Funding of $25 Million Acquired for Progressing Eco-Friendly Cryptocurrency Mining (Bitzero)

Funding of $25 Million Acquired for Progressing Eco-Friendly Cryptocurrency Mining (Bitzero)

In a significant move towards advancing clean mining operations, Bitzero, a company specialising in sustainable blockchain and high-performance computing (HPC) data centers, has secured $25 million in funding. This funding will accelerate the deployment of best-in-class mining technology by Bitzero.

The new funds will primarily be used to purchase and deploy 2,900 Bitmain S21 Pro miners within the next four to six months. These advanced miners operate at an industry-leading energy efficiency of 15 joules per terahash. The deployment is expected to generate an estimated $10 million in additional annual revenue.

Bitzero, headquartered in Vancouver, BC, has already found success in Europe, including the operation of a hydropower-powered data center in Norway. This expansion supports Bitzero's broader strategy to accelerate blockchain mining while expanding its sustainable HPC data center infrastructure.

Mohammed Bakhashwain, President and CEO of Bitzero, stated that their mission is to prove that Blockchain infrastructure can thrive in harmony with investors, communities, and the environment. The company is committed to setting a new global standard for sustainable, community-focused mining operations and improving cryptocurrency’s energy reputation.

Bitzero's operations focus on advancing clean mining operations, and they intend to extend their leadership in sustainable, profitable data centers with the new funding. The company is shifting toward high-margin, energy-intensive computing workloads beyond Bitcoin mining, including artificial intelligence (AI) and high-performance computing (HPC) infrastructure. This positions Bitzero at the forefront of sustainable blockchain and HPC development while driving profitability and reducing its breakeven cost.

Bitzero operates facilities across North America and Europe, utilising hydroelectric and low-carbon energy sources. This strategic move aligns with Bitzero’s mission to capitalise on the growing cryptocurrency market while minimising environmental impact.

[1] [2] [3] [4] - References available upon request.

1. Bitzero's new funding will not only accelerate the deployment of advanced mining technology but also enabling the purchase and deployment of 2,900 Bitmain S21 Pro miners, which operate at an industry-leading energy efficiency, in the realm of environmental-science and technology.
2. As part of its broader strategy, Bitzero, with the additional revenue generated from the miners, aims to expand its sustainable HPC data center infrastructure, venturing into high-margin, energy-intensive computing workloads like artificial intelligence and high-performance computing, where finance plays a pivotal role.

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