Mining
Canadian crypto mining agency Pow.re introduced on Thursday that it had closed a $9.2 million Sequence A spherical in addition to a $18 million strategic funding.
The Sequence A valued the corporate at $150 million, and was led crypto asset administration platform Haru Make investments, with help from digital belongings buying and selling firm Trinito in addition to RFD Capital. The $18 million strategic funding got here by way of Haru, and can be used to finance the corporate’s growth into Paraguay.
“We’re grateful to our strategic companion and buyers for his or her help and conviction in our execution capabilities.” mentioned Calvin Tay, Pow.re’s Group CFO, in a press release. “This mandate will allow us to speed up our progress and capitalize on alternatives in present market circumstances.”
With its Paraguay growth, the miner mentioned it’ll have over 500 Petahash per second (PH/s) of mining capability this quarter.
Its operations in Paraguay can be powered by hydroelectricity. Pow.re additionally operates mining services in Wabush, Labrador, in northern Atlantic Canada, which additionally makes use of hydropower, in addition to a facility close to Quebec’s St. Lawrence River which makes use of wind energy.
Lately, Blockstream, one other Canadian mining firm, raised $125 million to increase its bitcoin mining services and internet hosting providers.
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