$25 Million Raised by Blockware Mining for Expansion of Bitcoin Mining

There used to be a time when investors, analysts, and influential personalities were able to make a huge difference surrounding an asset. They had the power to make a positive/negative prediction around assets and see the results go in their favor.

Then came Bitcoin (BTC) that has landed its mark on the global markets, although it started from scratch. The digital asset has managed to gain tremendous growth and has brought millions of investors to its platform.

Today, Bitcoin is being criticized by many investors, analysts, and regulators for its volatile nature. They are still of the view that investing in Bitcoin is a waste of useful money that could be used to purchase other long-term saving assets.

However, the firms that have their foundations based on the growth of Bitcoin are not willing to let such opposition convince them away from their loyalty to Bitcoin.

No matter the circumstances, Bitcoin firms have their hopes high for Bitcoin. They are confident that Bitcoin would pick up soon and it needs their contribution as well, which is why they are making heavy investments in the sector.

These firms are also receiving a lot of support and backing from investors that were once non-crypto. This is because Bitcoin (BTC) has a lot to offer to such investors and firms in the long run.

One of many examples proving the above claim is the recent announcement made by Blockware. The firm has announced that it has successfully carried out a funding round bringing in a huge amount of money. According to the firm, it had limited the fundraiser cap to $25 million and they were able to raise it in no time.

The firm has even claimed that their funding round was oversubscribed, meaning that they had more investors willing to participate in the round than they had expected.

With the $25 million figure raised through the funding round, Blockware is willing to increase its mining capacity for Bitcoin. The firm has announced that it is planning to install 8,000 more rigs for mining Bitcoin.

The firm has announced that it is planning to do it through the expansion of its operations in Kentucky. Furthermore, the firm is planning to add the particular rigs at the Paducah campus. The firm had reportedly purchased a huge piece of land estimated to be 5 acres.

The firm has announced that it has already acquired 8,000 mining rigs. The firm has revealed that with the help of the funding rounds, it has managed to acquire a total of 14,000 rigs.

At present, 10% of the total hashrate for mining Bitcoin has been generated by mining firms from the United States. Blockware Mining is aiming to improve and take the Bitcoin network distribution to a better level in the entire world.

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