Bitmain, a major player in the cryptocurrency mining server manufacturing sector, has officially invested in the BTC Layer2 project BEVM. The exact amount of the investment has not been disclosed yet.

Having been established in 2013, Bitmain remains a key player in the production of digital asset mining hardware. In the past, Bitmain's Bitcoin mining machines held more than 70% of the global market share. This investment represents Bitmain's first venture into the Bitcoin Layer2 space.

Gavin Guo, Core Builder of BEVM Foundation, mentioned that the next steps for BEVM will involve exploring Bitcoin hashrate and the application of the PoW ecosystem on BEVM. This exploration could potentially aid in the transfer of trillions of dollars in PoW hashrate assets and a significant amount of BTC to BEVM. This move is expected to enhance Bitmain assets and bring liquidity and a variety of financial application scenarios to the BTC Layer2 network.

BEVM is known as the first EVM-compatible Bitcoin L2 network built on the Taproot Consensus, using BTC as Gas. By utilizing native Bitcoin technologies like Schnorr Signature, MAST, and Bitcoin Light Node Network, BEVM enables fully decentralized BTC cross-chain functionality, allowing for the seamless integration of BTC into various applications and promoting genuine BTC liquidity circulation.

On March 28th, BEVM launched its mainnet with over 700,000 user addresses and more than 30 ecosystem projects. Additionally, BEVM recently secured substantial financing, with investors like RockTree Capital, Waterdrip Capital, Arkstream Capital, ViaBTC Capital, and nearly 20 other institutions, resulting in a post-investment valuation of $200 million for the company.

For more details about BEVM, please visit www.bevm.io or reach out to [email protected].

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