Crypto Mining Veterans Announce Formation of Blockcap

Blockcap, a new cryptocurrency mining firm recently announced that it is creating the largest crypto mining operator in North America. Blockcap was formed by veterans of major crypto mining infrastructure firms, including one of the largest U.S. blockchain infrastructure companies. According to the company, "Blockcap combines the assets of five pre-existing Bitcoin mining companies, taking advantage of economies of scale in purchasing equipment and managing energy risk in order to ultimately provide higher returns for its investors. Blockcap operates what is among the largest collections of hashing power in North America, including highly-valued public companies."

“From the team we have put together, to our state of the art ASICs, and our top notch infrastructure partners, we are proud about what we have achieved with Blockcap,” said Peter Novak, President of Blockcap. “Moreover, we have the resources and relationships necessary to continue to scale Blockcap’s mining operations in a financially efficient manner to take advantage of the rapidly expanding market for digital currency.”

In the third quarter of 2020, Blockcap mined 425 Bitcoin, while its rival, publicly-traded mining company Riot Blockchain (NASDAQ: RIOT), reported that it had mined only 222 Bitcoin during the same period. And, according to Blockcap, its recent earnings also exceeds that of other competitors, including Hive Blockchain, Hut 8 Mining and The Marathon Patent Group. During the coming months, Blockcap says it is looking to further expand its operations by adding more servers and acquiring other existing mining companies. According to Finance Magnates, the board of directors of Blockcap includes Larry Rudolph whose entertainment law firm boasts a number of high-profile clients, including Britney Spears, Taylor Swift, Lady Gaga and Justin Timberlake.

The above references an opinion and is for information purposes only. It is not intended to serve as investment or legal advice.