The former South Carolina governor candidate raises $200 million and establishes Bitcoin mining company Gem Mining

The former South Carolina governor candidate raises $200 million and establishes Bitcoin mining company Gem Mining

2021/12/16

According to reports, former U.S. Marine Corps officer and former South Carolina governor candidate John Warren established Gem Mining, a 92% carbon-neutral institutional-level Bitcoin mining company, after raising more than $200 million in institutional capital. . The miner in Greenville, South Carolina, currently has more than 8,000 mining machines in operation, producing five bitcoins a day. The company said that nearly 15,000 mining machines would be used in the next four months. In addition, Gem has more than 32,000 mining machines that are in operation or will be delivered in a short period, and complete deployment does not require additional funds. The company stated that it has mined 431 bitcoins in the past nine months and has been profitable since February. Its revenue in November was 7.8 million U.S. dollars, and its adjusted EBITDA exceeded 6.2 million U.S. dollars.

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