© Reuters
NEW YORK – Bitcoin Minetrix, a company specializing in cloud mining based on Ethereum, has managed to raise more than $7.5 million, demonstrating the growing confidence of investors in the cryptocurrency sector. This fundraising comes at a time when the market is hoping for the approval of a Bitcoin ETF, which is expected to propel the price of Bitcoin from its current level of $44,000 to a potential level of $50,000.
In recent meetings, the Securities and Exchange Commission (SEC) has hinted at the possibility of ETF approval, which has helped make the market outlook more optimistic. This optimism persists despite the significant price drops and liquidations reported by Coinglass.
Bitcoin Minetrix intends to use the majority of the funds raised to expand its mining operations and strengthen its marketing efforts. The company’s cloud mining model is designed to provide investors with a way to participate in cryptocurrency mining with reduced risk, particularly during periods of market volatility.
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