Coinbase invests in US-based mining firm amid industry diversification efforts
Titan secured funding from Coinbase to offer a U.S.-developed software suite for miners. Coinbase Ventures, the investment arm of the major crypto exchange, has invested an undisclosed amount into Titan, a developer of software and services targeted at industrial Bitcoin (BTC) mining.According to Titan’s announcement, the investment will help continue development of the company’s products and improve efficiency and profitability of Bitcoin mining companies.Ryan Condron, co-founder and CEO of Titan, said that “mining has advanced from hobby, to industry, to critical global computing....
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Coinbase published the company’s shareholder letter on Tuesday which detailed it made over $2 billion in net revenue during the second quarter. The firm said “Q2 was a strong quarter” for Coinbase as it saw both “growth and diversification” this year. While netting in $2 billion, Coinbase said it has 68 million verified users and the company also noted it has been working with Spacex, Tesla, PNC Bank, Wisdomtree, and Elon Musk. Coinbase Q2 Results: Over $2 Billion in Revenue, Retail Users Rise, 9,000 Institutional Customers Coinbase (Nasdaq:COIN) has published....
Shenzhen-based Bit Mining is planning to construct and operate a 100 MW crypto-mining data center in Kazakhstan. The project will be implemented in partnership with two local companies that will also provide the enterprise with an array of services. The total amount of the investment will exceed $9 million. Kazakhstan to Host New 100 MW Crypto Mining Facility Bit Mining announced this week it has entered into a binding investment term sheet with a Kazakhstani entity. The two companies will cooperate on the construction of a new crypto mining facility in the Central Asian republic. The....
Bitcoin exchange and platform Coinbase has announced new investment and partnership with the Bank of Tokyo-Mitsubishi UFJ (BMTU), Japan’s biggest bank. The endeavor will see Coinbase look toward expansion efforts in Japan and Asia. Bitcoin exchange and services platform Coinbase will raise $10.5 million from Japanese investors today with the aim to launch services in Japan. Currently, Coinbase only has an Asian presence in Singapore. Investors include the Mitsubishi UFJ Financial Group (MUFG) and the Bank of Tokyo-Mitsubishi UFJ (BMTU) Japan’s largest lender and bank, respectively. The....
On Wednesday, the firm Bit Mining Limited, formerly known as 500.com, announced it has entered into a binding investment in a cryptocurrency mining data center located in Texas. The binding investment worth $25 million is with Dory Creek, LLC as the two companies will construct and operate a 57.2 MW mining facility powered by 85% low-carbon energy. Bit Mining Pledges $25M to Build a Texas Mining Facility With Bitdeer The Chinese company Bit Mining Limited has been making a number of moves into the cryptocurrency mining industry after the business used to be dedicated to lottery operations.....