Blockfills Announces Over $50M in Financing Deployed to Miners, Launches North American Mining Pool, Says Hashrate Derivatives Are Next
Blockfills, a global leader in liquidity, technology and financial services for digital assets, announces a major milestone in its leading financial services product. Blockfills announced in May that it would offer financial solutions to mining companies looking to purchase new generation ASIC mining equipment to restructure or expand their operations in North America. Since the first use of funding in August, Blockfills has pledged $ 50 million in funding to these North American miners.
“Financial support is a key function of any growing asset class,” said Neil Van Huis, partner and director. “Our goal is to continue bringing traditional practices into our rapidly growing sector, filling in the gaps and widening the space. $ 50 million is really just the beginning. We have an additional $ 50-70 million ahead of us over the next few months and expect we can finish up to $ 250 million by May 2021. “
Blockfills didn’t stop there. Because these miners are funded, they make up a significant part of all North American mining. Blockfills has created a mining pool that can rival some of the titans in the industry. Since many Blockfills customers are looking for a “full service” solution, the mining pool already exceeds 1.3 Exahash and is therefore one of the top 10 worldwide.
“The introduction of our mining pool is an example of our commitment to providing full service solutions for professionals and institutions in the field,” said Gordon Wallace, co-founder of Blockfills. “Customers can get technology, access, execution, research and financial support under one roof.” Wallace, an expert in customer-centric financial solutions, has a distinguished career in the global banking and hedge fund industry. He has held senior positions as Global Head of FX Trading at Deutsche Bank and Credit Suisse, and has also served the private sector that operates FX & Macro Product and Risk in institutions such as Citadel and Infinium Capital Management.
Last but not least, Blockfills plans the next step after gaining a foothold in the first two shifts on the production side of digital assets. Her team, who have extensive experience in traditional asset classes and derivatives, plans to expand their options portfolio and bring hashrate products to market. “We have always listened to the hashrate derivatives arena and believe that our recent business developments have brought us to the doorstep of these interesting and sought-after instruments,” said CEO Nick Hammer. “Several legitimate institutions have shown an interest in both our traditional financial services solutions and hashrate products. We believe now is the time to start building purpose-built products as many more well-capitalized and established players are entering the room. “
For more information, please contact Blockfills at [email protected] or visit the website at www.Blockfills.com
Selected image via Pixabay.