Genesis Digital Assets, a bitcoin mining provider, has announced it raised $125 million in a round of equity funding. According to a press release, the company raised capital from Kingsway Capital, a UK-based private equity fund.
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The company plans to use the funding to support "aggressive expansion plans" and purchase an additional mining to build new data centers in the United States. Abdumalik Mirakhmedov, Co-Founder of Genesis Digital Assets, says that with the funding, the company plans to power the open-source monetary system revolution.
As iHodl earlier reported, BIT Mining, a public cryptocurrency mining company, also raised $50 million in a private placement. The company said it will use the capital to buy more mining rigs, build new data centers overseas, and expand the infrastructure.
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