Recently, Pow.re announced that it had received $18 million in strategic investment from Haru United Pte Ltd. The company also announced its partnership in the first HDC site in Paraguay.
Pow.re’s $18 Million Strategic Partnership
The company, which also recently completed its Series A funding round, aims to expand its HDC facilities and ASIC acquisition strategy with the investments it has received. Agreements between the startup and the Administración Nacional de Electricidad Ande will provide electricity to the company’s new facilities in Paraguay.
The company is still on target to reach its 1Q23 hashing strength goal of over 500 petahash per second. The first startup plant in Paraguay opened its doors in late January, and the second site followed at the end of 1Q23. The company is persistent in its pursuit of growth, and the startup’s pipeline of numerous 100MW hydro-powered projects is beginning to appear.
“We are grateful to our strategic partner and investors for their support and conviction in our execution capabilities. This mandate will enable us to accelerate our growth and capitalize on opportunities in current market conditions.”
Calvin Toy
About The Startup
The company provides financial services and high-density data centers to the digital asset industry. In order to generate hashing power, the company, a proof-of-work digital miner, deploys HDC data centers close to sustainable stranded energy sources. To commodify hashing power markets and enable hedging and investment, the company uses its expanding proprietary hashing power.
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