Swan Bitcoin ventures into BTC mining

Swan Bitcoin has officially launched its branch dedicated to bitcoin mining. The company, which has its sights set on a IPOintends to increase its hashrate from 4.5 to 8 EH/s over the next few months.

Swan Bitcoin unveiled its crypto-mining operations last night on X. The American Bitcoin specialist has been mining digital coins since the summer of 2023 and has today mined over 750 BTC.

The hashrate of its infrastructure has reached 4.5 EH/s and is expected to exceed 8 EH/s by March 2024.

Swan Mining has developed and deployed at lightning speed. We believe this is the fastest initial hashrate deployment at this scale in the history of Bitcoin,” proclaimed Rapha Zagury, head of Swan Mining.

According to thethe financial services firm discreetly set up its new mining unit in order to avoid disrupting the ASIC market.

Swan Bitcoin, which raised $40 million and set out to conquer institutional investors last December, is now planning a Series C financing round and, over the next 12 months, an IPO.

Keep up to date with crypto news on our Twitter or Telegram