"We've been working hard on a big opportunity that came our way last year, and today, we're excited to bring our mining operation out of stealth mode," announced Swan on X.
"Swan Mining began operations in Summer 2023. Currently operates at 4.5 exahash, with deployment expected to exceed 8 EH by March. Over 750 BTC mined to date."
“Swan Mining developed and deployed at warp speed. Our understanding is that this is the fastest-ever initial deployment of hashrate at this scale in Bitcoin history,” said Rapha Zagury, CIO at Swan and head of Swan Mining.
"Swan expanded dramatically over the past year, doubling team size and growing revenue to more than $125M annualized. The company intends to raise its Series C financing in the coming months, with uses of capital equally split between financial services, mining, and acquisitions," was stated in the press release.
Swan founder and CEO Cory Klippsten also said that "the company is actively working to achieve a public listing within the next 12 months."