Bgin Blockchain’s Nasdaq debut raised $30 million to fund mining facility construction and crypto chip R&D, while shares opened at IPO price and later fell over 17%.
Bgin Blockchain listed on Nasdaq Global Market on October 21 at $6 per share, matching its IPO pricing. The company issued 5 million Class A shares, raising $30 million to finance construction of mining facilities, research and development of new cryptocurrency mining chips, and other corporate purposes. On its first day of trading, the stock closed down 17.33% at $4.96.