On Monday, the mining firm Griid Infrastructure announced the company has secured a $525 million credit facility from the crypto firm Blockchain.com. According to the announcement, the credit facility will be a four-year term in order to increase the company’s mining capacity.

Bitcoin Mining Infrastructure Firm to Increase Capacity With Help From Blockchain.com

Cryptocurrency mining, and more specifically bitcoin (BTC) mining, has seen millions of dollars invested during the course of the year. Enterprise operations have inked massive deals with bitcoin mining rig manufacturers like Canaan, Bitmain, and Microbt for thousands of ASIC devices. A few large bitcoin mining operators have also begun constructing new facilities in order to increase capacity.

On November 22, Griid Infrastructure announced the company has secured a $525 million credit facility from the company Blockchain.com. The financing will be used to increase mining capacity as well as “capitalizing on over 1,300 megawatts of available power from existing…

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Source: https://news.bitcoin.com/bitcoin-mining-company-griid-secures-525-million-credit-facility-from-blockchain-com/