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BTC Layer2 Project BEVM Receives Investment from Bitmain
BEVM, a Layer2 project for Bitcoin, has officially disclosed an investment from Bitmain, a leading manufacturer of cryptocurrency mining servers globally. The exact amount of the investment remains undisclosed.
Bitmain: A Significant Player in the Crypto Mining Industry
Established in 2013, Bitmain continues to be a significant figure in the digital asset mining hardware production space. Its Bitcoin mining machines have previously held over 70% of the global market share. This investment marks Bitmain’s first foray into the Bitcoin Layer2 domain.
BEVM’s Vision and Goals
Gavin Guo, Core Builder of BEVM Foundation, stated that BEVM will focus on exploring Bitcoin hashrate and the Proof of Work (PoW) ecosystem’s application on BEVM. This exploration aims to facilitate the migration of trillions of dollars in PoW hashrate assets and a substantial quantity of BTC to BEVM. The goal is to empower Bitmain assets, unlock liquidity, and enable diverse financial applications within the BTC Layer2 network.
BEVM: Pioneering EVM-Compatible Bitcoin L2 Network
BEVM is the first EVM-compatible Bitcoin Layer2 network built on the Taproot Consensus, utilizing BTC as Gas. By leveraging native Bitcoin technologies like Schnorr Signature, MAST, and Bitcoin Light Node Network, BEVM achieves fully decentralized BTC cross-chain functionality. This enables the trustless integration of BTC into various applications and facilitates genuine BTC liquidity circulation.
Recent Developments and Achievements
BEVM launched its mainnet on March 28th, attracting over 700,000 user addresses and hosting more than 30 ecosystem projects. The project also secured significant financing, with investors including RockTree Capital, Waterdrip Capital, Arkstream Capital, ViaBTC Capital, and nearly 20 other institutions. This investment has valued the company at $200 million post-investment.
