PayPal co-founder Peter Thiel invests in renewable energy powered Bitcoin mining facility

posted 9 months ago
PayPal co-founder Peter Thiel recently made an investment into a renewable energy centered Bitcoin mining facility called Layer 1, which is based in San Fransico. The firm raised $50 million from Peter Thiel, Shasta Ventures, venture capital company Digital Currency Group and other undisclosed investors.

Layer 1 is aiming to make the United States a Bitcoin mining hub. Alexander Liegl, cofounder and chief executive of Layer 1 said “The future of bitcoin mining lies in the heart of the United States: Texas, this is where world-class electricity prices, friendly regulation, and an abundance of renewable energy sources meet. It is here that we are rapidly scaling our mining operations to bring as much hash rate as possible back to the United States.”
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