New Layer Capital is extremely excited to participate in Block Green‘s $3.7M Seed Round led by our friends at Founders Fund. The Company is building a novel decentralized capital market protocol built around Bitcoin.
The protocol will give sustainable Bitcoin mining operations access to fair and transparent financing on-chain. Miners will use their future Bitcoin production as collateral by borrowing against their existing hash power. On the other end of the protocol, Bitcoin holders will be able to lend their assets and receive a share of the Bitcoin rewards produced. Block Green aims at unlocking decentralized finance liquidity for miners with sustainability in mind and supporting cross-chain financing mechanisms. The company will move beyond Bitcoin mining into other renewable energy use-cases as a next phase.
With this investment, New Layer Capital continues our thematically focused investment strategy at the intersection of blockchain, energy and sustainability. Block Green joins our existing sustainability portfolio companies which provide sustainability standards (Sustainable Bitcoin Protocol) and landfill waste methane bitcoin mining (Vespene Energy), among others.
- Peter Thiel’s Founders Fund has led a $3.7 million seed equity round into Block Green, a lending protocol that aims to serve miners who lack access to capital
- Investors in the round, which closed in early June, included Coinbase Ventures, Blizzard, Global Founders Capital, FJ Labs, and New Layer Capital
- The company is set to hire the current director of miner finance at crypto Lender BlockFi