MintGreen has closed a seed financing round, led by CoinShares Ventures, the investment arm of the publicly listed digital asset investment firm, as it looks to deploy the first large-scale commercial project to harvest heat from bitcoin mining.
The cryptocurrency market is growing rapidly, with the price of bitcoin up 10x year over year and surpassing a USD1 trillion market cap for the first time. MintGreen’s business model is designed to protect against market volatility and downside risk by greatly subsidising the operating cost of mining.
Meltem Demirors from CoinShares, says: “At CoinShares, we believe bitcoin will drive fundamental changes in the energy and infrastructure sectors.”
According to MintGreen’s CEO Colin Sullivan: “Bitcoin fixes many things, but we find ourselves with the unique opportunity to fix one of bitcoin’s biggest problems without changing a line of code.”
Read more at Private Equity Wire
