Bitcoin Mining Startup Blockmetrix Raises $43M in Series B Round

Blockmetrix plans to grow rapidly by using the maximum amount of available capital and debt to buy mining rigs, while controlling power costs through various joint ventures, CEO and co-founder Nevin Bannister told CoinDesk. “Through [joint ventures] we will obtain part-ownership of a co-location facility to ensure low power rates and a place to house our bitcoin miners,” he said. The company’s JV partners will be responsible for the development and operation of the co-location facility, which will help channel the majority of the funding directly towards increasing hashrates rather than building infrastructure, Bannister explained.