The American mining company Genesis Digital Assets has raised $125 million in equity financing to support expansion in the United States and Nordic countries.<\/p>\n
According to the press release<\/a>, the round was led by Kingsway Capital, a British private equity firm with assets under management of more than $2 billion.<\/p>\n Its CEO Manuel Stotz joined the board of Genesis Digital Assets.<\/p>\n Kingsway focuses on promising emerging markets. Commenting on the investment in the American firm, the fund’s head said:<\/p>\n \\”Bitcoin will be the most important technology for the financial inclusion of the poor and the unbanked, and mining provides the security that makes this possible.\\”<\/p>\n<\/blockquote>\n Genesis Digital Assets plans to deploy the raised capital to purchase equipment and to build data centres in the United States and Nordic countries.<\/p>\n As of July 2021, the company’s installed Bitcoin mining capacity stood at more than 150 MW, generating a hashrate of over 2.6 EH\/s. It is expected to reach 5.5 EH\/s within the next 12 months.<\/p>\n In April 2021, the Chinese manufacturer Canaan Creative announced<\/a> the sale of Genesis Digital Assets’ ASIC miners for $93.63 million as part of a strategic partnership.<\/p>\n\n