Magic Line raises $40 million to start bitcoin mining business in the United States

On February 16, Capital State learned that Moxian (MOXC.US), an Internet media marketing service provider, announced that the company has completed a private placement of 16 million new ordinary shares at a price of $2.50 per share, raising a total of $40 million. .

The $29.8 million raised this time was used to purchase bitcoin mining assets, and the rest of the funds were kept as working capital.

Magic Line said that starting from the end of February 2022, the mining asset will gradually be put into operation in the United States, which is the first step in the diversification of the company's business.