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Gridless, a bitcoin mining company helping to bring new energy generation to rural communities in East Africa, has secured a USD 2 Mn seed investment. The round was led by Stillmark and Block, Inc. in addition to a pre-seed round led by Factor[e], who is also participating in this round alongside Stillmark and Block. The investment will support the company’s further expansion of bitcoin mines across African markets.
Gridless designs, builds, and operates bitcoin mining sites alongside small-scale renewable energy producers in rural Africa where excess energy is not utilized. 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 not available.