CoinMine Secures $2.5 Million In Funding to Foster Crypto Mining Product Line


The crypto mining company CoinMine, which is focused on manufacturing crypto hardware and software, has recently announced that it was able to get $2.5 million USD its latest seed investment round. The seed round was led by M13 Ventures, Gumi Crypto, Shervin Pishevar

A representative of the company affirmed that the investment round was so successful because Coinmine One is growing 50% every month since April.

The company is always looking for the best ways of reinvesting in its miners and using the money to create a more successful business instead of pocketing it. At the moment, the company affirmed that its products are 30% more efficient with the latest upgrades.

Now, the money will be mainly used in order to hire more engineers to work with the company. They will help Coinmine One to create more interesting products and to expand its services to hobbyist-level miners, too, another segment of the market that CoinMine wants to reach.

CoinMine’s CEO Farbood Nivi affirmed that it is important to call more people to the market. Because of this, the idea is to lead these amateurs into the mining business and let them get interested and see how profitable it can be. This way, they will have more clients in the future.

At the moment, the products sold by the company can be used to mine several cryptos such as Bitcoin, Monero (XMR), Ethereum (ETH) and Zcash (ZEC).

M13 Ventures, one of the investors, affirmed that the company is focused on finding the best investments and that the product offered by CoinMine is innovative because it helps the consumers to participate in a new and exciting market.

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