Titan Closes $ 6 Million Private Sale for Lumerin Protocol from Cadenza Ventures, Fundamental Labs, Outlier Ventures and Others | Your money
CHICAGO – (BUSINESS WIRE) – November 24, 2021–
Titan, an innovator in the bitcoin mining ecosystem, today announced the successful completion of its $ 6 million private sales round for the Lumerin protocol. Strategic partners include: Cadenza Ventures, Fundamental Labs, Outlier Ventures, Tribe Capital, Digital Finance Group, Caballeros Capital and 11-11 DG Partners.
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The Lumerin protocol allows Bitcoin’s hashrate to be a liquid, tradable financial asset, unlocking mining profitability and providing better access to capital and investments.
Currently, mining pools are powered by cheap electricity, favorable regulations, taxes and mature infrastructure. The Lumerin protocol supports the mining ecosystem by becoming more decentralized, and therefore more secure. Private sale purchases allow cryptocurrency miners to participate in global hashpower trading using simple, smart contracts on a trusted, decentralized, peer-to-peer platform, effectively a DEX / DeFi for Bitcoin and POW crypto-hashpower.
In choosing Titan, the priority of these key strategic partners was to focus and support not only the overall market potential, but also an experienced team with a unique and solid history of cryptocurrency innovation and development. ‘mining :
- Ryan Condron (co-founder and CEO) created the first customizable profit-switching mining pools, PoolWarz.
- Jeff Garzik (co-founder and advisor) created the first Bitcoin mining pool and has extensive early expertise in Bitcoin.
- Jethro Grassie (technical advisor) has developed a highly efficient mining pool used by large private mining companies.
âTitan is proud to have such a vote of confidence from these leaders in the mining community. As a result, we can now move forward with our vision of creating a global hash power market for pools. Bitcoin and POW mining. This will help relieve current market pressures and allow anyone to truly harness the power of crypto, “said Ryan Condron, CEO of Titan.
âWe have seen over the years that there has been a constant demand for the purchase of hashrate products, even though the calculation of profitability was unreasonable. Because there is this customer base willing to pay more for it. Convenience of purchasing hashrate without hassle, this provides a means of greater potential profitability for miners.
âCompanies or individuals with a lower risk profile will be able to buy / sell computing power, providing additional capital to the entire mining industry. the mining ecosystem can achieve higher growth in income and capital than ever before. “
Titan provides powerful software and services for large-scale cryptocurrency mining and now offers the first enterprise-level mining pool in North America. The Lumerin protocol is a peer-to-peer platform that enables the routing of data flows based on smart contract rules. Using the Lumerin protocol, any asset delivered over a TCP / IP connection can be combined with real-time oracles to help the asset creator maximize buyer’s access across any number of delivery channels. multiple. The Lumerin protocol will make the Bitcoin / POW hashrate into a liquid and tradable financial asset, unlocking mining profitability and providing better access to capital. Titan was founded in September 2018 by Ryan Condron, Jeff Garzik and Matthew Roszak. For more information, please visit Titan.io or follow the company on Twitter.
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CONTACT: Lewis Farrell
KEYWORD: ILLINOIS UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: SOFTWARE TECHNOLOGY PROFESSIONAL SERVICES FINANCE
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PUB: 11/24/2021 12: 00 / DISC: 11/24/2021 12:02
Copyright Business Wire 2021.