BitNile leads $15 million Series A for Earnity DeFi platform

DeFi platform Earnity raised $15 million in a Series A funding round. It was led by the mining company BitNile, a subsidiary of Ault Global Holdings.

Ault Global Holdings’ Subsidiary BitNile Leads a $15 Million Series A Investment in Decentralized Finance Platform | Business Wire. The start of a great relationship with Earnity. Visit https://t.co/UXtKPVa3td https://t.co/CLj4lav0CO $NILE $DPW

— BitNile (@BitNile) December 6, 2021

The round also included ASX-listed Thorney and the NGC Ventures fund.

BitNile’s Vice President of Alternative Investments, Christopher Wu, will join Earnity’s board of directors. The companies will form joint ventures to develop NFT and other products.

Earnity is led by Domenic Carosa, founder of the Banxa Holdings payments system and cofounder of the crypto-focused investment fund Apollo Capital. The platform, intended to democratis[e] access to digital assets, is planned to launch in early 2022.

The Ault Global Holdings board approved BitNile a capital increase of $140 million. The funds will be used to purchase 16 000 ASIC devices.

Earlier in November, Persistence, the startup behind the pSTAKE liquidity-staking solution, raised $10 million from Three Arrows Capital, Sequoia Capital India, Galaxy Digital and other investors.

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