Big Investors Deny Involvement In Crypto Miner Bitmain’s Pre-IPO Funding

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Tencent Holdings and SoftBank Group are both disputing their involvement in a widely reported pre-IPO investment round for Chinese cryptocurrency mining giant Bitmain. Reports on the firms’ participation in the funding effort first emerged among Chinese media in early August. Soon after, several outlets including CoinDeskTechCrunch and other media platforms cited the reports in follow-up articles on the mining giant’s anticipated multi-billion dollar initial public offering in Hong Kong. Yet, both Tencent and Softbank have now confirmed to CoinDesk that they have no connection to the investment deal. A spokesperson for Tencent told CoinDesk via email on Thursday that the Hong Kong-listed company is “not involved in this investment” when presented with several online reports claiming they were. “The news is not true,” they added. Similarly, financial giant SoftBank indicated it, too, had no connection to the Bitmain round. “Neither the SoftBank Group Corp. nor the SoftBank Vision Fund were in any way