Bitcoin (EXANTE: Bitcoin) mining startup Blockmetrix announced it has raised $43 million in a Series B funding round. Although the Dallas-based company declined to name backers, it said that investors from the US, Australia, and several countries in Asia participated in the funding.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.
According to an announcement, the proceeds will be used to expand the company's growth strategy, primarily through "securing digital asset mining rigs." Blockmetrix Co-Founder and CEO, Nevin Bannister, says that the latest funding round represents a "significant milestone and testament to our team's effort to build this company at breakneck speed."
"Scaling our company as quickly as possible has been our main prerogative since day one. We are striving to keep up this momentum and meet industry demand as we enter our interim round and eventual third round of funding. We thank all our investors for believing in our mission."
The latest investment round brings the total venture funding to $50 million. iHodl earlier reported that the Bitcoin mining difficulty experienced an increase of 4.78% as a result of latest recalculation and reached a new all-time high at around 26.97 trillion hashes (T). It is worth noting that according to the Bitcoin algorithm, the difficulty is recalculated every 2,016 blocks (approximately two weeks). The average hashrate remained above 200 EH/s for the first time in this period.
Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange.