Blockmetrix in the News

The stock market had a rough Monday following several weeks of strength. It was a similar story in the bond market. And gold did a U-turn after climbing to a new record above $2,100 an ounce.

Yet in the digital-assets market, Bitcoin held firm following a weekend rally that took the oldest token above $42,000 for the first time in 19 months as frenzied speculation in cryptocurrencies extended its rally to more than 150% this year.

Bitcoin’s “all-time high” is a matter of debate. Depending on where you look, the high water mark will be different. Coinbase calls the top at $68,569 (Nov. 8, 2021 at 7:00 p.m.), CoinMarketCap says it’s $66,953 and your most trusted and trustworthy news and data provider, CoinDesk, notches it a little above $67,000.
I, like many, tend to call the pico top at $69,000 – because it’s okay to round up to the meme number, and because consensus in such a fragmented and illiquid market is really a subjective matter (involving where to draw the line about which exchanges to follow and data sources to watch.)

The boredom ended in October as cryptocurrency prices zoomed higher, with the biggest of them all, bitcoin (BTC), posting the strongest monthly rally since January as investors were abuzz with optimism that bitcoin ETFs will soon get approved in the U.S.
BTC gained more than 27%, springing to a 17-month high of $35,000 after hovering around the $27,000 level during the first half of October. It has recently resided just above $34,000 ahead of the Federal Reserve's interest rate decision on Wednesday, with market participants largely expecting policymakers to leave rates unchanged.

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The long-running fight to launch a US exchange traded fund investing directly in bitcoin has passed another hurdle after the regulator declined to contest a court ruling made against it. The US Securities and Exchange Commission had until Friday to appeal against an August federal appeals court ruling that it had been wrong to reject an application from cryptocurrency house Grayscale Investments to convert its $16.7bn Bitcoin Trust (GBTC), the world largest crypto fund, into an ETF.

LONDON, April 24 (Reuters) - Top cryptocurrency bitcoin could reach $100,000 by the end of 2024, Standard Chartered (STAN.L) said on Monday, saying that the so-called "crypto winter" is over.

Bitcoin could gain from factors including recent turmoil in the banking sector, a stabilisation of risk assets as the U.S. Federal Reserve ends its rate-hiking cycle and improved profitability of crypto mining, Standard Chartered's head of digital assets research Geoff Kendrick said in a note.

Blockmetrix is a crypto-mining company founded last May in Dallas by five North Texas investment leaders and industry experts. Blockmetrix has raised over $50 million in venture funding and $25 million in debt financing, largely to fund additional mining rigs. The team of five has an office in the Rolex building in the Harwood District. The founders said the company is revenue positive and that they are considering the option to take it public

Being in Dallas has been a big selling point for investors because they know that it’s becoming the mining epicenter of the U.S.,” said Nevin Bannister, co-founder and CEO of Dallas crypto mining startup Blockmetrix, which started in July and has already raised $50 million.

“USDC isn’t inherently an investment vehicle,” says Axel Nussbaumer, vice president of digital asset management at Dallas-based crypto mining firm Blockmetrix. “But it does a perfectly fine job of serving its intended purpose—to allow traders to derisk, avoid volatility and transact cheaply and quickly.”

The decision to invest in the nascent crypto sector can be a daunting one. On the one hand, the list of companies accepting payments in cryptocurrencies continues to grow, as does the number of countries that recognize tokens as legal tender. On the other hand, the volatility of cryptocurrencies makes the investment unpredictable and difficult to stomach for some.

Blockmetrix, which focuses on mining bitcoin, raised $20 million in debt financing from BankProv and CrossTower, bringing its total funding to more than $70 million. The company said the money will help it buy more mining equipment and invest in joint ventures.

Dallas-based bitcoin (BTC) mining startup Blockmetrix has raised $20 million in new debt from crypto-friendly commercial bank BankProv and digital asset exchange CrossTower, the company said in an emailed statement to CoinDesk.

Blockmetrix, a Dallas-based Bitcoin mining operation, says it has raised $25 million in debt financing to acquire crypto mining computers.
The funding was provided by BankProv, a crypto-friendly commercial bank, and CrossTower. The money is said to be an upgrade from an initial $5 million financing deal in December 2021, rounding out to a total of $25 million.

Dallas-based bitcoin (BTC) mining startup Blockmetrix has raised $20 million in new debt from crypto-friendly commercial bank BankProv and digital asset exchange CrossTower, the company said in an emailed statement to CoinDesk.

Dallas-based bitcoin (BTC) mining startup Blockmetrix has raised $20 million in new debt from crypto-friendly commercial bank BankProv and digital asset exchange CrossTower, the company said in an emailed statement to CoinDesk.

Blockmetrix, a US-based Bitcoin mining startup that’s experienced massive growth since its launch in 2021, has secured a $25 million debt facility to expand its operations via the purchase of additional mining rigs. The financing includes a fresh $20 million top-up on an initial $5 million deal agreed between the startup and its partners

Bitcoin mining company Blockmetrix announced its partnership with crypto-friendly commercial bank BankProv and crypto exchange CrossTower to supply Blockmetrix with a newly raised USD 20m debt facility to purchase digital asset mining rigs.

Nevin Bannister is the Co-Founder and CEO of Blockmetrix, a fast-growing Dallas-based Bitcoin mining startup. Having founded startups that have sold for over $800 million combined, his ventures chronicle a strong leader excelling in employee development with a consistently innovative approach.

Starting a Bitcoin mining company can be a daunting task. Sourcing hardware, finding cheap and reliable power, and maximizing miner uptime are just some of the issues new startups face. Compass sat down with Blockmetrix co-founder and co-manager David Kiger, a new startup mining company primarily focused on North American mining, to understand the nuances.

Blockmetrix, a startup engaged in Bitcoin mining, and which employs fast and lean crypto mining technology, recently raised $43 million in its Series B funding round amidst the cryptocurrency market mayhem and strategic geopolitical challenges plaguing the industry.

Dallas-based cryptocurrency mining organization – Blockmetrix – disclosed it had raised $43 million in a Series B investment round. Thus, the company’s total venture funding reached $50 million. According to the announcement, the fresh financing included investors from the United States, Australia, and several nations in Asia.