[2015-02-03] CD: Bitcoin Mining Firm KnCMiner Raises Further $15 Million

[LiteCoinGuy]

Bitcoin Mining Firm KnCMiner Raises Further $15 Million

Bitcoin mining company KnCMiner has raised $15m in Series B funding.

Led by international venture capital fund Accel Partners, the round also included existing investors of the Stockholm-based mining company GP Bullhound and Creandum, as well as noted Swedish investor Martin Wattin.

http://www.coindesk.com/bitcoin-miner-kncminer-raises-15-million-in-series-b-round/




we are in Feb of 2015 and already near 100 mio in BTC funding 

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[LiteCoinGuy]

http://www.creandum.com/accel-partners-invests-in-kncminer-16nm-tape-out-completed/

http://www.wired.co.uk/news/archive/2015-02/03/bitcoin-kncminer

[cr1776]

Nice to see investments in mining companies continue so we reach current state-of-the-art ASAP.

[Kyt Dotson]

This is pretty good. With more investment going into core proceeds of the Bitcoin industry (from merchant services to mining equipment) it paints a less-dark picture than the mining operations which are shutting down due to a low market value.

[kjlimo]

Hmmm, maybe they can afford to refund me for this worthless hardware they shipped me then

Pretty sure they stopped taking calls because of me...

[bryant.coleman]

I don't know why these people are putting even more money on mining. Already it is a highly over-saturated sector. We need a reduction in hash-power, to make mining profitable, at least for the major players.

[viboracecata]

Happy to see this, this could be indirect invests into the price

[LiteCoinGuy]

I don't know why these people are putting even more money on mining. Already it is a highly over-saturated sector. We need a reduction in hash-power, to make mining profitable, at least for the major players.

the reason is, its damn profitable.

[kjlimo]

I don't know why these people are putting even more money on mining. Already it is a highly over-saturated sector. We need a reduction in hash-power, to make mining profitable, at least for the major players.

the reason is, its damn profitable.

Agreed, perhaps the small players aren't profitable anymore, but I would expect the major players are making money...

[LiteCoinGuy]

I don't know why these people are putting even more money on mining. Already it is a highly over-saturated sector. We need a reduction in hash-power, to make mining profitable, at least for the major players.

the reason is, its damn profitable.

Agreed, perhaps the small players aren't profitable anymore, but I would expect the major players are making money...

some months ago a miner on reddit said, he can even mine profitable with 80 USD per BTC. so do the math  

[unamis76]

I thought they were giving up new chip development and would be focusing on cloud mining services... What happened? Was it because of the capital injection, or they weren't planning on giving up making chips to begin with?