1,985
4
Essay, 1 pages (200 words)

Kncminer to build new mining chips

Swedish maker of bitcoin miners, KnCMiner, has announced a $14 million Series A to help build out new mining chips along with hosted mining services.

Founded by Sam Cole and Andreas Kenner, the company raised with GP Bullhound advising. Creandum led the round.

“ The funding will enable KnCMiner to expand its mining operations and ability to offer services to consumers in relation to the Bitcoin environment,” said the company in a release.

KnCMiner has been making heavy-duty ASIC systems that literally move the bitcoin markets a few seconds after they are deployed. The company is working on new chips now.

“ We are improving our 20nm ASIC capability, and for R&D on the next generation ASIC chip which will come on-stream next year and will represent a step-change in processing capacity,” said Cole.

The company has not been actively looking for funding. Most of their miners sell out immediately during pre-order periods and they’ve been able to fund the entire venture on their own. Now, however, they’re looking to expand operations in hosted mining as well as create new chips faster.

The company is definitely still bullish on bitcoin and will be looking for about $70 million in Series B funding in the next year.

Thank's for Your Vote!
Kncminer to build new mining chips. Page 1
Kncminer to build new mining chips. Page 2

This work, titled "Kncminer to build new mining chips" was written and willingly shared by a fellow student. This sample can be utilized as a research and reference resource to aid in the writing of your own work. Any use of the work that does not include an appropriate citation is banned.

If you are the owner of this work and don’t want it to be published on AssignBuster, request its removal.

Request Removal
Cite this Essay

References

AssignBuster. (2022) 'Kncminer to build new mining chips'. 30 September.

Reference

AssignBuster. (2022, September 30). Kncminer to build new mining chips. Retrieved from https://assignbuster.com/kncminer-to-build-new-mining-chips/

References

AssignBuster. 2022. "Kncminer to build new mining chips." September 30, 2022. https://assignbuster.com/kncminer-to-build-new-mining-chips/.

1. AssignBuster. "Kncminer to build new mining chips." September 30, 2022. https://assignbuster.com/kncminer-to-build-new-mining-chips/.


Bibliography


AssignBuster. "Kncminer to build new mining chips." September 30, 2022. https://assignbuster.com/kncminer-to-build-new-mining-chips/.

Work Cited

"Kncminer to build new mining chips." AssignBuster, 30 Sept. 2022, assignbuster.com/kncminer-to-build-new-mining-chips/.

Get in Touch

Please, let us know if you have any ideas on improving Kncminer to build new mining chips, or our service. We will be happy to hear what you think: [email protected]