This story was delivered to Business Insider Intelligence "Fintech Briefing" subscribers. To learn more and subscribe, please click here. Chinese crypto conglomerate Bitmain is reportedly filing for an initial public offering (IPO) in which it hopes to raise $18 billion, according to CoinDesk. Bitmain, which is the world’s leading producer of crypto mining chips, or ASICs, has already closed $450 million in private funding from participants including Sequoia, GIC, and IDG Capital, as well as a $1 billion funding round led by Chinese tech giant Tencent and Japan’s SoftBank.