What’s Driving the VC Boom in Bitcoin Mining
The post What’s Driving the VC Boom in Bitcoin Mining appeared on BitcoinEthereumNews.com.
In the last 15 days, VC fundings for Bitcoin mining infrastructure has increased dramatically. From Auradine to Bitdeer – various such companies have received million dollar support. In another instance of it, Riot, a NASDAQ listed Bitcoin mining infrastructure provider, has received $100 mn support. The support in the form of credit facility has been provided by leading crypto exchange, Coinbase. The capital injection will be used to expand Riot’s mining infrastructure, fund renewable energy initiatives. It will also develop its proprietary software stack aimed at increasing efficiency in mining operations. In the past, Coinbase has also provided $50 mn funding to another mining company, Hut 8 as well. Riot Receives $100M – Latest VC Funding Riot plans to use a significant portion of the new funding to expand its Rockdale and Corsicana mining facilities in Texas. These are two of the largest mining campuses in North America. The company also announced plans to build out a new 300-megawatt site powered by solar and wind energy. This is in alignment with growing pressure from both regulators and investors to make crypto mining more sustainable. Energy sourcing has become a critical factor in determining a mining firm’s long-term viability. Riot, which already engages in demand-response programs with Texas’ ERCOT grid, is betting big on renewable integration as a competitive edge. Riot Platforms Announces $100 Million Credit Facility with @Coinbase. “Riot has entered into its first bitcoin-backed facility, which provides us with non-dilutive funding at an attractive cost of financing,” said @JasonLes_, CEO of Riot. “This credit facility is a key part of… https://t.co/GWAbpWy2pY — Riot Platforms, Inc. (@RiotPlatforms) April 23, 2025 Is there a VC Boom in Bitcoin Mining Sector Riot’s raise is just one part of a larger trend. Bitcoin mining companies has raised over $88 million globally in Q1…
Filed under: News - @ April 25, 2025 12:27 am