Jack Dorsey's Block Leads $2M Fund for African Bitcoin Mining Company
On one hand, companies are bearing the brunt of the after-effects of FTX’s collapse. To stay afloat, a host of measures like laying off staff to cut down costs are in play. On the other, companies with a steady foot, like Goldman Sachs, are looking to pour in money into the space. The choppy macro state of affairs has not stopped companies from branching out and expanding. On Tuesday, Africa n Bitcoin Mining Company Gridless announced that it secured $2 million from a seed investment funding round. The same was led by Stillmark and Block, Inc. This comes in addition to an angel round led by Factor[e]. The investment will be used to support the company’s plans for expansion of Bitcoin mines across Africa n markets. Commenting on the latest development, Erik Hersman, CEO of Gridless, said, “Africa needs affordable electricity. Our work in supporting renewable energy mini grid developers fills a gap, helping developers expand faster, be mor...