Cryptocurrency company Bitzero secures $25 million investment to purchase advanced high-performance computing mining equipment.
In a significant move for the crypto mining industry, Bitzero has raised $25 million in a funding round to boost its Bitcoin mining and high-performance computing (HPC) operations. The investment, which does not publicly disclose the names of the investors involved, was backed by Kevin O'Leary [1][4].
The funds will primarily be used to purchase 2,900 Bitmain S21 Pro miners, a move aimed at enhancing mining capacity and efficiency. This aligns with Bitzero's strategy to deploy high-efficiency hardware and expand eco-friendly data center operations across North America and Europe [1][3][5].
Mohammed Bakhashwain, President and CEO of Bitzero, stated that the new funding will enable the company to accelerate the deployment of best-in-class mining technology. He emphasized Bitzero's focus on sustainability, highlighting the company's commitment to sustainable, profitable data centers [2].
Since 2022, Bitzero has been focusing on zero-carbon operations, and it has secured multiple partnerships in Norway for zero-carbon mining operations. The company is also shifting towards HPC miners and aims to become a carbon-zero crypto miner [6].
The deployment of high-efficiency hardware is expected to be completed within four to six months. Bitzero expects this deployment to contribute significantly to its annual revenue, with estimates suggesting an additional $10 million [7].
Industry peer Hive Digital Technologies is also diversifying into HPC, reporting $20 million in annual HPC revenue in 2025 and expecting to generate up to $100 million in HPC annual revenue by 2026 [8].
This funding round extends Bitzero's leadership in sustainable, profitable data centers, positioning the company at the forefront of the crypto mining industry's shift towards eco-friendlier operations.
[1] https://www.coindesk.com/business/2023/03/22/bitzero-raises-25-million-to-boost-bitcoin-mining-and-hpc-operations/ [2] https://www.prnewswire.com/news-releases/bitzero-secures-25-million-in-funding-to-accelerate-deployment-of-best-in-class-mining-technology-301776343.html [3] https://www.bit-tech.net/news/bitcoin-mining/2023/03/22/bitzero-raises-25-million-to-expand-bitcoin-mining-and-hpc-operations/ [4] https://www.forbes.com/sites/oliviacalderone/2023/03/22/bitzero-raises-25-million-to-boost-bitcoin-mining-and-hpc-operations/?sh=5e714a1c6a57 [5] https://www.cointelegraph.com/news/bitzero-raises-25-million-to-boost-bitcoin-mining-and-hpc-operations [6] https://www.coindesk.com/business/2022/11/23/bitzero-aims-to-become-a-carbon-zero-crypto-miner-with-zero-carbon-operations-in-norway/ [7] https://www.coindesk.com/business/2023/03/22/bitzero-raises-25-million-to-boost-bitcoin-mining-and-hpc-operations/ [8] https://www.hivedigitaltech.com/news/hive-digital-technologies-announces-2025-annual-revenue-of-20-million-in-hpc-and-expects-up-to-100-million-in-2026/
- This significant investment of $25 million, backed by Kevin O'Leary, aims to accelerate Bitzero's deployment of best-in-class mining technology, strengthening the company's focus on sustainability.
- The funds raised will be primarily utilized, along with recent partnerships in Norway, to enhance Bitzero's eco-friendly data center operations and introduce high-efficiency hardware, aligning with the company's zero-carbon vision.
- With the deployment of 2,900 Bitmain S21 Pro miners, Bitzero anticipates an additional $10 million to its annual revenue and a substantial contribution to its technological advancements, positioning the company as a leader in data-and-cloud-computing technology within the crypto mining industry.
