Pow.re Closes $9.2 Million Series A Round and $18 Million Strategic Investment
Pow.re, a Canadian crypto mining firm, has announced the successful closing of a $9.2 million Series A round and a $18 million strategic investment. The Series A round was led by crypto asset management platform Haru Invest, with support from digital assets trading company Trinito and RFD Capital. This round valued the company at $150 million. The strategic investment, also from Haru, will be used to finance the company‘s expansion into Paraguay. This investment will help Pow.re to continue to grow and develop its crypto mining capabilities, allowing it to better serve its customers and expand its reach.
Pow.re Accelerates Growth with Strategic Partners and Investors
Pow.re, a miner of digital assets, is grateful for the support and conviction of its strategic partners and investors. Calvin Tay, the Group CFO, expressed his appreciation in a statement. This mandate will allow the company to accelerate its growth and capitalize on current market opportunities. To further this goal, Pow.re is expanding its operations to Paraguay, which will bring its mining capacity to over 500 Petahash per second (PH/s) this quarter.
Pow.re Commits to Renewable Energy Sources
Blockstream, a Canadian mining company, recently raised $125 million to expand its bitcoin mining facilities and hosting services. Pow.re, another Canadian mining company, is also expanding its operations to Paraguay, powered by hydroelectricity. Additionally, Pow.re operates mining facilities in Wabush, Labrador, in northern Atlantic Canada, which also uses hydropower, as well as a facility near Quebec’s St. Lawrence River which uses wind power. This demonstrates Pow.re‘s commitment to sustainability and renewable energy sources.
