Participated · Equity · Sep 2021

Genesis Digital Assets operates industrial-scale Bitcoin mining data centers and has built extensive mining infrastructure since 2013. As of September 2021 the company reported over 170 megawatts of capacity and a hashrate exceeding 3.3 EH/s (more than 2.4% of the global total). Another 8.6 EH/s was expected to come online over the following 12 months, and the company targets over 1.4 gigawatts of capacity by the end of 2023. Founders and the team have built over 20 industrial-scale mining farms, brought over 300,000 miners online, and mined over $1 billion in Bitcoin. Genesis plans to expand operations in the US and the Nordics, prioritizing locations with accessible clean energy to scale efficiently. The company raised strategic capital to fund that expansion and to accelerate deployment toward its 1.4 GW goal. Genesis Digital Assets operates industrial-scale bitcoin mining farms and data centers. Its core activity is large-scale bitcoin mining; the company has brought over 300,000 miners online and mined more than $1 billion in bitcoin. As of July 2021 its data center capacity exceeds 150 megawatts, yielding a hashrate above 2.6 EH/s (about 2.6% of the global Bitcoin mining hashrate). The company plans to add another 5.5 EH/s in the next 12 months and expects to reach over 1 gigawatt of capacity by the end of 2023. Founded by Marco Streng, Marco Krohn and three former mining executives, Genesis has built over 20 industrial-scale mining farms since 2013. Financially, it recently raised equity to fund equipment purchases and build new data centers in the United States and the Nordic region.