MELBOURNE, Australia--(BUSINESS WIRE)--On December 2, 2017, CollinStar Holdings paid $ 100 million US dollars to acquire the entire BiWang Group, including BW.COM.
BiWang Group, Ltd. (BWG) was founded in August 2014. BWG’s core business includes mining chip R&D, production of mining chips, and the operation of a massive-scale blockchain cloud data center with tens of thousands super-power cloud servers.
Early investors of BWG include one of world's largest blockchain mining leader Long Kuang Group (LKG). With a total revenue of more than 10 billion RMB, LKG serves customers globally and is a well-regarded as the blockchain technology pioneer. LKG also owns a cloud computing super center dubbed as the home of the super hash power - JUA.COM, and the world's first digital asset-backed P2P lending platform 8R.COM.
BWG caught CollinStar Holdings’ attention with three major technical advantages. First, BWG has the most comprehensive cloud server offerings; its integrated server array once ranked the world's top three. BWG's blockchain supercomputing processor can provide up to 117000 gigahash/second while incurring the lowest overall operating costs, affording its customers the best return on investment. Second, BWG currently offers the most advanced LiteCoin hashing super server BW-L21. With a leading ASIC chip R&D, manufacturing, and server sales team, BWG is a world-class powerhouse in terms of cloud server sales and production. BWG has already transitioned its production capability to the next generation 16nm chips and is undoubtedly leading an innovative effort to promote the next 14nm process as the industry benchmark. Third, BWG is currently operating a world-renowned massive-scale cloud computing platform with unmatched cloud processing power. Their latest B18 cloud computing core is the world's most advanced 14nm process chip, with a stunning 145W/TH energy consumption rate. Compared to the current mainstream blockchain supercomputer, it offers a 35% energy saving. Internally, BWG has multiple teams competing to ensure the higher uptime rate, higher stability rate and high growth rate for all of its cloud computing platform. They have reached the stable operation of more than 20 PH/S, using 20,000 GPU cards, at an industry-leading level.
With the acquisition of BWG, CollinStar Holdings is well positioned to capitalize on BWG’s industry-leading technological advantages and existing resources. CollinStar can then apply capital power to realign its strategic leadership position to promote the growth of the entire blockchain ecosystem. “The acquisition will be the start of a business development strategy for CollinStar Holdings’ industry integration value chain.” Said Mr. Ryan Xu, chairman of the board of CollinStar Holdings.
About CollinStar Holdings
CollinStar Holdings is a prominent investment organization dedicated to global blockchain cryptocurrency technology investment and digital asset operations. The company funds and manages digital-currency exchange, cryptocurrency mining and other related businesses in the blockchain and cryptocurrency industry.