KnCMiner is a professional bitcoin mining company that develops chip designs and cloud services for blockchain-based applications and cryptocurrency mining. The company runs industrial-scale mining operations in multiple locations with a main focus in the Arctic Circle. It has completed a 16nm chip tape-out with Alchip at TSMC and expects to be first to market with this next-generation chip technology. KnCMiner intends to use the new capital to increase its bitcoin mining capacity. Since launch the company has generated over $100M in revenue. KnCMiner was founded in 2013 by CEO Sam Cole. KnCMiner builds heavy-duty ASIC systems for Bitcoin mining and offers hosted mining services to consumers. The company is working on improving its 20nm ASIC capability and conducting R&D on a next-generation ASIC chip planned to come on-stream next year. Management says the next-generation chip will represent a step-change in processing capacity. KnCMiner has largely self-funded to date, with miners that typically sell out during pre-order periods. The newly announced funding will enable the company to expand mining operations, accelerate chip development, and broaden hosted-mining offerings. Founders Sam Cole and Andreas Kenner are steering the company’s push to scale.

Total raised

$29M

Funding rounds

2

Latest round

Series B

Latest activity

Feb 2015