Home News Griid has attracted a loan of $525M from Blockchain.com

Griid has attracted a loan of $525M from Blockchain.com


Griid Bitcoin (BTC) mining company from Cincinnati, Ohio, has opened a credit line with an exchange and a provider of digital wallets Blockchain.com in the amount of $525 million for the expansion of cryptocurrency mining operations.

The term of the agreement was four years. Currently, Griid has an unused capacity of 1300 MW.

Trey Kelly, the CEO and founder of Griid, said that Blockchain.com became an ideal partner in this initiative. According to the press release, since 2017, the volume of loans issued by the platform has reached $5 billion.

Celsius Network investment in Bitcoin mining

Celsius Network

Earlier in November, the Celsius Network cryptocurrency lending service announced an investment of $300 million in Bitcoin mining. Earlier, the firm allocated $200 million for these purposes.

Alex Mashinsky, CEO of Celsius, said that they are planning to constantly increase the hashrate until the end of next year. According to him, the growth rate of the company’s computing capacity will slow down in the coming months.

In addition to buying equipment for mining cryptocurrencies, Celsius Network invests in the American blockchain hosting provider Core Scientific; the mining company Rhodium Enterprises from Texas; and the Luxor Technologies pool.

Margin trading from Blockchain.com

Recall that previously in October, Blockchain.com announced the release of margin trading services. Since opening its exchange service in 2019, Blockchain.com has received numerous requests for Bitcoin margin trading, according to a blog post published on Tuesday.

Thus, the release announced also that the platform will begin margin trading with up to 5x leverage. For the Bitcoin-US dollar (BTC/USD) pair.

Users in roughly 150 countries will be allowed to use the exchange’s Bitcoin margin trading service. With notable outliers such as Italy, France, Canada, and the United States. Japan, Germany, Austria, the United Kingdom, and the Netherlands are among the countries that are excluded.

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