Gridless, a bitcoin mining company that helps generate new sources of energy in rural communities in East Africa, said that it secured 2 million in a seed investment round led by bitcoin venture-capital firm Stillmark and payments company Block. Stoccoin Gridless BTC Miner
The investment will support the company’s expansion of bitcoin mines across African markets. In its first year, Gridless started five projects in rural Kenya with African hydroelectric energy company HydroBox, three of which are operational.
The company plans to expand to other East African regions in the near future.
Gridless designs, builds and operates bitcoin mining sites alongside small-scale renewable energy producers in rural Africa where excess energy is unused.
Gridless serves as the anchor tenant, financing the construction and managing the operation of data centers in rural communities where traditional industrial or commercial customers are unavailable.This post is based on this twitter thread.