Coinbase Ventures recently invested in software and services company Titan. The investment creates a new foundation of trust in professional Bitcoin mining in North America.
On January 14th, Titan released a report showing Coinbase’s investment in mining company Titan
This took place as part of a seed fundraising round from Titan. The company was founded in 2018 by Ryan Condron , Jeff Garzik and Matthew Roszak . The developers have made it their core task to simplify the work of mining companies in North America by means of various advanced mining software. The investment is now intended to help Titan drive the company’s efficiency, profitability and growth.
Mining has evolved from a hobby to an industry and a critical global computer infrastructure. Titan is poised to help world-class mining companies meet these challenges.
So it says in the report. The company is currently in a beta test phase, which it claims to end in February 2021
In December 2020, Titan released a report stating that two North American mining companies, CoinMint and CoreScientific, would be the first to join the project. Mike Maloney, CFO of CoinMint commented on the cooperation:
While mining has been slowly developing in North America for some time, a trustworthy pool led by industry leaders has been a long time coming and is badly needed.
Titan is currently doing a lot of large-scale testing. The company stated that the closed beta is expected to start in January this year.