KnCMiner Gets $15 Million Boost, Completes Tape-out of 16 nm ASIC

KnCMiner has gotten a $15 million boost, led by Accel Partners and with participation from existing investors Creandum, GP Bullhound and private investor Martin Wattin.

KnC had reportedly been seeking up to $50 million as it shifts focus from selling hardware to 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 mining. The Series B round comes in addition the Series A of $14 million secured last September.

The funding will go toward increasing mining capacity and developing more advanced hardware. The company reportedly completed its 16nm chip tape-out with Alchip at Taiwan Semiconductor Manufacturing Co Ltd (TSMC), claiming to be the first to the market with such technology. When first unveiled last November, the company said that the chip will exhibit a six-fold increase in performance over its 20 nm counterpart.

Said Sam Cole, co-founder and CEO:

"We have invested more than $70M over the last 12 months into building a world-class 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 mining operation and plan to invest a further $150M over the next 18 months as we become one of the key transaction processors within Bitcoin. We are delighted to be partnering with Accel in this next chapter, as we continue building our brand and relationships within the Bitcoin and broader financial communities."

The round shows that investors have confidence in the operation despite previous complaints from customers alleging unfulfilled/delayed orders and refunds.

For a detailed list of recent investment and M&A activity in the crypto industry, please visit the DC Magnates Crypto Deal Table.