Texas-based blockchain technology company is poised for more growth as it also continues to expand into other digital assets
Blockcap Inc. (“Blockcap”), one of the largest blockchain technology companies in the United States, announced today it has acquired an additional 8,000 latest-generation miners that will bring its total number of deployed and fully operational bitcoin mining machines to more than 50,000 by the end of next year. Underscoring the company’s aggressive growth posture, the move also coincides with an announcement it is accelerating its mining of additional digital assets, including the world’s second-largest digital currency by market capitalization, Ethereum.
The acquisition of the new miners is the latest in a string of large-scale purchases made by the Austin-based company. As part of its strategy of becoming a key global player in digital asset technology, moreover, Blockcap also is announcing purchases of machinery for altcoins. The company has made a large-scale purchase of Ethereum mining rigs, to be delivered in the fall of 2021. When fully operational, those miners will account for 1.229 terahashes, or an estimated 0.21 percent of the entire Ethereum Network.
Blockcap’s executive chairman and founder, Darin Feinstein, cited the company’s strategy to continue expanding into other digital assets as key to the firm’s mission of making the United States a global leader in shepherding blockchain technology into the mainstream.
“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,” Feinstein said. “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. Currently, there are over 1.7 billion people around the world with no access to banking, and the rise of these digital asset networks will make financial products more inclusive and available to every individual.”
Blockcap currently fields a fleet of approximately 12,176 fully operational machines. Since its founding last year, the company has mined more than 1,700 bitcoin. In the first quarter of this year alone, Blockcap mined 544 bitcoin.
About Blockcap
Blockcap, Inc. (the “Company” or “Blockcap”) headquartered in Austin, Texas, was founded by blockchain industry veterans that have been in the space for nearly a decade. The Blockcap mining division operates one of the world’s largest bitcoin mining operations, accounting for 0.7 percent of all the Bitcoin network transactions. In addition to mining operations, the company operates two other divisions – digital treasury assets and venture investments. Blockcap’s mining fleet currently utilizes Core Scientific’s best-in-class co-location mining facilities based in the United States.
