Blockcap, a Texas-based cryptocurrency mining firm, revealed in an earnings report that it has mined 544 Bitcoin in Q1.
The company is one of the blockchain technology and bitcoin mining companies based in the United States.
It plans on having an additional 32,000 mining machines going online over the next year. Blockcap is seeing rapid growth along with its increasing capacity surpassing that of its North American competitors.
Blockcap Expands Mining Capacity
Since its inception, Blockcap has mined over 1,600 bitcoin. The company mines six bitcoins per day. It has approximately 2,176 fully deployed operational machines and around 43,000 mining machines to be fully deployed and operating by next year.
The company is committed to ensuring the United States is at the forefront of blockchain and bitcoin-mining technology. Executive chairman and founder, Darin Feinstein, stated,
"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. 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."
Blockcap Amps Up Advisory Board
Blockcap is focusing on expanding its core advisory team, with Jarvis Hollingsworth joining its advisory board. Hollingsworth is a prominent attorney and will bring his legal expertise to the company. He currently serves as Chairman of the Board of Trustees of the Teacher Retirement System of Texas, a $150 billion-plus pension trust fund based in Austin.
Other notable additions to Blockcap's team include Saifedean Ammous, assistant professor of Economics at the Lebanese American University, with a Ph.D. in Sustainable Development from Columbia University. He is known for authoring the book The Bitcoin Standard, a ground-breaking study of the economics of bitcoin.
Feinstein Thrilled With Prospects Blockchain Brings
Feinstein is excited about the prospects blockchain technology can bring to the United States with the job prospects it can bring to its people. He also believes that blockchain has immense positive potential for Americans and people worldwide. He says,
"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. And we at Blockcap strongly believe that the blockchain industry as a whole will provide these unbanked people with the critical technology necessary for accessing the financial system."Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.