Skip to content
Herald Sheets

Herald Sheets

Live Cryptocurrency News

Follow Herald Sheets on Twitter, Facebook, Telegram, Please Read Our Disclaimer

  • Homepage
  • Start Trading
  • Guide
  • Crypto News
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Ripple (XRP)
    • Dogecoin (DOGE)
    • Cardano (ADA)
    • Litecoin (LTC)
  • Analysis
  • Blockchain
  • Mining
  • Reviews
    • Brokers
    • Exchanges
  • Regulation
  • Press Release
  • About Us
    • Contact Us
    • Privacy Policy
    • Submit Press Release
  • Disclaimer
  • Crypto Mining
  • Cryptocurrency
  • News

Genesis Digital Assets Raises $125M as Mining Sector Turns to West

Lucas Williams July 31, 2021 3 min read

Genesis is one of the biggest Digital Assets and mining companies. Genesis completed the homework to expand its hashing capacity more than triple, from 2.6 EH/s to 8.1 EH/s. Genesis Digital Assets has become the most recent Bitcoin mining firm to raise millions towards plans for forceful extension in the midst of the mass migration of excavators from China because of its crackdown on the area.

Genesis joined hands with UK’s Kingsway Capital, they closed fundraising on the $125million mark. The equity fundraising held on yesterday gave a huge boost to crypto miners. The capital will be assembled to buy mining equipment and dispatch new server farms in the United States and Nordic area.  However, as the result of this strategic partnership, the CEO of Kingsway Capital, Manuel Stotz, will join Genesis as a member of the board of executives.


trade now

Both parties are now working on developing exceptionally productive and enormous plans of Bitcoin digging farms for almost eight years and the business has just been around for twelve. Bitcoin will be the main innovation for monetary consideration of the worldwide poor and unbanked and mining gives security to make this conceivable.”

Since its inception back in 2013, Genesis has mined bitcoin’s worth over $1billion dollars. Genesis is not the only digital assets mining company to expand its mining operation worldwide amid China’s crackdown against bitcoin mining. But some of the world’s other crypto mining companies are also looking to expand their mining operations while Russia and U.S have already offered their territories for bitcoin mining.

However, in another latest development, Chinese-based Bit Mining announced that company has agreed on the terms and conditions to add 2,500 new bitcoin mining machines with an estimated worth of $6.6 million. The machines will be installed in Kazakhstan, the deployment of these machines will enhance the company’s hash rate up to 165 PH/S. The fact is that bitcoin mining has become extremely decentralized over the past 2 years and relatively smaller mining firms have increased their international market mining share. Cointelegraph likewise revealed that the Chinese hash rate had been consistently declining for over one year paving the way to the crackdown, with China’s hash power contracting from 75.5% of the worldwide all out in September 2019 to 46% as of April 2021.

However, it has been expected that Genesis will expand its hashing capacity up to 5.5 exahashses by the end of the year 2023. The recent signs are encouraging for the bitcoin mining community. Bitcoin’s recent popularity is really welcoming news for the traders and community. U.S and Russian authorities are aggressively working on capitalizing on bitcoin mining.

Trade Now

HeraldSheets.com produces top quality content for crypto companies. We provide brand exposure for hundreds of companies. All of our clients appreciate our services. If you have any questions you may contact us easily with Herald Sheets Facebook Messenger App. Cryptocurrencies and Digital tokens are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by our authors and the views expressed in them do not reflect the views of this website. Herald Sheets is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. Read full terms and conditions / disclaimer.

Continue Reading

Previous: Amount of Bitcoin Held by Whales Reaches an All Time High
Next: FP Markets Review – Is FP Markets Scam or a Proper Broker?

Related Stories

Binance.US Halts OCBS and BUSD Transactions
3 min read
  • Binance
  • Crypto Trading
  • Cryptocurrency
  • Decentralized Cryptocurrency Exchange (DEX)
  • News
  • Regulation
  • Stablecoin

Binance.US Halts OCBS and BUSD Transactions

March 31, 2023
Forta Network And Blockfence Join Forces To Bolster Security For Web3 Users
3 min read
  • Blockchain
  • Cryptocurrency
  • Ethereum (ETH)
  • News
  • Scam / Hack
  • Web3

Forta Network And Blockfence Join Forces To Bolster Security For Web3 Users

March 31, 2023
Upbit Holds The Second-Largest ARB Token Amount After Binance – Report
3 min read
  • Altcoins
  • Binance
  • Blockchain
  • Crypto Trading
  • Cryptocurrency
  • Decentralized Cryptocurrency Exchange (DEX)
  • Ethereum (ETH)
  • News
  • Stablecoin

