KnCMiner gets $14 million in Series A funding

KnCMiner has secured $14 million in Series A funding, led by venture capital firm Creandum. The funding will be used to "to expand its mining operations and ability to offer services to consumers in relation to the Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term environment."

KnCMiner notes that the funding comes as the company has expanded from a mining equipment manufacturer to now offer software, apps and Cloud Cloud The cloud or cloud computing helps provides data and applications that can be accessed from nearly any location in the world so long as a stable Internet connection exists. Categorized into three cloud services, cloud computing is segmented into Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS). In terms of trading, the versatility of the cloud service allows retail traders the ability to test out new trading strategies, backtest pre-existing conc The cloud or cloud computing helps provides data and applications that can be accessed from nearly any location in the world so long as a stable Internet connection exists. Categorized into three cloud services, cloud computing is segmented into Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS). In terms of trading, the versatility of the cloud service allows retail traders the ability to test out new trading strategies, backtest pre-existing conc Read this Term services. It also offers its own bitcoin wallet, KnCWallet. Sam Cole, the company's co-founder, also mentioned recent investments in intellectual property.

GP Bullhound, a technology-focused investment banking group with a presence in both London and Stockholm, KnC's home, advised on the deal. Its Managing Partner Per Roman said:

"We believe bitcoin will have a tremendous impact on a global scale. KnC is already the leading vendor of mining equipment and we are delighted to act as advisor as well as investor to this world-class management team."

Last week, KnC announced its launch of cloud-based mining contracts.