Bitcoin mining company VBit DC receives $1.1 million in seed round funding to build a Bitcoin mining center

Bitcoin mining company VBit DC announced that it has raised $1.1 million in a seed funding round led by angel investment fund Golden Age.

Source: Pixabay

Announcing the news on Tuesday, VBit said it would use the new funds to build a 200MW (megawatt) bitcoin mining center in Alberta, Canada.

The company said:

“The center’s scale and cheap electricity supply will allow VBit DC to provide customers with higher mining efficiency and greatly improve ROI (return on investment).”

VBit DC is a subsidiary of Philadelphia-based VBit Technologies, which has been offering mining packages to the public since 2018. The company claims to have helped around 3,000 customers earn passive income through mining. VBit says its user base is growing month-over-month in every country.

Danh Vo, founder and CEO of VBit Technologies, said:

“We hope more people will join us because our new data center will make a difference in terms of accessibility and return on investment (ROI) clarity.”

The news comes just days before Bitcoin’s third halving, an event that will reduce block rewards from 12.5 BTC per block to 6.25 BTC. The halving is expected to take place on May 12 (next week).

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