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Darin Feinstein, the company’s executive chair and founder, stated that the company intends to make the United States a world pioneer in mainstreaming blockchain technology.
One of the largest crypto mining companies in North America announced the acquisition of an additional 8,000 rigs and the start of mining other cryptocurrencies.
Blockcap announced on Monday that it expected to have more than 50,000 mining rigs operational by the end of 2022. Blockcap now controls over 12,000 mining rigs, which generate more than 6.6 Bitcoin (BTC) per day — approximately $380,000 at the time of publication. The company also stated that it was speeding up its efforts to mine other cryptocurrencies such as Ether (ETH).
The inclusion of the ETH mining rigs in service will account for 1.229 terahashes per second, or about 0.21 percent of the Ethereum network, according to the company. When fully operating, the more than 50,000 Bitcoin miners are expected to dominate approximately 2% of BTC’s current collective hash rate.
“Blockcap’s growth strategy is focused on bringing various peer-to-peer digital assets directly to the people who will utilize them to improve their lives,” said Blockcap executive chair and founder Darin Feinstein. “We strive to contribute to the critical infrastructure necessary for mass adoption of these digital asset technologies so people can participate more fully in the global financial system.”
Blockcap and Riot Blockchain, two of the largest crypto mining operations in the United States, have announced plans to establish corporate offices and mining facilities in Texas, respectively. Off The Chain Capital and Foundry Digital led two fundraising rounds that totalled more than $75 million for Blockcap.