Cryptocurrency mining company CoinMine has received a new injection of funds from an initial financing round of USD 2.5 million led by investment company M13.
Coinmine announced the success of fundraising in an official blog post on August 15. As part of the announcement, Coinmine said it will continue to support more cryptocurrencies and send updates "over the air."
The company offers a product called Coinmine One, which is a general-purpose cryptocurrency mining computer that costs USD 700.
The announcement also included greetings to previous investors, which include family names like Coinbase Ventures and Anthony Pompliano. As Cointelegraph already reported, Robot Ventures also invested in Coinmine in the first quarter of 2019. Robot Ventures, meanwhile, is a blockchain-focused venture capital company that in turn has received financing from Ripple's Xpring, which finances initiatives of development related to Ripple.
In addition, Coinmine says its mission is to support Bitcoin and other decentralized information protocols. According to the announcement, Coinmine believes that the decentralization of calculations will lead to a corresponding decentralization of information and value, in relation to the Bitcoin ideology.
The Icon Foundation launched an incentive initiative to encourage users to participate in the vote and in the commitment to its blockchain network. Icon's idea here was to distribute control of its network through election, as well as to give users more influence on how this network count is distributed through voting. As a reward incentive, the foundation allegedly dedicates 3 million of its native ICX tokens, with an approximate value of USD 570,000, to deliver to users who vote for network controllers.
Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:
https://cointelegraph.com/news/crypto-mining-company-coinmine-secures-25-million-in-seed-round