Russian Miner Coin(RMC) is reportedly looking to create a ‘next-gen ecosystem for miners and investors’ having raised $43m through an ICO.
The final closing of the ICO sees the company fall short of its initial $100m target according to RMC told EWDN. Despite falling short, the company has raised enough to its continue its project, with $10m going towards developing its new generation processor, dubbed Multiclet.
Reaming proceeds from the ICO will be used to produce Sunrise, a built-in security chip, with company aiming to challenge China in terms of Bitcoin Mining.
The tokens issued in the course of the ICO will have rights to 18 percent of the revenue earned with the company’s mining equipment according to its website.
RMC is co-founded by Dmitry Marinichev, an advisor to Russian president Vladimir Putin on internet matters.
Funding to Blockchain & Cryptocurrencies
Investments to the Blockchain & Cryptocurrencies sector made a strong start to the year and is on course to reach a record high in 2017 according to data by FinTech Global.
A total of $412m has been invested in the first half of the year, representing 72% of last years’ total funding. This was partly due to a few large deals including a $107m deal to Blockchain company R3 CEV in May 2017 which made up 26.0% of the total funding in the first half of 2017.
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