DeFi Startup Earnity Raises $15M Led by Miner BitNile

Earnity said the platform will allow users to earn, learn about, collect and gift a variety of tokens and portfolios.

AccessTimeIconDec 6, 2021 at 3:12 p.m. UTC
Updated May 11, 2023 at 5:47 p.m. UTC

Decentralized finance (DeFi) startup Earnity has raised $15 million in a Series A round led by bitcoin mining company BitNile, bringing its total raised to $20 million. Earnity expects to launch its curated financial marketplace for tokens early next year.

  • Earnity said the platform will allow users to earn, learn about, collect and gift a variety of tokens and portfolios in a secure, community-oriented way.
  • Earnity was founded by Domenic Carosa, who also founded fiat-crypto payment processor Banxa Holdings and co-founded crypto-focused investment fund Apollo Capital.
  • Other participants in the round included institutional investors Thorney, which is an Australian Securities Exchange-listed company, and blockchain fund NGC Ventures.
  • As part of the leading investment, BitNile’s executive vice president of alternative investments, Christopher Wu, will join Earnity’s board of directors. The two companies will also form joint ventures to develop and co-promote non-fungible tokens (NFTs) and other DeFi products and protocols.
  • Ault Global Holdings, Inc., BitNile’s publicly-traded parent company, previously announced plans to split into two companies by spinning off the Ault Alliance business to its stockholders. The remaining BitNile business will provide bitcoin mining and data center operations and pursue DeFi-related initiatives.
  • “Earnity is a transformational investment for BitNile as it embarks on not only mining bitcoin, the foundation of the crypto revolution, but also on bringing the benefits of DeFi to individuals worldwide,” said Ault founder Milton Ault in a press release.
  • Meme Coin Liquidity Hits Record High
    00:46
    Meme Coin Liquidity Hits Record High
  • How Ledger Stax Plans to Make Self-Custody More Mainstream
    16:42
    How Ledger Stax Plans to Make Self-Custody More Mainstream
  • Why Dogecoin Is a 'Weird' Investment
    16:39
    Why Dogecoin Is a 'Weird' Investment
  • AI Tokens Surge as Nvidia Becomes World’s Most Valuable Company
    00:47
    AI Tokens Surge as Nvidia Becomes World’s Most Valuable Company
  • Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Brandy Betz

    Brandy covered crypto-related venture capital deals for CoinDesk.


    Read more about