East African hydroelectric bitcoin miner Gridless raises $2 million of seed funding in a round co-led by Jack Dorsey co-founded, payments company Block and venture capital firm Stillmark. gridless africa kenya block jackdorsey
The investment will support the company’s expansion of bitcoin mines across African markets. In its first year, Gridless has contracted five project pilots in rural Kenya with African hydroelectric energy company, three of which are operational. The company plans to expand to other East African regions in the near future.
Gridless brings “a socially and environmentally conscious approach to bitcoin mining, one that provides tangible benefits by way of access to electricity for communities in rural parts of East Africa,” says Alyse Killeen, Managing Partner at Stillmark, a venture capital firm.
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