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Bitcoin tech company KnCMiner gets $15 million in Series B round

3 February 2015 15:53
By Jerome Mol

Swedish bitcoin technology company KnCMiner has raised a Series B investment of $15 million. The round was led by Accel Partners and included participation from existing investors such as Creandum, GP Bullhound Sidecar and Martin Wattin.

KnCMiner develops chip design and cloud services for blockchain-based applications and crypto currency mining. It started in 2013 by designing and selling bitcoin mining hardware to third-party miners, but has been mining bitcoins directly on an industrial scale since February 2014.

KnCMiner plans to use the new capital to increase its bitcoin mining capacity and continue developing its bitcoin-processing infrastructure. The company has generated over $100 million in revenue since launch.

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