Singapore-based HashMix raises $3m to launch crypto mining power marketplace

Singapore-based HashMix, a hashrate tokenization and marketplace protocol, said it has raised US$3 million in its latest funding round.

The fundraise saw participation from HashKey Capital, Fenbushi Capital, Continue Capital, GBV, SevenX Ventures, Kenetic Capital, FBG Capital, LongHash Ventures, Morningstar Ventures, A&T Capital, and Qtum, among others.

Photo credit: Max Pixel

Founded in 2020, HashMix aims to make the crypto mining economy accessible to more people by introducing a universal marketplace for various mining capacities using the non-fungible token (NFT) technology. NFTs are units of data stored on a blockchain that certifies that a digital asset is unique and non-interchangeable.

The startup said its technology can lessen the risks of overselling and fraud and makes it easier for miners and investors to buy and sell “hash power.” HashMix said its ecosystem is supported and incentivized via its native token, HSM.

The new funds will be used to develop HashMix’s product, strengthen its marketing efforts, and make new hires. Additionally, the company aims to roll out its first mining power NFT in June.

“We are proud that we have received financing from some of the world’s top venture capitals and incubators in blockchain. They bring with them industry expertise, possible synergies, and strong networks that will benefit the project in the long run,” said WB, founder and CEO of HashMix.