TechFlow, July 24 — According to The Block, cryptocurrency mining company Bitzero has raised $25 million to expand its mining operations.
The company plans to use part of the funds to purchase 2,900 Bitmain S21 Pro mining rigs. Bitzero said these high-efficiency machines will be deployed within four to six months, generating an estimated $10 million in additional annual revenue and further lowering the company's break-even point.
"This new funding enables us to build on our success, accelerate the deployment of best-in-class mining technology, and expand our leadership position in the sustainable, profitable data center space," said Mohammed Bakhashwain, President and CEO of the company.
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