Spondoolies-Tech Takes Aim at BitFury With $5 Million Funding Round
Spondoolies-Tech has raised $5m from a pool of both new and existing investors as part of its ongoing Series B funding round. Participants in the round included Agile Wings, BRM Group and Genesis Partners, as well as a group of angel investors that featured entrepreneur Olivier Janssens and Aleph partner Eden Shochat. Speaking to CoinDesk, Spondoolies-Tech CEO Guy Corem indicated that his company intends to use the funds to fuel its third-, fourth- and fifth-generation ASIC development and rival what it views as its main international competitor, BitFury. Corem seeks to portray....
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Bitcoin mining firm BTCS, formerly known as Bitcoin Ship has completed a $1.45 million round of financing on December 16, led by Cavalry Fund LP. Originally known as Bitcoin Shop, BTCS was an e-commerce retailer that shifted its business model to bitcoin mining. The company was in need of a cash-boost after a recent SEC filing raised concerns of the company's ability to even exist in the long term. The SEC filing shows a net loss of $8.4 million for nine months ending September 2015. An excerpt from the SEC filing read: Because of recurring operating losses, net operating cash flow....
Spondoolies-Tech, the Israeli company that is merging with Bitcoin Shop to consolidate their enterprises and resources, announced today that last year it had brought in about twenty-eight million dollars. By comparison, many other companies in the Bitcoin world are still in the venture capital funding phases of their progression. Spondoolies' integration with Bitcoin Shop will focus largely on developing a seamless Bitcoin mining platform, using hardware developed by Spondoolies. Spondoolies-Tech Bitcoin mining hardware is widely respected as industry standard. In November, CCN reviewed....
Updated with comment from BitFury CEO Valery Vavilov. BitFury has raised $20m in additional funding to complete development of its 28nm ASIC chip capable of achieving energy efficiency of 0.2 joules-per-gigahash (J/GH) and first announced in September. The pre-Series B round marks the second time this year BitFury has raised $20m in new funding, following its initial Series A in May. The funding was largely contributed by existing investors including venture capitalist Bill Tai, current BitFury board member and former VeriFone CFO Bob Dykes and the Georgian Co-Investment Fund. Google Maps....
BitFury announced today that it has secured an additional $20 million funding from Silicon Valley vets, during a time when investments in companies working in the bitcoin space have seemingly become in vogue. The round is led by Lars Rasmussen (co-founder, Google Maps), along with Bill Tai (venture capitalist) and Bob Dykes (former President, Flextronics). The $6 billion Georgian Co-Investment Fund, which has previously invested in BitFury, also participated in this round. The company says they are committed to spend the funds to "continue its strong momentum as the leader in....
Bitcoin technology company BitFury has been able to secure $20 million in funding to support its expansion plans. The funds came from DRW Venture Capital, iTech Capital and Georgian Co-Investment Fund in their latest round of funding. BitFury has plans to expand to the Republic of Georgia by building a Techno Park that can host its 100MW center. The company has been involved in providing bitcoin technology infrastructure and transaction processing services. Bitcoin Technology Expansion Plans. "Today, we are excited to announce we have secured a funding round of $20 million. The success of....