Winklevoss brothers invested in a startup that uses natural gas for mining cryptocurrencies

Winklevoss brothers invested in a startup that uses natural gas for mining cryptocurrencies

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Startup Crusoe Energy Systems Inc. raised $ 4.5 million in seed-round financing, led by Bain Capital Ventures and Pathfinder’s Founders Fund Peter Til. Winklevoss Capital Management and Dragonfly Capital Partners are also among the participants in the round.

@CrusoeEnergy announces $ 4.5m funding round co-led by @BainCapVC and @FoundersFund and investments from @winklevosscap and @DCPCapital. Crusoe Energy is developing mobile modular data centers for the extraction of cryptocurrencies that will run on electricity from the so-called gas torch. This at the same time will allow oil companies to abandon the existing practice of burning gas surplus, reduce the emission of harmful substances into the atmosphere and free up additional energy for mining.

Thus, as conceived by the creators of the startup, the data centers will be located near the fields, and the gas surplus will be transformed into electricity for their operation. “Crusoe uses energy, which could be simply lost, in innovative industries that require intensive computer computing, such as the blockchain and artificial intelligence,” said startup CEO Chase Lockmiller, a former cryptocurrency portfolio hedge fund Polychain Capital.

Earlier, Winklevoss Capital, along with Coinbase Ventures and Digital Currency Group Barry Silbert, invested $ 4.5 million in a Staked startup focused on building and maintaining infrastructure that will allow institutional investors to earn on PoS cryptocurrencies.

Back in 2017, the Winklevoss brothers also took part in a $ 50 million tokensale from Blockstack blockchain-startup along with Digital Currency Group and Techcrunch founder Michael Arrington.

Winklevoss brothers invested in a startup that uses natural gas for mining cryptocurrencies

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