Crypto funding: $24M week for bitcoin miner, crypto lending platform


Five crypto or blockchain-based firms raised a total of $24 million this week, with bitcoin mining and crypto lending attracting the most attention and capital.

Utah-based bitcoin miner Nodal Power, which doubles as an energy company, took the spotlight with a $13 million haul on Monday. 

A collection of a dozen angel investors, most of them based in and around Utah, helped kick in funds for Nodal Power, a firm dedicated to energizing its miners with flared methane gas from landfills. 

At present, Nodal Power has two data centers, one in the southwestern United States and the second in the “mountain west.” The company didn’t reveal the specific locations of the data centers, but both of them are powered by landfill gas.

The first operates at 3.2 megawatts (MW) of electricity generation and 15 petahashes per second (PH/s) of computing power. 

The second is a 1.6 MW site with a hashing power of 50 PH/s. 

The $13 million just raised by the company is going toward constructing a third mining location that’s estimated to operate at 60-70 PH/s once completed in early…

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