Skip to content Skip to sidebar Skip to footer

Without grida bitcoin mining company that focuses on rural communities in East Africa, raised $2 million in a seed investment round led by Stillmark and Block, Inc.., according to a press release sent to Bitcoin Magazine. This is in addition to a round of angels led by Factor[e].

The investment is intended to support the continued expansion of bitcoin mining across Africa. Regarding this mission, Gridless CEO Erik Hersman said, “Africa needs affordable electricity. Our work supporting renewable energy mini-grid developers fills a gap, helping developers grow faster, be more sustainable, and serve thousands of homes. This investment and the high caliber of partners behind us means that we can accelerate our deployment knowing that we have both the capital and the strategic support necessary. »

In its first year of operation, Gridless secured five different pilot project contracts in rural areas of Kenya alongside HydroBox, an African hydropower company. Three of these pilots are now operational. Gridless funds the construction and manages the operation of data centers in these rural communities. The company now aims to expand to other parts of East Africa.

Regarding their decision to lead this funding round alongside Block, Alyse Killeen, Managing Partner at Stillmark, said, “Stillmark is focused on investing in companies that help advance the Bitcoin ecosystem in a way to deliver value and lasting solutions to many. Gridless achieves this by taking a socially and environmentally responsible approach to bitcoin mining, an approach that delivers tangible benefits through access to electricity for communities in rural East Africa.

Source link

Leave a comment