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Hedging Paradise Files: Lei Jun or bitcoin mining business to increase wealth

Paradise documents show that the two companies controlled by Lei Jun are associated with the four companies controlled by Beijing Genghis Khan and Zhanker Group. The media said that while it has never publicly revealed its interest in digital currency, Lei Jun, a $ 66 billion homeowner or bitcoin mining industry, has increased its wealth.
Qz.com quoted a report from the overseas website as saying that Lei Jun, the head of the millet, may have links with Bitmain, China's largest maker of bitcoin antitank mining machines. He is accused of making use of the bitcoin mining business Increase your wealth.
According to a Paradise Papers information exposed by the International Consortium of Investigative Journalists (ICIJ), two offshore entities controlled by Lei Jun and a company called Beijing Changtong Wireless Consulting Company Transliteration) companies have contact. Beijing Freeway is linked to four other offshore entities controlled by Beijing-based mainland co-founders Wu Jihan and Micree Zhan.

Specific contact as follows:
Lei Jun controls Colorful Mi Ltd and Red Better Ltd two companies;
Wu Jihan controls Wu Ji Han & Co Ltd;
Jenkins Group controls Bitmain Cowin Inc and DivaIPTV Ltd;
Successful Cool Ltd holds a stake in BitMain Technologies Holding Company;
All of the above companies seem to be part of Beijing Smoothing Wireless.


The connection between Lei Jun and the Beijing Bintulu is so complicated that up to now it is not yet clear what the specific nature is. Beijing bit mainland China, ICIJ and Lei Jun did not respond to the request for comment on the above information.

However, so far, despite some anecdotal rumors, Lei Jun has never revealed his interest in cryptocurrencies in public.

Beijing Bit Mainland had previously claimed that the company was founded with its own funds mainly from the bitcoin money Wu held in his early days. The company recently received external funding from well-known VCs Sequoia and IDG.

Beijing Bit mainland is established by its controlling shareholder in Hong Kong and registered in the Cayman Islands. The company designs chips for bitcoin mining machines, assembles the machines, and then sells them. It also controls the machines to manage their own accounts, runs a wide range of bitcoin sales platforms, and manages them centrally.

Official data show that the Beijing Bote continent mine sales service network covering more than 100 countries and regions, they claim in the global mining machine market share of more than 70%. Zhanke Mission has introduced the company's product profit margin of 50%. Wu Guihan told the U.S. media earlier that the company's mine located in Ordos produced about 250,000 U.S. dollars a day.

qz.com said the Beijing bit mainland could pay Taiwan's TSMC a $ 400 million chip-making cost last year. In a recent earnings conference call, TSMC revealed that digital encryption currency customers accounted for 5% of its total revenue. According to qz.com, Beijing Bit Continent is the only TSM maker currently known as a digital currency miner.
The report also quoted bitcoin analyst Jimmy Song as saying that Beijing's profits from the sale of new miners this year are about 250 million U.S. dollars.

Just today, Wall Street heard mention, bitfinex bitcoin quote platform information shows that bitcoin prices in early trading in Asia exceeded $ 9500 mark, a new record high. This type of asset accumulated more than 900% this year. This means that, at least in the short term mining demand will remain hot.

As early as March 2014, OKCoin, the domestic bitcoin exchange, announced the completion of A rounds of 10 million U.S. dollars in financing. At that time, Economic Observer reported that Lei Jun was one of angel investors.

The "Hurun IT Entrepreneur List" released at the end of last month shows that the 48-year-old Lei Jun ranked sixth with a wealth of 66 billion yuan.

Original title: Hedgehog paradise Document shows: Lei Jun may be associated with China's largest manufacturer of bitcoin miner