SAN FRANCISCO, April 20, 2020 /PRNewswire-PRWeb/ -- Arctos Capital, LLC is pleased to announce the closing and funding of a $1,000,000 USD sale and leaseback transaction for Blockware Mining, LLC, a leading Bitcoin Mining and Mining Rig Hosting Services Company, operating in the United States. The proceeds will be used for working capital and to further expand the company's mining capacity through the acquisition of additional mining equipment.
Matt D'Souza, as CEO, and Michael Stoltzner, as President, form the management team of Blockware Mining.
Trevor Smyth, Managing Partner at Arctos Capital, commented "After spending time with the Blockware Mining Team over the past few months, it became apparent that they understand the economics of mining bitcoin as well as anyone, and that they were setting their operation up for success. We are excited to announce the closing of this sale and leaseback transaction, which we believe to be one of the first, if not the first, transaction of its kind in the US. Equipment leasing structures will offer Bitcoin Mining Companies an efficient, lower risk method to free up working capital and expand their revenues. We are excited to grow our capacity to provide debt financing to the top Bitcoin Miners in North America throughout 2020 and beyond."
About Arctos Capital, LLC
Arctos Capital is a technology-driven commercial lender that provides financing solutions to bitcoin holders, investors, and mining businesses. In addition to our lending operations, we manage a private fund that provides accredited investors access to non-correlated, high-yield credit opportunities.
About Blockware Mining, LLC
Blockware Mining is a multi-dimensional Bitcoin Mining Facility located in the US. Blockware Mining offers US Miners 5.75c – 6.7c with one of the most competitive Hardware + Hosting packages to get US Miners up and hashing within 48 hours. They have mining rigs on-site to purchase and offer a turnkey hosting solution with 24/7 on-site management. Blockware presently self-mines 6 MW (over 150PH) with Bitmain S17+ Mining Rigs. Blockware Mining's objective is to decentralize the Bitcoin Network by bringing more hash to the US to counterbalance the 65% in China. Blockware Mining seeks to achieve an environment where its US Mining Clients are competitive beyond the May Halving by providing some of the lowest all-in hosting rates in the country.
Blockware Mining's CEO Matt D'Souza's research report on Bitcoin Mining and the effect that Halving 2020 will have on miners (https://www.blockwaresolutions.com/research-and-publications/2020-halving-analysis) has become the most widely followed report in the industry. Mr. D'Souza has been a keynote speaker at many conferences over the last couple of years and can be heard or quoted almost daily on various podcasts and articles.
Blockware Mining, LLC
SOURCE Arctos Capital, LLC