A Mining Firm Based in U.S. Acquires Investment from Coinbase
According to recent reports, Coinbase Ventures has made an investment in Titan. Coinbase Ventures is an investment arm of one of the most popular and major cryptocurrency exchange. On the other hand, Titan is a software developing company that is known for introducing innovative software for Bitcoin mining.
Although Coinbase has confirmed that they have made the investment but it has not been revealed exactly how much the company has invested in Titan.
Following the announcement, Titan officials have also made the announcement from their end acknowledge the deal. Titan officials have thanked Coinbase Ventures for their investment and have stated that the investment amount will go a long way.
The Titan officials have stated that the investment will help the firm achieve new goals and milestones. They will be able to invest more resources in the product development sector and will also help the firm enhance the performance of its operational products. The company will also invest in achieving better results that will help the companies mine Bitcoin (BTC) efficiently.
The Co-founder and CEO of Titan, Ryan Condron also talked about crypto-mining and how it has evolved over the course of time. Condron stated that crypto-mining is no longer the same as it used to be in the past. Ever since the launch of the cryptocurrency industry, crypto-mining has been constantly evolving.
At the start of the cryptocurrency industry, mining was only limited to being a hobby. Since the start, mining has gained a lot of adoption as it advanced from being a hobby to the industry level. After the industry level, it achieved critical global computing infrastructure.
After gaining so much success and advancements, Titan is now getting ready to provide world-class miners with products and applications they can use to face many complex challenges while mining.
Titan is known for providing professional miners with software and advanced tools that are present to optimize crypto-mining. The firm also claims that its mining dashboard and network of nodes allows miners to compete with global challenges head-on and with confidence.
In the past, Titan had collaborated with CoreScientific and CoinMint to launch the Titan Pool. Both CoreScientific and CoinMint firms are known for providing mining infrastructures to the users. Among the rest of the pools, Titan claims to be providing better transparency than the rest.
Furthermore, the firm also claims that using its pool can also facilitate the users in clearing out the jurisdictional issues that can be found between the miners and regulators.
At present, China is the country known for mining most of the Bitcoin (BTC) that is available for mining. At present, China is responsible for around 35% of the overall mining that is carried out around the world.
Titan states that with this new pool, the U.S. miners will have a chance of increasing the hash rate that may allow them to compete with Chinese miners in near future.