Bitcoin mining agency VBit DC has raised $1.1 million in a seed funding spherical, which was led by angel funding fund Golden Age.
Asserting the information on Tuesday, VBit mentioned it could use the contemporary capital to arrange a 200 MW (megawatt) bitcoin mining heart in Alberta, Canada.
“The size of the center and access to inexpensive electricity will allow VBit DC to offer its customers increased mining efficiency and considerably better ROI [return on investment] than was previously possible,” mentioned the agency.
VBit DC is a subsidiary of Philadelphia-based VBit Applied sciences, which affords mining packages to most of the people since 2018. The agency claims to have helped round 3,000 prospects earn passive revenue by way of mining. VBit mentioned its person base is seeing “exponential” development month-over-month throughout international locations.
“We count on extra individuals to affix us as our new knowledge heart will make a change on the market when it comes to accessibility and readability of ROI,” mentioned Danh Vo, founder and CEO of VBit Applied sciences.
The information comes simply days earlier than the bitcoin halving, which can see the mining reward reduce from 12.5 BTC to six.25 BTC. The halving is anticipated to happen subsequent week on Could 12.
© 2020 The Block Crypto, Inc. All Rights Reserved. This text is offered for informational functions solely. It isn’t provided or supposed for use as authorized, tax, funding, monetary, or different recommendation.