FTX participated in a round billed as the largest known funding round for a bitcoin miner, with the proceeds earmarked for upgrading Genesis's clean energy resources.
US-based Bitcoin mining company Genesis Digital Assets secured $431m on Tuesday in a funding round that featured cryptocurrency derivatives exchange FTX.
Crypto investment firm Paradigm led the round, which was filled out by Nydig, Stoneridge, Ribbit Capital, Electric Capital, SkyBridge and Kingsway Capital, the last of which had provided $125m for the company just two months ago.
Genesis aims to be the largest and most profitable Bitcoin mining operation by 2025 and claims to already account for 2.4% of the…
Fernando Moncada Rivera
Fernando Moncada Rivera is a reporter at Global Corporate Venturing and also host of the CVC Unplugged podcast.
