Coinbase Ventures, an investment arm of Coinbase, has invested in Titan, a developer of software and services for Bitcoin (EXANTE: Bitcoin) mining at scale, as part of its current seed fundraising round.
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According to an official announcement, the investment will help Titan to continue advancing its offerings "that allow Bitcoin mining companies achieve efficiency, profitability, and growth." The company developed its own enterprise-focused mining pool dubbed Titan Pool, which is expected to be launched in closed beta in January 2021. The size of investments from Coinbase Ventures remains unknown.
Titan Co-Founder and Chief Executive, Ryan Condron, says the investment serves as "a powerful endorsement of the Titan team, roadmap and vision."
"Mining has advanced from hobby, to industry, to critical global computing infrastructure, and Titan is prepared to help world-class miners meet these challenges," he added.
As iHodl reported earlier, Chinese maker of ASIC mining devices Ebang plans to start public testing of its crypto exchange. The official launch of the platform is scheduled for the first quarter of 2021. Currently, the company is testing its internal platform.
The company's plans to expand its business through the launch of a cryptocurrency exchange and mining farms were announced on the eve of the company's IPO in June 2020.
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