According to TechFlow, Canadian crypto mining company Pow.re announced on Thursday that it had completed a $9.2 million Series A financing and received a $18 million strategic investment. The Series A financing valued the company at $150 million, led by Haru Invest, with participation from Trinito and RFD Capital; the $18 million strategic investment came from Haru and will be used to fund the company's expansion in Paraguay.
As Paraguay expands, the miner said it will have more than 500 PH/s of mining capacity this quarter, powered by hydroelectric power.
Pow.re also operates mines in Wabush, Labrador, Canada, in the North Atlantic, which also uses hydroelectric power, and a mining facility near the St. Lawrence River in Quebec, which uses wind power.
Recently, another Canadian mining company, Blockstream, raised $125 million to expand its Bitcoin mining facilities and hosting services.