Swan Bitcoin, a US-based Bitcoin investment platform, has announced the expansion of its operations with the launch of Swan Mining, the company’s mining arm. The mining business, which began its operations in the summer of 2023, has disclosed that it has successfully mined over 750 BTC. Currently, Swan Mining contributes 4.5 exahash to the Bitcoin network and anticipates boosting its mining capability to over 8 exahash by March 2024.

The company revealed its mining arm’s existence in a recent press release, unveiling its achievements and future goals. Swan founder and CEO Cory Klippsten expressed enthusiasm about Swan Mining and emphasized that by exclusively focusing on Bitcoin adoption and industry growth, the company continues to attract talent, opportunities, and capital to diversify its business lines.

In addition to its mining activities, Swan Bitcoin has seen substantial growth over the past year, surpassing $125 million in revenue. The company is now considering a Series C financing, with the raised capital intended to support its financial services, mining, and acquisitions divisions. Moreover, there are plans for Swan to pursue a public listing in the United States within the next 12 months.

FAQs

What is Swan Bitcoin’s mining arm called?

Swan Bitcoin’s mining arm is called Swan Mining.

When did Swan Mining start its operations?

Swan Mining started its operations in the summer of 2023.

How much BTC has Swan Mining mined so far?

Swan Mining has mined over 750 BTC.

What is Swan Mining’s current contribution to the Bitcoin network?

Swan Mining currently contributes 4.5 exahash to the Bitcoin network.

What are Swan Bitcoin’s future plans?

Swan Bitcoin is considering a Series C financing and is aiming for a public listing in the US within the next 12 months.