Texas-based Blockcap Incorporated revealed that the blockchain and mining company mined approximately 544 bitcoins in the first quarter of 2021. Blockcap says the $ 33 million worth of bitcoin comes from the company’s fleet of 12,176 mining rigs.
Blockcap brings in 544 Bitcoins
Over the past three months, bitcoin (BTC) markets have seen phenomenal gains and in addition to the price hikes, bitcoin miners are pulling profits. This week the Austin-based company Block cap revealed its Q1 earnings in terms of bitcoin (BTC) earnings. The company acquired $ 33 million or 544 bitcoins in the first quarter. Bitcoin.com News recently reported at Blockcap, its headquarters moves to Austin.
At the time, Rick Perry, former Texas governor, welcomed Blockcap for bringing technical innovation to Texas. The company acquired 544 bitcoins this year using 12,176 mining rigs, and Blockcap hopes to deploy more machines. Blockcap says it hopes to be able to fully deploy 43,000 bitcoin mining rigs next year. Since the company started last year, it has gained a total of 1,600 BTC or $ 98 million based on current exchange rates.
“Blockcap has an aggressive growth strategy designed to create more jobs in the blockchain industry not only in the United States, but also in our home state of Texas and our hometown of Austin,” said Blockcap founder Darin Feinstein. “We are proud to compete in this industry with a number of other high-quality companies, and we believe there is plenty of room for all of us to expand together and in turn deliver broader, sustainable economic growth locally. , national and regional level. and at the national level. “
Determined Making the US a Bitcoin Mining Hub and outperforming American-based competitors
Feinstein explained that the company is committed to making the US a “blockchain and bitcoin mining technology” hub. Blockcap’s founder also claims that it outperformed “several major North American companies” that mine bitcoins.
This includes Riot Blockchain, a publicly traded company that has done mining 491 Bitcoin during the first quarter of the year, like 165 bitcoin mined in Q3 from last year through Hive Blockchain, ”explained Feinstein.
The founder of Blockcap further noted that blockchain technology and cryptocurrency solutions not only create employment in the US, but that this technology also helps people without a bank account across every border.
“Currently, there are about 60 million Americans who do not have access to bank accounts and about 1.7 billion people worldwide who also do not have a bank account,” Feinstein noted. “And we at Blockap strongly believe that the blockchain industry as a whole will provide these bank-less people with the critical technology needed to access the financial system.”
What do you think of Blockcap’s first quarter bitcoin earnings? Let us know what you think about this topic in the comments section below.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or invitation to an offer to buy or sell, or a recommendation or endorsement of products, services or companies. Bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.