Search ForexCrunch
  • Bitcoin mining firm, VBit DC, has raised $1.1 million in a seed funding round led by angel fund Golden Age. 
  • The fund will be used to set up a 200 MW (megawatt) Bitcoin mining center in Alberta, Canada. 

VBit DC, a Bitcoin mining company, has raised $1.1 million in a seed funding round led by angel fund Golden Age. VBit noted that it will be using the raised capital to set up a 200 MW (megawatt) Bitcoin mining center in Alberta, Canada. 

The size of the center and access to inexpensive electricity will allow VBit DC to offer its customers increased mining efficiency and considerably better ROI [return on investment]than was previously possible.

VBit DC is a subsidiary of Philadelphia-based VBit Technologies. Since 2018, the latter has offered mining packages to the general public. It claims to have helped around 3,000 customers earn passive income through mining. Danh Vo, founder and CEO of VBit Technologies, said:

We expect more people to join us as our new data center will make a change out there in terms of accessibility and clarity of ROI.