Coinmine, a U.S.-based crypto mining startup, announced last week it secured $2.5 million through its receive seed funding round, which was led by M13 with participation from Gumi Crypto, Republic Labs, Canaan Labs, and Shervin Pishevar.
The company revealed that its mission is to continue to improve its product to help support the mission of Bitcoin and other decentralized information protocols.
“Bitcoin, and select other protocols are the beginning of a platform shift that will change not only how the internet works, but also finance, governance, business and potentially much more. The computation needs of a digital world will continue to grow, and making it easy to decentralize that computation will help realize the promise of Bitcoin and a world where information and value aren’t controlled by the few.”
Speaking about the investment round, the Coinmine team stated:
“We’re excited to work with the team at M13 not only because of their experience in cloud computing at Digital Ocean, but also because, like all our new and existing investors, they have a daring visions of the future and want to support the teams that are building that future.”
Coinmine noted that the funds will be used to accelerate its mission to make it easy for everyone to earn crypto for powering the crypto revolution. The company added:
“Customers love their Coinmine Ones. And we’re excited to continue expanding the cryptocurrencies available, shipping over-the-air updates with improvements like increased hash power and energy efficiency, and adding new services like earning interest on your crypto.”