Genesis Digital Assets Raises $125 Million To Expand Bitcoin Mining Operations
Genesis announced a $125 million round of equity funding to further expand the bitcoin miner's industrial-scale operations.Genesis Digital Assets, a bitcoin mining company active since 2013, has announced a $125 million round of equity funding to support the firm's expansion plans.The round came from Kingsway Capital, a UK-based private equity fund. Kingsway is focused on frontier emerging markets and has over $2 billion in assets under management (AUM). Their CEO, Manuel Stotz, who joined Genesis' board of directors as part of the round, commented on funding the bitcoin miner:"Bitcoin is....
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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....
The round led by investment firm Paradigm will fund the expansion of Genesis' bitcoin mining operations in the U.S. and Nordics.
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....
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.
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....