Panda Power, a technology-based mining comprehensive service company, received a 30 million yuan A round of financing, which will be used for cloud computing platform construction, etc.

Editor's Note: This article has been modified without altering the author's original intention.

A few days ago, Panda Power, a technology-intensive mining integrated service company, officially announced that it had received 30 million A rounds of financing from Trent Capital, which was also the first financing event in the domestic blockchain industry after the epidemic. Yang Ke, CEO of Panda Power, revealed that this round of financing will be mainly used for cloud computing platform construction, mining machine research and development, talent introduction and ecosystem construction.

It is reported that Panda Power was officially established at the beginning of 2018. It was involved in the mine business earlier and invested in the construction of the first mine in Jilin in May 2018, with more than 10,000 seats. In 2019, Panda Power developed the Blue Whale Bitcoin mining machine and put it into use. Currently, there are many new models of mining machines in development, some of which are customized according to the needs of partners.

As for the R & D team, Yin Chong, the head of the architecture design and R & D for the two major products of Rising Network Information Security Monitoring and Blockchain, is the CTO. At the same time, in addition to an internal core composed of a number of domestic cryptographic experts and senior information security experts, Panda Dynamics also extensively attracts outstanding talents in various fields.

According to other relevant public information disclosed by the team, Panda Power is headquartered in Chengdu, the capital of mining, and has R & D centers in Beijing and Hangzhou. There are three major business sectors: mine investment and operation, cloud computing platform, and mining machine research and development. Sales. The platform has its own mining machine production line, and seeks high-quality power resources worldwide, and arranges mines that comply with formalities and safety.

2019 is the key node for Panda Power to complete the exploration of the industrial layout. In this year, the platform has realized the transformation from a traditional mine owner to a mining machine manufacturer to a comprehensive mining service platform. The corresponding market environment is that Bitcoin's computing power has increased significantly. In May 2020, the output of Bitcoin will soon be halved for the third time. The recent sharp drop in the price of Bitcoin has even made mining operators more And the miners became "survival". Opportunities and challenges coexist. Most of the mining machine manufacturers in the industry have begun to transform into comprehensive mining service providers to avoid the risks of mining disasters and explore new opportunities. Major domestic institutions have also stated that mining services are one of the few areas that has sustained rapid growth in recent years. Relying on the diversification of digital asset products and innovation in services on the ecological chain, the integrated mining service platform has great potential.

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This is the reason why Panda Power chose to raise funds at this node: attract outstanding talents during the downturn of the industry, form a combat team, cut in with differentiated operating strategies, and gain greater market share during the major reshuffle cycle of the mining industry. With the increase of Bitcoin's entire network computing power, especially the 7-nanometer mining machine officially put on the market, the bitcoin's computing power battle will also become heated. When miners purchase mining machines, in addition to considering the performance and income stability of large currency mining machines such as bitcoin, on the premise of careful selection, small currency mining machines have low mining cost due to the value appreciation potential of the currency and low mining investment costs. For other reasons, it is also an option to configure a portion of the miner's assets.

2019 is also known as the first year of "financial services around digital assets." In the past two years, multiple cloud computing power platforms have been put into operation one after another, making the mining pattern gradually transition from a big mine monopoly to a nationwide mining operation. Panda Power's deployment of cloud computing power products will leverage the Panda Power team's accumulated industrial resources in the industry for many years, upstream and downstream of the industry, and surrounding industrial resource advantages to provide higher value to customers and partners.

Regarding this investment, the relevant person in charge of Trent Capital stated that the global blockchain hardware market scale, which uses mining machines used for cryptocurrency mining, will continue to increase. According to statistics, the market will maintain an overall 72% annual growth rate in the next three years. Compound growth. By this year, the global blockchain hardware market size will approach 100 billion. At present, mining companies in the blockchain industry have launched comprehensive businesses, which is the general trend of industrial integration and upgrading. Looking at the long-term industrial structure, the digital mining industry chain has great value, is the industry's largest single market, and is also the sector with the best profitability. At the same time, there will still be logic for the financial transformation of digital assets, continuous improvement of efficiency, and global expansion. The industry ceiling is far from reaching.

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After this round of financing, Panda Power will strengthen the team's talent introduction, mining machine research and development, and the construction of cloud computing power platform to help Panda Power's 2020 strategic development. In the future, Panda Power will build an ecological layout of digital assets and provide users in the ecosystem with higher quality professional services.