Home Cryptocurrency Blockcap Mined $33M in BTC in First Quarter, Q1 Bitcoin Revenue Outshines US Competitors – Mining Bitcoin News

Blockcap Mined $33M in BTC in First Quarter, Q1 Bitcoin Revenue Outshines US Competitors – Mining Bitcoin News

by Serge Shlykov

Texas-based Blockcap Incorporated has announced that approximately 544 bitcoins were mined in the first quarter of 2021. Blockcap says the $33 million bitcoin is the result of the company’s fleet of 12,176 mining devices.

Bitcoin glides 544 Bitcoins

The markets for Bitcoin (BTC) have grown phenomenally over the past three months, and along with the price increase, mining companies are reaping profits. This week, Austin-based Blockcap revealed its first quarter results in terms of bitcoin (BTC) revenue. The company bought $33 million, or 544 bitcoins, in the first quarter. Bitcoin.com News recently reported that Blockcap is moving its headquarters to Austin.

Then Texas Governor Rick Perry praised Blockcap for bringing technological innovation to Texas. The company has acquired 544 bitcoins this year using 12,176 career machines, and Blockcap hopes to roll out even more machines. Blockcap hopes to have 43,000 bitcoin mining devices fully operational by next year. The company has produced a total of 1600 BTC since its inception last year, or $98 million at current exchange rates.

Blockchain has an aggressive growth strategy focused on creating more jobs in the blockchain industry, not only in the U.S., but also in our state of Texas and our hometown of Austin, said Blockchain founder Darin Feinstein. We are proud to compete in this sector with a number of other high-quality companies, and we believe that we all have the opportunity to grow together and, in turn, generate broader, sustainable economic growth at the local, state and national level.

Commitment to make the US a center for bitcoin mining and outperform US competitors

Feinstein explained that the company wants to make the US a hub for blockchain technology and bitcoin mining. Blockcap’s founder also claims to have outperformed several large North American bitcoin mining companies.

That includes Riot Blockchain, a publicly traded company that mined 491 bitcoins in the first quarter of the year, and 165 bitcoins mined by Hive Blockchain in the third quarter of last year, Feinstein added.

The Blockcap founder also noted that blockchain technology and cryptocurrency solutions not only create jobs in the United States, but also help unemployed people around the world.

Currently, about 60 million Americans do not have access to a bank account, and globally about 1.7 billion people also do not have access to a bank account, Feinstein said. And at Blockchain, we firmly believe that the Blockchain industry as a whole will provide these unbanked people with the essential technology they need to access the financial system.

What do you think of Blockcap’s first quarter bitcoin results? Let us know what you think in the comments below.

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544 bitcoins, Austin, bitcoin mining, blockchain, competitor, hive blockchain, mining, bitcoin mining, BTC mining, Q1, Q1 results, blockchain insurgency, Texas

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