Bitcoin mining liquidity DeFi protocol Block Green completes $3.7 million financing, led by a fund under Peter Thiel

2022-09-22 21:26:46

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According to Chain Catcher news and reported by The Block, Bitcoin mining liquidity DeFi protocol Block Green has completed a $3.7 million seed round financing, led by Peter Thiel's Founders Fund, with participation from Coinbase Ventures, Blizzard, and Dao5. The company will use the funds to further develop the protocol and build its team, and is currently hiring Patrick Guerriero, the current Chief Financial Officer of miners at cryptocurrency lender BlockFi.

It is reported that Block Green was co-founded by Sebastien Hess and former Mastercard executive Bastian Becker in December last year, initially built on Bitcoin Core, with plans to later transition to other chains. Block Green allows Bitcoin miners to take out loans using hash power as collateral, while Bitcoin holders can lend their assets and earn returns from the Bitcoin produced by these miners. (Source link)

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