Bitcoin miner Blockcap closes $75M investment led by Off The Chain, Foundry Digital

Bitcoin miner Blockcap closes $75M investment led by Off The Chain, Foundry Digital


Blockcap, one of North America’s fastest-growing Bitcoin (BTC) mining companies, has secured sizable investments from some of crypto’s biggest names, setting the stage for significant expansion in the year ahead.

Off The Chain Capital and Foundry Digital, a subsidiary of Digital Currency Group, contributed to the $75 million haul, Blockcap announced Wednesday. The funding will go towards scaling the company’s mining operations and promoting the continued growth of digital assets in the United States.

Blockcap was founded in 2020 by a group of blockchain veterans. It now commands a fleet of roughly 12,000 machines mining roughly 7 BTC per day. That figure is expected to grow to more than 30,000 by the end of the year, helping the company expand its hashing power to more than 3.5 EH/s. As Cointelegraph previously reported, Blockcap estimates that its mining hardware is valued at $270 million on secondary markets.

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Currently, Blockcap accounts for nearly 1% of all Bitcoin network transactions, the company said

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