The US-based investment platform, Swan Bitcoin, has recently announced the launch of its mining arm, Swan Mining, which had been operating in stealth mode since July 2023. The mining arm has already mined over 750 BTC and currently has a contribution of 4.5 exahash to the Bitcoin network. Swan Mining is expected to reach a capacity of 8 exahashes by March 2024.
According to Swan’s Founder and CEO, Cory Klippsten, the launch of Swan Mining is a testament to the company’s focus on Bitcoin adoption and growth. The mining arm operates using a debt-free funding model and has legally separated its entities from other businesses within Swan Bitcoin.
As Swan Bitcoin continues to see rapid expansion, with revenue surpassing $125 million, the company is eyeing a Series C financing split between its financial services, mining, and acquisitions divisions. Additionally, there are plans for a US public listing within the next 12 months.
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