Bitcoin-focused financial services company Swan Bitcoin has revealed that it launched a new Bitcoin mining venture called Swan Mining last summer to expand its institutional offerings and is now "actively working" to expand its institutional offerings over the next 12 months. Become a public company.
Swan Bitcoin said that Swan Mining, which was launched and operating in "stealth mode", has mined 750 Bitcoins from its current hash rate capacity of 4.5 exahashes per second (EH/s). The company expects its hashrate capacity to exceed 8 EH/s when it deploys new mining equipment in March. Swan said the motivation for establishing the mining unit was part of a plan to build a more “comprehensive” Bitcoin company. Swan also emphasized that its mining company will not draw on debt and keep its balance sheet separate from other business units; it intends to divide the next round of Series C financing equally among its financial services, mining and acquisition enterprises, its CEO Cory Klippsten is "actively working" toward a public listing within the next 12 months.
Rapha Zagury, chief investment officer and head of Swan Mining, revealed that the company launched in stealth mode to avoid disruption to the pricing of ASIC mining machines. Swan Mining is also working with several "industry players" with plans to support capital raisings, restructure balance sheets and unlock "significant operational and financial advantages" for partners. Swan also stressed that its financial services division remains "healthy" and continues to grow, generating $125 million in revenue and doubling its headcount in the past two months.
Bitcoin-focused financial services company Swan Bitcoin has revealed that it launched a new Bitcoin mining venture called Swan Mining last summer to expand its institutional offerings and is now "actively working" to expand its institutional offerings over the next 12 months. Become a public company.
Swan Bitcoin said that Swan Mining, which was launched and operating in "stealth mode", has mined 750 Bitcoins from its current hash rate capacity of 4.5 exahashes per second (EH/s). The company expects its hashrate capacity to exceed 8 EH/s when it deploys new mining equipment in March. Swan said the motivation for establishing the mining unit was part of a plan to build a more “comprehensive” Bitcoin company. Swan also emphasized that its mining company will not draw on debt and keep its balance sheet separate from other business units; it intends to divide the next round of Series C financing equally among its financial services, mining and acquisition enterprises, its CEO Cory Klippsten is "actively working" toward a public listing within the next 12 months.
Rapha Zagury, chief investment officer and head of Swan Mining, revealed that the company launched in stealth mode to avoid disruption to the pricing of ASIC mining machines. Swan Mining is also working with several "industry players" with plans to support capital raisings, restructure balance sheets and unlock "significant operational and financial advantages" for partners. Swan also stressed that its financial services division remains "healthy" and continues to grow, generating $125 million in revenue and doubling its headcount in the past two months.
Subscribe to SXDCA
Subscribe to SXDCA
SXDCAIOST node partner Sigma launches cross-chain bridge Sigma-Bridge
IOST node partner Sigma officially launched the cross-chain bridge Sigma-Bridge today. It is reported that Sigma-Bridge is an asset cross-chain tool developed by Sigma for fast asset transactions and contract calls between major compatible networks. It was originally created to realize two-way conversion between IOST and ETH assets, and now it can realize asset transfer between other ecosystems (such as IOST and BSC). In the future, Sigma will gradually expand Sigma-Bridge to other high-perfo...
SXDCABitwise Bitcoin custody address received 1036 Bitcoins from market maker Flow Traders 50 minutes ago
On-chain analyst Embers tweeted that the Bitwise BTC (BITB) custody address received 1,036 Bitcoin (BTC) from market maker Flow Traders 50 minutes ago, worth approximately $40.05 million. Accordingly, BITB’s net inflows on January 22 reached $41.56 million.
SXDCARBI Governor: Cryptocurrencies threaten rupee stability, urges investors to remain cautious
According to News.bitcoin, Bank of India Governor Shaktikanta Das issued multiple warnings about cryptocurrencies at the World Economic Forum in Davos this week, saying: “Cryptocurrencies carry huge risks, especially for emerging market economies. Because it affects financial stability, monetary stability and the monetary system." “Cryptocurrency has no underlying layer, it’s not a currency, but it has the potential to become one, in which case it can take over part of the payment system, it ...
SXDCAIOST node partner Sigma launches cross-chain bridge Sigma-Bridge
IOST node partner Sigma officially launched the cross-chain bridge Sigma-Bridge today. It is reported that Sigma-Bridge is an asset cross-chain tool developed by Sigma for fast asset transactions and contract calls between major compatible networks. It was originally created to realize two-way conversion between IOST and ETH assets, and now it can realize asset transfer between other ecosystems (such as IOST and BSC). In the future, Sigma will gradually expand Sigma-Bridge to other high-perfo...
SXDCABitwise Bitcoin custody address received 1036 Bitcoins from market maker Flow Traders 50 minutes ago
On-chain analyst Embers tweeted that the Bitwise BTC (BITB) custody address received 1,036 Bitcoin (BTC) from market maker Flow Traders 50 minutes ago, worth approximately $40.05 million. Accordingly, BITB’s net inflows on January 22 reached $41.56 million.
SXDCARBI Governor: Cryptocurrencies threaten rupee stability, urges investors to remain cautious
According to News.bitcoin, Bank of India Governor Shaktikanta Das issued multiple warnings about cryptocurrencies at the World Economic Forum in Davos this week, saying: “Cryptocurrencies carry huge risks, especially for emerging market economies. Because it affects financial stability, monetary stability and the monetary system." “Cryptocurrency has no underlying layer, it’s not a currency, but it has the potential to become one, in which case it can take over part of the payment system, it ...
Share Dialog
Share Dialog
<100 subscribers
<100 subscribers
No comments yet