The mining company Bitzero has successfully raised $25 million in investments, which will be directed towards expanding and modernizing its infrastructure. The names of the investors remain undisclosed; however, it is known that part of the funds will be invested in the purchase of 2,900 modern Bitmain S21 Pro miners.
This is reported by Finway
Bitzero’s Plans for Scaling and Increasing Profitability
According to the company, the installation of the new equipment will take between four to six months. It is expected that this will allow Bitzero to generate an additional approximately $10 million in annual revenue, as well as further reduce its breakeven point, which is already one of the lowest in the cryptocurrency mining market. This will enhance the company’s competitiveness and ensure stable growth in the future.
Sustainable Technologies and Geographic Expansion
Bitzero is actively implementing eco-friendly technologies, utilizing hydroelectric power and other low-carbon energy sources to operate its data centers in North America and Europe. Last month, the company announced further development of its facilities in North Dakota (USA), Norway, and Finland, highlighting its commitment to sustainable development and global presence.
“This new funding allows us to build on our success, accelerate the adoption of the best mining technologies, and strengthen our leadership in sustainable and profitable data centers,” said Bitzero President and CEO Mohammed Bahashwain.
It is worth noting that recently, the company xTAO also raised $22.8 million for the development of the Bittensor project.