Foundry Digital backs Blockcap with $75 million funding
American mining company Blockcap raised $75 million in two rounds of financing from Foundry Digital and Off The Chain Capital, according to Cointelegraph. The funds will be used to expand its Bitcoin mining fleet from 12,000 to 30,000 devices. Blockcap estimates that by year-end its hash rate will reach 3.5 EH/s. Blockcap was founded in 2020 by former employees of the American blockchain-hosting provider Core Scientific. The company houses all of its mining rigs in Core Scientific's data centers.