Shutterstock
Main page News, Mining, Bitcoin

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.

Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.

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.

Another Nasdaq-listed Company Invests $100M in Bitcoin

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.

Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange.

Read also:
Strawberry Cake Media Corp. © 2024 Cookie Policy Editorial team Archive

ihodl.com is an illustrated edition about cryptocurrencies and financial markets.
Every day we publish the best materials for everyone interested in economy.