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Crypto Miner MineOne Raises Over $20M in First Funding Round
The New York-based company, which launched in October, is now raising money for its second round.
Crypto miner MineOne has raised more than $20 million in its first funding round since the company started last month.
- The company said it plans to raise $200 million and expand its global operating capacity to 400 megawatts by the end of 2022.
- It has 80,000 crypto mining machines, and expects to increase that to 135,000 by the end of next year.
- The miner has fully operational capacity of 50 megawatts in Russia and Kazakhstan and plans to deliver an additional 30 megawatts in the U.S. by the end of this year, according to the company’s website.
- MineOne is building up its East Point, Ga., mining site for its U.S. operations and expects about half of its mining machines there to be operational in December and the other half in April.
- The company is also constructing a mining site in Alberta, Canada. It expects the site to go online in December with 20 megawatts of operation capacity, with an additional 70 megawatts by April.
Aoyon Ashraf
Aoyon Ashraf is CoinDesk's managing editor for Breaking News. He spent almost a decade at Bloomberg covering equities, commodities and tech. Prior to that, he spent several years on the sellside, financing small-cap companies. Aoyon graduated from University of Toronto with a degree in mining engineering. He holds ETH and BTC, as well as ALGO, ADA, SOL, OP and some other altcoins which are below CoinDesk's disclosure threshold of $1,000.