Upbit Holds The Second-Largest ARB Token Amount After Binance – Report

March 31, 2023

Top 10 Crypto

Name Price24H (%)
bitcoin
Bitcoin (BTC)
$28,467.00
2.14%
ethereum
Ethereum (ETH)
$1,827.07
1.91%
tether
Tether (USDT)
$1.00
-0.02%
binancecoin
BNB (BNB)
$315.34
-0.35%
usd-coin
USD Coin (USDC)
$1.00
0.14%
ripple
XRP (XRP)
$0.51
-5.27%
cardano
Cardano (ADA)
$0.391684
1.55%
dogecoin
Dogecoin (DOGE)
$0.076973
3.37%
polkadot
Polkadot (DOT)
$6.27
1.71%
binance-usd
Binance USD (BUSD)
$1.00
-0.09%

Recent Posts

  • Binance.US Halts OCBS and BUSD Transactions
  • Forta Network And Blockfence Join Forces To Bolster Security For Web3 Users
  • Upbit Holds The Second-Largest ARB Token Amount After Binance – Report
  • SHIB’s Transaction Volume Surges By 700%; Here’s Why
  • Tokenization Of Real Word Assets To Reach $4-$5 Trillion By 2030 – Citi
  • UNICEF Announces Crypto Project, Tests Prototype DAO
  • FTX EU Launches New Website For User Withdrawal Requests
  • Gemini To Launch A Global Derivatives Platform Amidst Binance’s Regulatory Issues
  • Hong Kong’s New Fund Seeks $100M To Back New Digital Asset Projects
  • Injective Unveils L2 Testnet For Developers To Test Solana-Based Apps In Cosmos
  • Thailand SEC Considering Lifting Restrictions On ICOs
  • US SEC Forces Crypto Exchange To Shut Down
  • Russia Delays CBDC Launch, But Banks Are Eager To Experiment
  • Priority Trading Review (Priority-Trading.Com) – Is Prioritytrading Scam Or A Proper Broker?
  • Crypto Safety And Transparency At The Forefront Of Australian Senator’s Proposed Bill

Categories

You may have missed

Binance.US Halts OCBS and BUSD Transactions
3 min read
  • Binance
  • Crypto Trading
  • Cryptocurrency
  • Decentralized Cryptocurrency Exchange (DEX)
  • News
  • Regulation
  • Stablecoin

Binance.US Halts OCBS and BUSD Transactions

March 31, 2023
Forta Network And Blockfence Join Forces To Bolster Security For Web3 Users
3 min read
  • Blockchain
  • Cryptocurrency
  • Ethereum (ETH)
  • News
  • Scam / Hack
  • Web3

Forta Network And Blockfence Join Forces To Bolster Security For Web3 Users

March 31, 2023
Upbit Holds The Second-Largest ARB Token Amount After Binance – Report
3 min read
  • Altcoins
  • Binance
  • Blockchain
  • Crypto Trading
  • Cryptocurrency
  • Decentralized Cryptocurrency Exchange (DEX)
  • Ethereum (ETH)
  • News
  • Stablecoin

Upbit Holds The Second-Largest ARB Token Amount After Binance – Report

March 31, 2023
SHIB’s Transaction Volume Surges By 700%; Here’s Why
3 min read
  • Blockchain
  • Crypto Trading
  • Cryptocurrency
  • Decentralized Cryptocurrency Exchange (DEX)
  • News
  • NFT (Non-fungible token)
  • Shiba Inu (SHIB)

SHIB’s Transaction Volume Surges By 700%; Here’s Why

March 31, 2023
Copyright © All rights reserved. | DarkNews by AF themes.
  • RelevantRelevant(REL)$0.825.35%
  • TadpoleTadpole(TAD)$7.32-1.74%
  • SEENSEEN(SEEN)$2.05-2.27%
  • EvedoEvedo(EVED)$0.082301-0.80%
  • MarginswapMarginswap(MFI)$0.184213-2.11%
  • SakeTokenSakeToken(SAKE)$0.0127135.28%
  • WTF TokenWTF Token(WTF)$0.0113500.17%
  • BNSD FinanceBNSD Finance(BNSD)$0.005461-5.83%
  • RobotinaRobotina(ROX)$0.00266138.50%
  • CageCage(C4G3)$0.005010-3.67%