Core Viewpoint - Bgin Blockchain has successfully launched its IPO on NASDAQ, pricing shares at $6, raising $30 million, but experienced a 17.33% drop on the first trading day [1] Company Overview - Bgin Blockchain focuses on the production of alternative cryptocurrency mining equipment and has developed proprietary mining technology [1] - The company has shifted its revenue model, with mining machine sales becoming the primary source of income since April 2023, previously relying almost entirely on cryptocurrency mining [1] Product and Market - Bgin designs and sells mining machines equipped with its own 8nm or 12nm ASIC chips, targeting specific cryptocurrencies such as KAS, ALPH, and RXD [1] - Sales are conducted exclusively through the company's official website, with customers primarily located in Hong Kong, the United States, and Southeast Asia [1] Financial Performance - Bgin Blockchain, established in 2019, is projected to achieve revenues of $302 million for the 12 months ending December 31, 2024 [1]

Group 1 - Bgin Blockchain has reduced its planned IPO fundraising scale, now aiming to raise $36 million by issuing 6 million shares at a price range of $5 to $7 per share, down from a previous plan of 6.25 million shares at $7 to $9 per share [1] - The company has undergone a 1:1.4375 stock split, resulting in a 33% reduction in the number of shares to be issued, while the midpoint of the new price range has increased by 8% [1] - The revised fundraising amount represents a 28% decrease from previous expectations, while the company's market capitalization is projected to reach $685 million, reflecting a 5% increase from the original terms [1] Group 2 - Bgin Blockchain is a digital asset technology company focused on alternative cryptocurrencies, with its primary revenue now coming from the sale of mining machines since April 2023 [2] - The company designs and sells mining machines equipped with its proprietary 8nm or 12nm ASIC chips, specifically for mining KAS, ALPH, and RXD coins, primarily through its official website [2] - For the 12 months ending December 31, 2024, Bgin Blockchain reported revenues of $302 million and plans to list on NASDAQ under the ticker "BGIN," with D. Boral Capital as the exclusive bookrunner for the IPO [2]

Group 1 - Bgin Blockchain has reduced its planned IPO fundraising amount to $36 million by issuing 6 million shares at a price range of $5 to $7 per share, down from the previous plan of 6.25 million shares at $7 to $9 per share [1] - The company has changed its lead underwriter from Chardan Capital Markets and The Benchmark Company to D. Boral Capital [1] - Following a 1:1.4375 stock split, the new issuance terms indicate a 33% reduction in the number of shares to be issued, while the midpoint of the price range has increased by 8% [1] Group 2 - Bgin Blockchain is a digital asset technology company focused on alternative cryptocurrencies, with its primary revenue now coming from the sale of mining machines since April 2023 [2] - The company designs and sells mining machines equipped with its proprietary 8nm or 12nm ASIC chips, specifically for mining KAS, ALPH, and RXD coins [2] - For the 12 months ending December 31, 2024, Bgin Blockchain reported revenue of $302 million and plans to list on NASDAQ under the ticker "BGIN" [2]