Investors learned that Bgin Blockchain (BGIN.US), a company focused on alternative cryptocurrency mining equipment, debuted on the Nasdaq on Tuesday with an initial public offering (IPO) priced at $6 per share, the midpoint of its previously announced range of $5 to $7. The company issued 5 million shares, raising $30 million. On its first day of trading, the stock fell 17.33% to close at $4.96. Bgin Blockchain is a digital asset technology firm that owns proprietary cryptocurrency mining technology, emphasizing alternative cryptocurrencies. Historically, almost all its revenue stemmed from cryptocurrency mining; however, since April 2023, sales of mining machines have become its primary revenue source. Through its operating subsidiaries, the company designs and sells mining machines equipped with Bgin's self-developed 8nm or 12nm ASIC chips, which are part of different series specifically intended for mining KAS, ALPH, and RXD coins. These devices are sold exclusively through its official website, with clients predominantly located in Hong Kong, the United States, and Southeast Asia. Currently, Bgin is hosting a total of 4,020 devices for clients, located in Nebraska and Iowa. Data shows that Bgin Blockchain, established in 2019, achieved revenues of $302 million for the 12 months ending December 31, 2024.