Genesis Digital Assets Reveals $431 Million Capital Raise — Mining Firm Aims ...
On Tuesday, the bitcoin mining firm Genesis Digital Assets announced the firm raised $431 million from strategic investors. The mining company Genesis detailed that Paradigm led the multi-million-dollar funding round and one of the firm’s co-founders has joined Genesis’s board of directors. Genesis Digital Assets to Bolster Bitcoin Mining Operations in the US and Nordics The industrial-scale bitcoin mining company, Genesis Digital Assets, revealed the firm has raised $431 million in a recent financing round. The funding was led by the company Paradigm but also....
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Genesis plans to more than triple its hashing capacity from 2.6 EH/s to 8.1 EH/s. Genesis Digital Assets has become the latest Bitcoin mining firm to raise millions towards plans for aggressive expansion amid the exodus of miners from China due to its crackdown on the sector.On July 28, Genesis announced it had closed a $125 million equity funding round led by U.K.-based Kingsway Capital. The capital will be mobilized to purchase mining hardware and launch new data centers in the United States and Nordic region.The terms of the deal will also see Kingsway Capital CEO, Manuel Stotz, join....
Genesis Digital previously raised $125 million in an equity funding round led by Kingsway Capital in July 2021. Major Bitcoin (BTC) mining company Genesis Digital Assets has secured $431 million in funding to expand its industrial-scale mining operations in the United States and Nordics.The new funding round was led by Paradigm, one of the biggest cryptocurrency investment companies backing major industry players like Coinbase and FTX. Paradigm co-founder Matt Huang has also joined Genesis Digital’s board of directors, the firm announced on Sept. 21.Other investors include the $11 billion....
Bitcoin mining firm Genesis Digital Assets announced a $93 million partnership with Canaan to increase its capacity by 117 megawatts.
The round led by investment firm Paradigm will fund the expansion of Genesis' bitcoin mining operations in the U.S. and Nordics.
The ASIC bitcoin mining rig manufacturer and chipmaker, Canaan has announced the company has signed a $93.63 million purchase order with the mining firm Genesis Digital Assets. Genesis will be acquiring Canaan’s A1246 Avalonminer rigs that produce 90 terahash per second (TH/s) and deliveries will be shipping during the second half of 2021. Canaan and Genesis Digital Assets Announce a Strategic Partnership According to an announcement from the Beijing, China-based company Canaan (Nasdaq: CAN) a new strategic partnership has been unveiled between the firm and Genesis Digital Assets.....