Genesis Digital Assets Asset Profile

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Year established

2021

Location

New York NY US

Primary Industry

Software

About

Founded in 2021 and based in New York, US, General Digital Assets operates as a bitcoin mining company. The firm was founded by Marco Streng and Marco Krohn, Abdumalik Mirakhmedov, Andrey Kim, and Rashit Makhat. In July 2021, Genesis Digital Assets raised USD 125 million in venture funding led by new investor Kingsway Capital. As of July 2021, the company had constructed over 20 industrial-scale mining farms, activated over 300,000 miners, and mined over USD 1 billion in bitcoin. Also, as of July 2021, Genesis Digital Assets' data center capacity exceeds 150 megawatts, resulting in a total hash rate surpassing 2.6 Exahashes (EH/s), or more than 2.6 percent of the worldwide Bitcoin mining hash rate. In September 2021, the company raised USD 431 million led by Paradigm. The company is a bitcoin mining operator that selects optimal mining farm locations. For corporate operations and maintenance, the company also employs mining farm management software. The firm offers a tried-and-true method for constructing bitcoin mining farms, including location reconnaissance, data center design, operation build-out, and optimization. The company plans to purchase equipment, build new data centers and expand its industrial-scale bitcoin mining operations in the US and Nordic region. It also aims to operate the 5.5 Exahashes (EH/s) for the next 12 months and expects to reach a capacity of over 1 gigawatt by the end of 2023.

Current Investors

Kingsway Capital, SkyBridge Capital, Ribbit Capital

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Primary Industry

Software

Sub Industries

e-Financial, Accounting/Finance Software

Website

www.genesisdigitalassets.com

Verticals

Blockchain

Company Stage

Early Stage

Total Amount Raised

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