Genesis Bitcoin Miner Raises $125 Million

Genesis Digital Assets, a bitcoin mining company active since 2013, has announced a $125 million round of equity funding to support the firm’s expansion plans.

The round came from Kingsway Capital, a UK-based private equity fund. Kingsway is focused on frontier emerging markets and has over $2 billion in assets under management (AUM). Their CEO, Manuel Stotz, who joined Genesis’ board of directors as part of the round, commented on funding the bitcoin miner:

“Bitcoin is going to be the most important technology for financial inclusion of the global poor and unbanked and mining provides security to make this possible,” Stotz said. “The [Genesis] team has been building highly profitable large-scale bitcoin mining farms for nearly eight years and the industry has only been around for twelve.”

Leave a Reply

Your email address will not be published. Required fields are marked *