Coinmine raises $2.5M in seed funding for its plug-and-play mining device
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Coinmine, a consumer-facing cryptocurrency mining startup, has raised a fresh new round of funding, according to a statement released on Thursday. The startup has a $2.5M seed round led by M13, with participation from Gumi Crypto, Republic Labs, Canaan Labs, and Shervin Pishevar.
Coinmine previously raised $2M in November 2018. Coinmine is known for its plug-and-play mining device, the Coinmine One, which enables everyday consumers to mine a host of cryptocurrencies including bitcoin, ether, and zcash. According to Coinmine, over 10% of its customers have purchased two or more of these devices.
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Steven Zheng is a researcher for The Block. He joined The Block in August 2018. Steven graduated from St. John’s University with a degree in economics. Previously, he covered blockchain and crypto at Radicle, a startup analytics firm. He also had brief stints at Cheddar, a media startup, and Bowery Capital, a venture capital firm. He owns bitcoin. Follow Steven on Twitter at: @Dogetoshi
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