By Shikha Singh
HIVE Digital Set To Acquire Bitcoin Miner Bitfarms’ 200 MW Paraguay Site in $85 mn Deal
HIVE Digital has signed a binding letter of intent to acquire Bitfarms’ partially-completed 200 MW Bitcoin mining site in Yguazú, Paraguay, for $85 million.
The deal, set for completion in Q1 2025, includes a $56 million acquisition price and $19 million in power deposit reimbursements.
The site, developed in two phases, will add 12.5 EH/s in mining capacity once finished. HIVE plans to expand its total capacity to 25 EH/s by September 2025, representing 3% of the global Bitcoin network, aiming for $500 million in annual revenue.
The acquisition will increase HIVE’s operational capacity in Paraguay to 300 MW. HIVE has secured miners for the expansion, including Bitmain S21+ hydro ASICs and Canaan Avalon A-series miners.
Sei Foundation Launches $65 mn DeSci Venture Fund ‘Sapien Capital’
The Sei Foundation has launched a $65 million venture fund, “Sapien Capital — Open Science Fund I,” focused on investing in decentralized science (DeSci) startups built on the Sei blockchain.
The fund, fully backed by the Sei Foundation, will make venture investments in DeSci startups, including both tokens and equity, with investments ranging from $100,000 to $2 million.
The fund aims to deploy its capital over the next 3-4 years and is targeting advancements in areas like wearables, user-owned data collectives, and gamified drug discovery.
Freedx Secures $50 mn in Funding to Transform the Crypto Trading Experience
Freedx, a newly launched cryptocurrency exchange, has raised $50 million in funding and secured regulatory approvals in Panama and El Salvador.
The platform is designed to offer a user-friendly experience with advanced trading tools, such as optimized order routing, real-time analytics, and frictionless execution.
Freedx was founded by industry veterans from top financial and crypto institutions and has grown to nearly 100 members.
The raised funds will be used to enhance the platform, expand globally, and improve customer support. Freedx is preparing for its Beta launch in Q1 2025, offering users the chance to explore its features and contribute to its development.
Domain Registration Startup D3 Raises $25 mn From Paradigm to Launch Doma Blockchain
D3 Global, a startup focused on using blockchain technology for domain registration and trading, raised $25 million in funding from Paradigm and other investors, including Coinbase Ventures.
The company aims to create a decentralized alternative to the traditional domain market through its blockchain, Doma.
This will allow users to register and trade domains instantly, addressing issues like high broker fees, long delays, and the inability to use crypto for payments.
D3 plans to partner with blockchains like Solana and Avalanche to introduce new domain extensions like .SOL and .AVAX.
The funds will help D3 expand its partnerships and further develop its technology for domain trading.
New Layer 1 Network Developer Pod Raises $10 mn in Seed Funding
Pod, a new project building a Layer 1 network without a consensus mechanism, has raised $10 million in a seed funding round.
A16z Crypto Startup Accelerator (a16z CSX) and 1kx co-led the round, with participation from Flashbots, Blockchain Builders Fund and Protagonist, Pod said Tuesday. Angel investors included Celestia’s Nick White, Babylon’s David Tse, Axelar’s Sergey Gorbunov, Lau Ventures’ Waikit Lau, and VentureFriends’ Apostolos Apostolaki.
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