Golden Finance reported that Singapore-based cryptocurrency mining machine manufacturer Bgin Blockchain Limited has submitted a U.S. IPO application, which is expected to raise $50 million. According to the filing documents submitted to the SEC on February 21, Bgin plans to issue approximately 59.54 million Class A common shares and 15.69 million Class B common shares, and apply for listing on Nasdaq under the stock code "BGIN". The company was founded in 2019 and focuses on the design and sales of mining equipment for alternative cryptocurrencies. It sold nearly 68,000 mining machines in fiscal 2023. Bgin also revealed that almost all revenue in fiscal 2022 comes from crypto mining and plans to use the funds raised by IPO for R&D expansion. Recently, several crypto companies are also planning to go public in the United States, including eToro and BitGo.