TechFlow News, Canadian crypto mining company Pow.re announced on Thursday the completion of a $9.2 million Series A funding round and secured $18 million in strategic investment. The Series A round valued the company at $150 million, led by Haru Invest, with participation from Trinito and RFD Capital. The $18 million strategic investment from Haru will fund the company's expansion in Paraguay.
With the expansion in Paraguay, the mining firm expects to have over 500 PH/s of mining capacity this quarter, powered by hydropower.
Pow.re also operates a mining facility in Wabush, Labrador, in Canada’s Atlantic region, which runs on hydropower, as well as a mining site near the Saint Lawrence River in Quebec that uses wind power.
Recently, another Canadian mining company, Blockstream, raised $125 million to expand its Bitcoin mining infrastructure and hosting services.Source link
