The future of Bitcoin mining is in the hands of people who can code and create software that works with Bitcoin, the currency that powers the world’s largest economy.
The company behind the new mining technology, HashFast, has just raised a $4.7 million funding round.
It is the latest in a string of venture capital investments that has seen a number of startups leapfrog the mainstream and become the hottest tech in the world.
HashFast has built its mining platform from the ground up and has a number a big names in its ranks.
Among them is David Ebers, who recently took over as CEO of Bitmain, the world leader in mining equipment.
In this video, Ebers talks about the company’s future, its ambitions and what its investors are hoping to achieve.
“We’re seeing a number companies start to be a bit more serious about mining and investing in their own infrastructure,” Ebers says.
At the same time, he points out that it is still not clear how large a role mining will play in the future of the Bitcoin economy.
“It’s not clear that we will see Bitcoin mining dominate or dominate the rest of the economy,” he says.
“There’s a lot of innovation happening right now, and mining is not the only thing that’s going on.”
At HashFast’s conference, which took place at the Australian Institute of Mining in Sydney, it was announced that it had raised $4 million.
According to a statement from the company, the funds will be used to “build and operate a fully-funded and scalable hash farm”.
“This is a big step forward for HashFast in its journey to become a major player in the mining industry,” said the statement.
Bitmain is the world-leading producer of ASIC mining equipment and currently accounts for around two-thirds of the global hash power.
There are now more than 6,000 active Bitcoin mining machines in the network.
Its latest venture, the Bitmain Crypto Power ASIC, can mine a block with a maximum hash rate of 1,000 Bitcoins per second.
Bitcoin mining has grown rapidly in the past year.
Last year, it accounted for about $1.5 billion in revenue and a market capitalisation of $60 billion.
As a result, it has taken on a much bigger role in the Bitcoin ecosystem, attracting a huge amount of interest.
This is because mining has become a key part of the cryptocurrency’s decentralised nature.
So much so that many have called it the new gold rush, with people turning to Bitcoin as a means of diversifying their portfolios and trading assets with minimal friction.
With more people coming to the table and more mining hardware available, Hashfast believes it is in a strong position to be able to compete with other miners.
However, Hashtech has also been at the forefront of a growing number of mining companies.
Earlier this year, the company announced it had received a $1 million investment from investment bank Citi Group.
These investments, which are part of a $50 million investment round announced earlier this year by the UK’s Royal Mint, have made it the first UK mining company to go public in more than 20 years.
Many of the companies that have joined Hashfast in recent months are based in Australia, although Hashfast’s Australian operations are in London and Sydney.
Currently, the Bitcoin mining industry is dominated by two companies.
Bitcoinica is a mining company based in China and Bitmain is based in the US.
While Bitcoinica has become the dominant mining hardware company, HashTech has a strong presence in Australia.
Since its launch in 2013, the Australian mining company has invested more than $5 million in hardware and other infrastructure.
Ebers has a long history of involvement with Bitcoin mining, having founded the company in 2013.
He is now HashTech’s chief technology officer.
After working at Bitmain for two years, Eber left the company and started his own company.
Despite the challenges of building a company from the beginning, he said HashFast was in good hands and that Hashtech would soon be able a “major player in Bitcoin mining”.
HashTech’s CEO, Michael Ebers , says the company was a “great fit” for the new investment round.
“We have a great relationship with the company,” he said.
Mr Ebers said the company would take a strategic approach and focus on growing the business through the next few years.
“The team is a mix of technology and people that understand the fundamentals of the industry,” he added.
I think HashTech is going to do a great job and will be a really big player in this industry for the foreseeable future.
“The funding round, however, comes at a time when HashTech and its competitors are looking to invest more heavily in Bitcoin.
Meanwhile, HashCoins, a new Bitcoin wallet that will allow users to deposit and withdraw Bitcoins, is gaining traction