Genesis Digital Assets Raises $431M for Expansion


Genesis Digital Assets raised $431 million to increase its bitcoin mining operations in North America and the Nordic area, the corporate said Tuesday.

  • Paradigm led the large spherical, which additionally included NYDIG, FTX, Stoneridge, Ribbit and Electric Capital, in addition to the household workplaces of Paul Tudor Jones by means of Kingsway Capital, in accordance with a press launch.
  • Genesis Digital Assets co-founder and CEO Marco Streng mentioned the capital will assist the corporate increase its operations within the clear vitality area, a sign of the heightened significance of greening bitcoin.
  • “As we work towards our goal of bringing 1.4 gigawatts online by 2023, the capital raised from this round will be used to expand our bitcoin mining operations in locations where clean energy is easily accessible,” Streng mentioned within the announcement.
  • Paradigm co-founder and Managing Partner Matt Huang joined Genesis Digital Assets’ board of administrators following the spherical.
  • In July, Genesis Digital Assets raised $125 million in fairness funding to gas North American and Nordic enlargement.
  • Genesis Digital Assets is totally different from Genesis, the crypto lending agency owned by CoinDesk mother or father firm Digital Currency Group.

Read extra: Genesis Digital Assets Raises $125M to Fuel US and Nordic Expansion