Genesis Digital Property Raises $431M for Growth

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Genesis Digital Property raised $431 million to develop its bitcoin mining operations in North America and the Nordic area, the corporate stated Tuesday.

  • Paradigm led the large spherical, which additionally included NYDIG, FTX, Stoneridge, Ribbit and Electrical Capital, in addition to the household workplaces of Paul Tudor Jones by means of Kingsway Capital, in line with a press launch.
  • Genesis Digital Property co-founder and CEO Marco Streng stated the capital will assist Genesis develop its operations within the clear vitality house, a sign of the heightened significance of greening bitcoin.
  • “As we work in the direction of our purpose of bringing 1.4 gigawatts on-line by 2023, the capital raised from this spherical will probably be used to develop our bitcoin mining operations in places the place clear vitality is well accessible,” Streng stated within the announcement.
  • Paradigm co-founder and Managing Associate Matt Huang joined Genesis’ board of administrators following the spherical.
  • In July, Genesis Digital Property raised $125 million in fairness funding to gas North American and Nordic enlargement.

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