Genesis Digital Assets reveals capital increase of $ 431 million-mining fixed destinations for 1.4 gigawatts by 2023-mining Bitcoin messages

On Tuesday, the Bitcoin mining company Genesis Digital Assets announced that the company collected $ 431 million from strategic investors. The mining company Genesis explained that paradigm was headed by the multi-million dollar financing round and one of the company's co-founders joined the board of Genesis.

Genesis Digital Assets to strengthen Bitcoin Mining Activities in the USA and Scandinavia

The Bitcoin mining company Genesis Digital Assets on an industrial scale announced that the company has raised $ 431 million in a recently carried out financing round. The financing was directed by the company Paradigma also included the participation of companies such as Nydig, Stoneridge, FTX, Ribbit, Electric Capital, Skybridge and Kingsway Capital. Matt Huang, the co -founder of Paradigm and Managing partner of Paradigm, said during the announcement that he will join the Board of Directors of Genesis Digital Assets (GDA).

"Over a decade, the GDA team has built up what we think was the most impressive Bitcoin mining company in the world," said Huang in a statement to Bitcoin.com News. "You have everything you need to continue scaling your company and making Bitcoin mining even more efficient, and we look forward to supporting your mission."

Genesis plans to add 8.6 Exahash in the next 12 months

Genesis stated that the company's current dismantling capacity is currently 170 megawatts. The megawatts are converted into 3.3 Exahash per second (EH/S) hashpower or 2.4% of the global hashates. Genesis states that the fleet should be expanded by 8.6 EH/s to Hashpower next year, and by the end of 2023 GDA hopes for a capacity of around 1.4 gigawatts.

"While we work towards our goal of bringing 1.4 gigawatts online by 2023, the capital from this round is used to expand our Bitcoin mining activities in locations where clean energy is easily accessible," Marco Streng, CEO and co-founder of Genesis Digital Assets. "We look forward to having strategic investors on board and looking forward to implementing our mission together."

The announcement by GDA follows the acquisition of 20,000 mining tubes from Canaan and the option to acquire another 180,000 from the listed mining tower manufacturer. The company maintained a strong relationship with Canaan in the course of the year and has already agreed on some previous acquisitions of mining systems before buying 20k.

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