Bgin Blockchain, which manufactures the equipment of the exploitation of cryptocurrencies by focusing on alternative parts, lowered the proposed size of the agreement for its next IPO on Friday. In its latest file, the company also disclosed finance for the financial year ended December 31, 2024 and replaced Bookrunners Chardan Capital Markets and the Benchmark Company by D. Boral Capital. His last amendment was filed in March 2025.
The company based in Singapore now plans to collect $ 36 million by offering 6 million shares to a price range from $ 5 to $ 7. The company had previously filed a request of 6.25 million shares at a range of $ 7 to $ 9, although it undertook a share division of 1: 1.4375 since then. On an adjusted divided basis, its new terms represent a 33% drop in shares offered and an 8% increase in the price of the offer offered in the middle.
In the middle of the revised beach, Bgin Blockchain will increase 28% less in the product than expected and will order a market value of $ 685 million (+ 5% compared to the original conditions).
Bgin Blockchain is a digital asset technology company with owner cryptocurrency mine technologies and a strategic concentration on alternative cryptocurrencies. The company had previously generated almost all of its income from the mining of cryptocurrencies, but since April 2023, sales of mining machines have become its main source of income. Thanks to its operational subsidiaries, the company designs and sells mining machines equipped with ASIC chips owners of 8 nm or 12 nm of BGIN under different series dedicated to the extraction of KAS parts, ALPH parts and RXD parts. These machines are available for purchase only via its website. Customers are mainly based in Hong Kong, the United States and Southeast Asia. Bgin is currently hosting a total of 4,020 machines (located at Nebraska and Iowa) on behalf of its customers.
Bgin Blockchain was founded in 2019 and reserved $ 302 million in revenue for the 12 months enclosed on December 31, 2024. He plans to list on the Nasdaq under the BGIN symbol. D. Boral Capital is the only book book in the agreement.
