Blockmetrix raises $50M for its fast and lean crypto mining technology
This fundraising round marks a second time for the Dallas-based company’s Bitcoin mining operations to be oversubscribed
DALLAS, March 8, 2022 - Blockmetrix, a fast-growing US Bitcoin mining startup, announces that it has raised a fresh $43M in Series B equity, bringing the total venture funding to $50M. The new round included investors from the US, Australia, and several countries in Asia and was significantly oversubscribed. This funding will be used to expand Blockmetrix’s hyper-growth strategy, primarily through securing digital asset mining rigs.
Since the startup was incorporated in June 2021, Blockmetrix has grown significantly. The $7M Series A funding went directly into deploying over 1000 rigs, while the newly raised $43M Series B funds will allow Blockmetrix to secure an additional 5,000+ rigs over the span of five larger, medium-term orders.
Blockmetrix is receiving significant funding in the midst of Texas’ crypto mining gold rush, as Bitcoin experts have declared Texas to be the next Bitcon mining capital. Local legislation encourages continued investment in digital asset mining operations in the state with the hopes of revitalizing economic growth and bringing jobs to the area.
Blockmetrix has forged relationships with investors based in the US, Australia, and Asian countries, many of which focus on crypto, tech, and mining companies.
“Acquiring this additional funding is a significant milestone and testament to our team’s effort to build this company at breakneck speed,” said Blockmetrix Co-Founder and CEO, Nevin Bannister. “Scaling our company as quickly as possible has been our main prerogative since day one. We are striving to keep up this momentum and meet industry demand as we enter our interim round and eventual third round of funding. We thank all our investors for believing in our mission.”
About Blockmetrix
In 2015, Co-Founder and CEO Nevin Bannister had the foresight to investigate crypto and invest in blockchain technologies, exchanges, and currencies. His enthusiasm for crypto blossomed in 2021, when he and his trusted business colleagues founded Blockmetrix, with a mission to create the fastest growing asset-lite digital asset mining company in the world. The Blockmetrix executive team holds industry professionals that have founded many companies, exiting to the tune of $5B from various sectors including venture capital, legal, energy, logistics, and blockchain. With a seasoned leadership team maintaining strong track records in starting, managing, and scaling companies, and taking them to exit, Blockmetrix poised to be the next leader in the crypto mining industry through its experienced leadership and by developing highly coveted business relationships.
Leadership
Nevin Bannister has founded startups that have sold for over $800 million combined. His ventures chronicle a strong leader excelling in employee development with a consistently innovative approach. In 2015, Nevin had the foresight to begin focusing on crypto and has become an investor in a number of blockchain technologies, exchanges, and currencies.
David is the founder of and a shareholder of Worldwide Express, a $4B US-based shipping and logistics firm (3PL). He's presided over 4 separate private equity transactions for Worldwide and was named in D Magazine's D CEO, DALLAS 500 several times. He is an active investor in and board member of several late-stage, privately held companies.
Keith is the Executive Chairman of Sintana Energy and Director and Chairman of the Board of Discovery Energy. Keith has also co-founded JK Acquisition Corp. and was a founder and chairman of Westside Energy. Prior to his entrepreneurial career, Keith had a successful career as an attorney for Haynes and Boone, LLP and Verner Liipfert Mcpherson & Hand.
Owen gratuated with honors from SMU Law. Prior to his enrollment, he used his leadership skills to help start a number of small businesses and since graduation has focused his career on building legally compliant and streamlined operations. During law school, he developed a strong interest in the evolving legal landscape around blockchain and has sought out opportunities to apply his research.
Axel graduated from SMU with a degree in business and has used his financial expertise to help build numerous companies. In 2016 he became solely focused on crypto technology. His early adoption of crypto has given him the opportunity to take an active part in helping develop the cutting edge of decentralized finance.
