Bitcoin Miner Gridless Raises $2 Million in Funding
Bitcoin (BTC) mining company Gridless has raised $2 million in an investment round led by Jack Dorsey’s company Block.
The downward trend of the crypto currency market has also seriously affected Bitcoin mining. The fact that mining costs could hardly be covered by excavation revenues has become an important problem. Many corporate crypto mining companies have been deleted from the market by declaring bankruptcy. The Chapter 11 bankruptcy granted by Compute North revealed problems on the mining side. But despite all this negative weather, many crypto miners continue to take steps towards the future. One of these companies, Gridless, focused on renewable energy sources in its vision for East Africa. The biggest support for Gridless came from the Block company.
Bitcoin Miner Raises $2 Million in a Round Led By Block
Bitcoin mining company Gridless, which is helping to create new energy sources in the East African rural lands, is making strong strides. The company has attracted attention with the resources it has created in the African region. The round, led by Stillmark and Jack Dorsey’s Block company, raised $2 million in funding for Gridless.
The investment will support the company to expand and strengthen its Bitcoin mines in the African region. Gridless started working with hydroelectric power company HydroBox in rural Kenya in his first year. As a result of this agreement, five project pilots, three of which are currently in operation, became the subject of the contract.