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.

AccessTimeIconNov 10, 2021 at 2:28 p.m. UTC
Updated Nov 10, 2021 at 3:22 p.m. UTC

Aoyon Ashraf is managing editor with more than a decade of experience in covering equity markets

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.

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Aoyon Ashraf is managing editor with more than a decade of experience in covering equity markets

CoinDesk - Unknown

Aoyon Ashraf is managing editor with more than a decade of experience in covering equity markets

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