Blockmetrix, a Texas-based bitcoin mining startup, raises $43 million in Series B

Blockmetrix, a Texas-based American bitcoin mining startup, raised $43 million in a Series B funding round.

According to заявлению, investors from the United States, Australia and Asian countries participated. The round size exceeded expectations, the startup said.

The funding will be used to expand the business. The company expects to purchase about 5,000 additional mining devices.

From the Series A funding of $7 million, the firm had previously acquired more than 1,000 ASIC miners. The total capital raised by the startup has reached $50 million.

“The fastest scaling of our company has been our main prerogative since day one. We aim to sustain this momentum and meet industry demand, possibly advancing toward a third funding round. We are grateful to our investors for their trust,” said Nevin Banister, co-founder and CEO of Blockmetrix.

In February, the revenue of bitcoin miners fell by 13%, just over $1 billion.