Blockware Mining raises $25 million to triple hash rate from Kentucky facility
Blockware raised $25M in a second oversubscribed round to expand bitcoin mining operations in a state with some of the lowest U.S. industrial electricity costs. Blockware announced Thursday that they have raised $25M in a second oversubscribed fundraising round.They plan to use the funds to expand their bitcoin mining operations in Kentucky, and will also install 8,000 more bitcoin mining rigs on its Paducah campus, where it recently purchased 5 acres of land.The company has already purchased the necessary rigs, and 6,000 more that it has slotted for resale operations to other miners.....
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Bitcoin mining company Blockware Mining has raised $25 million and plans to triple hash rate capacity and build out Kentucky facilities.
Blockware announced on Thursday that a second oversubscribed fundraising round had raised $25 million. Blockware Raise Money In Oversubscribed Round North American bitcoin mining company Blockware Mining today announced that it has raised over $25 million in a second oversubscribed funding round, bringing the company’s total capital raised to more than $32 million. They want […]
On Wednesday, the North American bitcoin mining operation Blockware Mining announced the firm closed a $25 million investment round. According to the company, Blockware Mining aims to leverage the financing to expand operations “beyond its currently installed North American footprint.” Blockware Raises $25 Million, Purchases 14,000 ASIC Miners Blockware Mining, a bitcoin mining infrastructure and colocation service operation revealed the company has raised $25 million on June 30. The U.S.-based firm claims to “generate bitcoin below market prices” by utilizing....
Dataset from Foundry shows that four states in the U.S. have the highest Bitcoin hash rate distribution. The dataset shows that many Bitcoin miners are headed to New York, Kentucky, Georgia, and Texas. Foundry U.S. is the largest mining pool in North America and the fifth-largest globally. The hash rate is a measure of collective mining power. A mining pool enables miners to combine their hashing power with other miners all over the world. Bitcoin Mining In The U.S. According to the data, within the U.S., New York accounts for 19.9% of bitcoin’s hash rate, 18.7% in Kentucky, 17.3% is in....
Kentucky needs to attract more crypto mining businesses by offering tax breaks, local lawmakers believe. Lawmakers in Kentucky are looking to impose tax breaks for local cryptocurrency miners.Kentucky lawmakers on Tuesday approved several state tax breaks including House Bill 230, which would remove the sales tax from electricity purchased by local crypto mining operators.According to a report by the Lexington Herald-Leader, Kentucky legislators voted 19 to two for the new measure. The bill’s fiscal note is reportedly estimated to cost the local budget at least $1 million annually. The....