🚨 Get Your Free NFT Certificate Mint by Completing the Web3 Exam! START NOW
My Learnlist: Coming Soon!
My Learnlist: Coming Soon!

Learn by real-life examples: Select, Track & Understand any cryptos with the unique Learnlist feature!

Notify Me!
Portfolio: Coming Soon!
Portfolio: Coming Soon!

Set your wallet & get powerful insights backed by data. Easily learn how to use it for your highest rewards!

Notify Me!

Australian-Based Arkon Energy Secures $28M Funding to Boost Bitcoin Mining

Australian-Based Arkon Energy Secures $28M Funding to Boost Bitcoin Mining

Arkon Energy received funding from Blue Sky Capital, Kestrel 0x1, Shima Capital, and Barkers Point Capital Advisors.

Arkon Energy, an Australian-based startup that uses renewable electricity to mine Bitcoin (BTC), has raised $28 million to expand its mining capabilities.

According to the news report written by NewsDirect, the funding round was led by a quantitative alternative investment manager, Blue Sky Capital, and firms like Kestrel 0x1, Shima Capital, and Barkers Point Capital Advisors.

What is Web3? (Animated Explanation + Examples)

Did you know?

Want to get smarter & wealthier with crypto?

Subscribe - We publish new crypto explainer videos every week!

What is Web3? (Animated Explanation + Examples)

What is Web3? (Animated Explanation + Examples) What is Web3? (Animated Explanation + Examples)

When talking about a successful funding round, Barkers Point Capital Advisors Managing Partner, Barry Kupferberg, highlighted:

In a period in which the largest Bitcoin miners in the world are struggling with high costs and over-leveraged balance sheets, the ability of Arkon Energy to attract capital highlights its unique value proposition.

Nevertheless, Arkon Energy CEO Josh Payne believes that multimillion funding can “offer a compelling opportunity” for the company to grow. CEO claims that Arkon Energy is looking “forward to executing several additional growth opportunities in the near future.”

It seems that the company has already started expanding. Arkon Energy recently acquired a renewable energy data center Hydrokraft AS, in Norway. The data center uses hydroelectric power and holds an operating capacity of 30 megawatts (MW) with the ability to expand it to 60 MW.

The Hydrokraft purchase is part of an ambitious plan to create a vertically integrated green bitcoin mining platform that has power sovereignty, benefits from geographic diversification, and a robust balance sheet.

At the beginning of the year, Arkon Energy raised $2.6 million in pre-seed funding. In February, the funding round was led by blockchain specialist investment firm Kestrel 0x1, Linked Group Services, and other angel investors.

At the time of writing, Bitcoin (BTC) retails for $16,739.64, recording a price surge of 1.31% in the last 24 hours.

Gile K., Market Sentiment Analyst
Gile is a Market Sentiment Analyst who understands what public events may form what emotions. Her experience researching Web3 news and public market messages – including cryptocurrency news reports, PRs, and social network streams – is critical to her role in helping lead the Crypto News Editorial Team.
As an intelligent professional in public relations, together with the team, she aims to determine real VS fake news patterns, and bring her findings to anyone searching for unbiased news and events happening in the FinTech markets. Her expertise is uncovering the latest trustworthy & informative Web3 announcements to the masses.
When she's not researching the trustworthiness of mainstream stories, she spends time enjoying her terrace view and taking meticulous care of her outdoor environment.



Earn Huge Exclusive Binance Learners Rewards