Envion develops mobile mining units (MMUs) that access local clean energy sources and use an integrated cooling system to lower CO2 emissions and energy costs. The company positions its MMUs as a greener, decentralized approach to blockchain mining. Envion raised €1 million in seed funding from Quadrat Capital, the private investment firm of CEO Matthias Woestmann, with participation from other angel investors. It is also launching an initial coin offering for its own token, which the company says could raise up to a $100 million hard cap. Envion expects to reach mass production of its MMUs next year and has signed a partnership with Germany’s Fraunhofer Institute for Solar Energy Systems (ISE) to study integration with the German electricity system. CEO Matthias Woestmann said the company’s goal is to provide the lowest cost structure in the blockchain mining industry.

Total raised

$1M

Funding rounds

1

Latest round

Seed

Latest activity

Dec 2017