MBMC Observation: Crypto Miner Manufacturer Bgin Blockchain Scales Down IPO, Now Aims to Raise $36 Million

Deep News

Oct 29

Singapore-based Bgin Blockchain Ltd. (Nasdaq: BGIN) has successfully listed on the Nasdaq exchange. The company initially filed confidentially with the SEC on September 20, 2022, and publicly disclosed its prospectus on February 21, 2025.

Bgin Blockchain priced its IPO at $6 per share, offering 5 million shares to raise $30 million. The digital asset technology company specializes in cryptocurrency mining hardware and holds proprietary mining technology. Historically focused on altcoins, Bgin leverages its expertise in ASIC chip and mining rig design to capitalize on emerging mainstream crypto opportunities while maintaining self-operated mining as a long-term strategic priority.

Operating under its ICERIVER brand, Bgin designs and manufactures mining equipment while providing operational flexibility through advanced mining infrastructure and hosting services. The company was co-founded by Qiuhua Li (Tongji University graduate) and Qingfeng Wu (Xidian University graduate).

On its first trading day (October 21, 2025), BGIN shares closed at $4.96, down 17.33%, giving the company a current market capitalization of approximately $566 million.

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(Nasdaq: BGIN) has successfully listed on the Nasdaq exchange. The company initially filed confidentially with the SEC on September 20, 2022, and publicly disclosed its prospectus on February 21, 2025.\nBgin Blockchain priced its IPO at $6 per share, offering 5 million shares to raise $30 million. The digital asset technology company specializes in cryptocurrency mining hardware and holds proprietary mining technology. Historically focused on altcoins, Bgin leverages its expertise in ASIC chip and mining rig design to capitalize on emerging mainstream crypto opportunities while maintaining self-operated mining as a long-term strategic priority.\nOperating under its ICERIVER brand, Bgin designs and manufactures mining equipment while providing operational flexibility through advanced mining infrastructure and hosting services. 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