{"id":215885,"date":"2021-03-31T21:57:51","date_gmt":"2021-03-31T18:57:51","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-miner-blockcap-closes-75m-investment-led-by-off-the-chain-foundry-digital\/"},"modified":"2021-03-31T21:57:51","modified_gmt":"2021-03-31T18:57:51","slug":"bitcoin-miner-blockcap-closes-75m-investment-led-by-off-the-chain-foundry-digital","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-miner-blockcap-closes-75m-investment-led-by-off-the-chain-foundry-digital\/","title":{"rendered":"# Bitcoin miner Blockcap closes $75M investment led by Off The Chain, Foundry Digital"},"content":{"rendered":"

“# Bitcoin miner Blockcap closes $75M investment led by Off The Chain, Foundry Digital <\/strong>”
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Blockcap, one of North America\u2019s fastest-growing Bitcoin (BTC) mining companies, has secured sizable investments from some of crypto\u2019s biggest names, setting the stage for significant expansion in the year ahead.<\/p>\n

Off The Chain Capital and Foundry Digital, a subsidiary of Digital Currency Group, contributed to the $75 million haul, Blockcap announced Wednesday. The funding will go towards scaling the company\u2019s mining operations and promoting the continued growth of digital assets in the United States. <\/p>\n

Blockcap was founded in 2020 by a group of blockchain veterans. It now commands a fleet of roughly 12,000 machines mining roughly 7 BTC per day. That figure is expected to grow to more than 30,000 by the end of the year, helping the company expand its hashing power to more than 3.5 EH\/s. As Cointelegraph previously reported, Blockcap estimates that its mining hardware is valued at $270 million on secondary markets. <\/p>\n

Currently, Blockcap accounts for nearly 1% of all Bitcoin network transactions, the company said Wednesday. <\/p>\n

Mike Colyer, Foundry Digital\u2019s CEO, said his firm sees \u201copportunity for long-term growth in Blockcap.\u201d<\/p>\n

Biran Estes, Off The Chain\u2019s chief investment officer, said Blockcap\u2019s acquisition of tens of thousands of miners demonstrates \u201cjust how massive Blockcap has become.\u201d He explained: <\/p>\n

\u201cMining is the critical infrastructure necessary to ensure the ecosystem progresses and we believe that Blockcap will continue to catalyze the growth of digital assets in cyberspace.\u201d<\/p><\/blockquote>\n

In addition to expanding its mining operations, Blockcap is looking to promote mainstream adoption of blockhain technology<\/a>, especially in the United States. Darin Feinstein, Blockcap\u2019s executive chairman, said:<\/p>\n

\u201cWe\u2019re excited for what is in store for digital asset mining here, especially the associated benefits of economic growth and job creation.\u201d<\/p><\/blockquote>\n

China continues to lead the Bitcoin mining industry, though its dominance app<\/a>ears to be smaller than initially believed. As of July 2020, the Asian superpower probably\u00a0accounted for roughly half of the global Bitcoin mining industry \u2014 not 65% as many believed. At the time, 14% of mining capacity came from the United States.<\/p>\n