Bitcoin News and Finance Blockcap Mined $33M in BTC in First Quarter, Q1 Bitcoin Revenue Outshines US Competitors Skip to main content

Blockcap Mined $33M in BTC in First Quarter, Q1 Bitcoin Revenue Outshines US Competitors

Blockcap Mined $33M in BTC in First Quarter, Q1 Bitcoin Revenue Outshines US Competitors

The Texas-based Blockcap Incorporated revealed the blockchain and mining firm has mined approximately 544 bitcoins during the first quarter of 2021. Blockcap says the $33 million worth of bitcoin stems from the firm’s fleet of 12,176 mining rigs.

Blockcap Rakes in 544 Bitcoins

During the last three months, bitcoin (BTC) markets have seen phenomenal gains and alongside the price rises bitcoin miners are pulling in profits. This week the Austin-based firm Blockcap revealed its Q1 earnings in terms of bitcoin (BTC) revenue. The company has acquired $33 million or 544 bitcoins during the first quarter. Bitcoin.com News recently reported on Blockcap moving its headquarters to Austin.

At the time, former governor of Texas, Rick Perry welcomed Blockcap for bringing tech innovation to Texas. The company acquired the 544 bitcoins this year by leveraging 12,176 mining rigs and Blockcap hopes to deploy more machines. Blockcap says by next year it hopes to get 43,000 bitcoin mining rigs fully deployed. Since the company started last year, it has mined a total of 1,600 BTC or $98 million using today’s exchange rates.

“Blockcap has an aggressive growth strategy that is designed to create more jobs in the blockchain industry not just in the United States but also in our home state of Texas and our hometown of Austin,” Darin Feinstein Blockcap’s founder said. “We’re proud to be competing in this industry with a number of other high-quality firms, and we believe there is ample room for all of us to expand together and in turn provide broader, sustained economic growth at the local, state, and national levels.”

Committed to Making the US a Bitcoin-Mining Hub and Outperforming American-based Competitors

Feinstein explained that the firm is committed to making the U.S. a “blockchain and bitcoin-mining technology” hub. The Blockcap founder also claims it outperformed “several major North American-based companies” mining bitcoins.

“This includes Riot Blockchain, a publicly-traded company that mined 491 Bitcoin during the first quarter of the year, as well as 165 bitcoin mined in Q3 of last year by Hive Blockchain,” Feinstein detailed.

The Blockcap founder further noted that blockchain technology and cryptocurrency solutions not only create employment opportunities in the U.S. but this tech also helps the unbanked across every border.

“Currently there are roughly 60 million Americans who don’t have access to bank accounts and roughly 1.7 billion people globally who are also unbanked,” Feinstein remarked. “And we at Blockap strongly believe that the blockchain industry as a whole will provide these unbanked people with the critical technology necessary for accessing the financial system.”

What do you think about Blockcap’s first-quarter bitcoin revenue? Let us know what you think about this subject in the comments section below.

Comments

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl...

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju...

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and...

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r...
Blogarama - Blog Directory