Bitcoin Layer2 BEVM Announces Investment from Bitmain

2024-04-29 21:59:03

BTC Layer2 project BEVM has officially disclosed an investment from Bitmain, the leading manufacturer of cryptocurrency mining servers globally. The precise amount of the investment remains undisclosed.

Established in 2013, Bitmain still stands today as a significant figure in the digital asset mining hardware production space. Its Bitcoin mining machines previously commanded over 70% of the global market share. Notably, this marks Bitmain’s sole investment in the Bitcoin Layer2 domain to date.

Gavin Guo, Core Builder of BEVM Foundation, remarked, “Next, BEVM will delve into exploring Bitcoin hashrate and the PoW eco’s application on BEVM, that could help facilitate the migration of trillions of dollars in PoW hashrate assets and a substantial quantity of $BTC to BEVM. This will empower Bitmain assets and unlock liquidity and more diverse financial application scenarios within the BTC Layer2 network.”

BEVM serves as the pioneer EVM-compatible Bitcoin L2 network founded on the Taproot Consensus, utilizing BTC as Gas. Leveraging native Bitcoin technologies such as Schnorr Signature, MAST, and Bitcoin Light Node Network, it achieves fully decentralized BTC cross-chain functionality, thereby enabling the trustless integration of BTC into a broader spectrum of applications and facilitating genuine BTC liquidity circulation

BEVM launched its mainnet on March 28th, boasting over 700,000 user addresses and hosting more than 30 eco projects. BEVM also recently announced it had secured tens of millions of dollars in financing, with investors including RockTree Capital, Waterdrip Capital, Arkstream Capital, ViaBTC Capital, and nearly 20 other institutions, resulting in a post-investment valuation of $200 million for the company.

For further information about BEVM, please visit www.bevm.io or contact [email protected]

Media Contact: Jhon Zhang

Email: [email protected]

Follow Us on Google News Disclaimer: The text above is an advertorial article that is not part of Cryptonews.com editorial content.

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.