications (dApps).

Although Bitmain’s input is a big boost to Lambda, it is not the only company with interests to invest in the startup. FunCity Capital, BlockVC, BlueHill, and Zhen Fund are among other institutions that have been pulled by the company’s tokenized private sale. The startup is reportedly gearing for an initial coin offering (ICO) and plans to raise $5 million towards the initiative.

According to Xaioyang He, the CEO of Lambda, Bitmain’s push to expand dApp blockchain companies like Lambda demonstrates the company’s commitment to recognize and endorse leading blockchain-based storage solutions.

Xaioyang said, “Bitmain has demonstrated its commitment to expanding strong, dApp blockchain companies such as Lambda.” The CEO continued by saying “This investment from a global industry leader is a significant endorsement and recognition of Lambda’s longstanding dedication in creating a world-class blockchain-based solution.”

The Singaporean startup has recently made headlines as a “high-speed, secure and scalable blockchain infrastructure.” The organization is emerging as a center for trusted and secure data storage, public data access and transaction, privacy data protection, infinite scalable dApp and support for blockchain. Lambda’s blockchain infrastructure is also defined for IoT and artificial intelligence data.

While the entire concept by Lambda is an applicable solution to the ever-growing technology in the modern world, its subject on infinite scalability has attracted a huge following. The startup says that it “logically decouples and separate implementation of Lambda Chain and Lambda DB” in order to achieve ‘infinite scalability.’

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.