- Titan’s new funding will allow the company to expand the reach of its bitcoin mining pool by leveraging Digital Finance Group’s network.
- Digital Finance Group has made a $250,000 private equity investment in Titan Mining.
- Titan runs bitcoin mining pools on various continents, whereas DFG invests in bitcoin and cryptocurrency companies.
With DFG’s portfolio of partners, Titan Mining gains a broader reach in the industry. According to a press release, Titan Mining, a next-generation bitcoin mining pool that uses software to bridge efficiency and transparency, has raised $250,000 in a private investment and strategic initiative from global cryptocurrency investment firm Digital Finance Group (DFG).
“The support of Digital Finance Group is extremely important to us because it provides us with a network and deep institutional know-how that will help us build our business, benefiting not only us but the entire industry,” Titan Mining CEO Ryan Condron said in a statement.
Titan Mining benefits from access to DFG’s portfolio of companies because it allows for a growing customer base and a greater potential for growth in developing pipelines in the industry. Titan’s technical and industry know-how, on the other hand, will allow DFG to broaden its reach as it communicates with bitcoin mining investors.
“DFG focuses on working with the most important teams and service providers,” said James Wo, DFG’s founder and CEO, in a statement. “Titan Mining is the ideal partner to work with because it provides such a basic yet critical service to an industry that is heavily reliant on crypto mining.”
Titan Mining’s enterprise-grade mining pool, the first of its kind, enables Bitcoin miners to increase efficiency and scalability at a fixed low cost, while its Lumerin Protocol, which supports a hash-power marketplace powered by smart contract functionality, enables DFG to leverage its extensive portfolio of partnerships to broaden both its technical knowledge and customer base.
Titan Pool, Titan’s North American bitcoin mining pool, was announced in December 2020, with the goal of increasing the region’s share of total Bitcoin hash-rate. Despite the fact that China was once a major player in the industry, bitcoin mining has decentralized over the last year as a result of the Asian country’s outright ban on the activity.
Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.
