Vbit announced that $1.1 million seed funding round was led by angel fund Golden Age. The company also stated that its 200 MW data center will be one of the largest data centers dedicated solely to Bitcoin mining operations. Vbit will be able to offer better mining efficiency and better ROI due to the size of the data center and access to inexpensive electricity.
Mining efficiency and better ROI
Since its launch in 2018, VBit has helped around 3,000 customers, and its user growth has been exponential. Danh Vo, CEO, and Founder of VBit Technologies said,
“We are thrilled to have the support and capital needed to accelerate our growth further. So far, we’ve been proud of how much our customers gained, and now we’re taking this to the next level. I am not only talking about the quantity of the Bitcoin they mined but the feeling of security, a stable stream of passive income which has tremendous value, especially in times like this.”