Blockware Mining closes $25M investment round

Blockware Mining, a fast-growing bitcoin mining firm in North America, has announced the completion of its latest funding round in which it raised more than US$25m.

Total funding acquired thus far is set at US$32m. The firm has said the newly available capital will be deployed towards scaling its mining operations and expanding its reach beyond North America.

Blockware Mining prides itself in being “a diversified Bitcoin mining infrastructure and colocation service provider that caters to crypto miners.”

Launched during the close of 2019, Blockware Mining’s key goals since inception have been to acquire mining rigs, develop a wide-ranged and dependable system of operation that can support the activities of other miners, and develop its mining facility in Paducah, Kentucky.

“We successfully negotiated the acquisition of a robust supply chain of mining rigs, a complex process made even more challenging by the pandemic,” said Michael Stoltzner, President and CEO of Blockware Mining.

We successfully negotiated the acquisition of a robust supply chain of mining rigs, a complex process made even more challenging by the pandemic

Michael Stoltzner, CEO Blockware Mining

Thanks to the funds raised so far, the firm currently owns 14,000 mining rigs, as of the end of the second quarter. About 8,00 of those will go towards scaling its Kentucky operations while the rest will be sold out.