Bit Mining raises $50M to take operations out of China
Bit Mining is looking to exit China’s market in response to the recent government crackdown on mining. Shenzhen-based crypto mining firm, Bit Mining, is raising $50 million to fund an expansion out of the Chinese market.Announced on July 12, the firm has entered into an agreement with select institutional and accredited investors to raise $50 million through a private placement. Bit Mining is raising the funds in response to the Chinese Communist Party’s crackdown on crypto mining in May, noting plans to “acquire additional mining machines, build new data centers,” and expand its....
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BIT Mining announced a raise of around $50 million for the company to expand and move its operations out of China.
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China’s crackdown on Bitcoin mining has led to an increase in clean bitcoin mining operations. Even though trading of cryptocurrencies has been banned in China since 2017, the country still leads the world in crypto mining rigs. Accounting for nearly 70 percent of mining operations in the world. A number that has always worried the […]
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....
North American bitcoin mining operation Compute North announced a $25 million capital round, allowing for the expansion of its business. The post Compute North Raises $25 Million To Expand Bitcoin Mining Operations appeared first on Bitcoin Magazine.