PrimeBlock

PrimeBlock is a sustainable bitcoin mining operator and a diversified infrastructure provider for the digital asset ecosystem. The company was founded in 2021 by Chandler Song, the former CEO of Ankr, Ryan Fang, the former COO of Ankr, and Gaurav Budhrani, a former Goldman Sachs investment banker who now serves as PrimeBlock's CEO. The company is headquartered in Miami, Florida.

PrimeBlock operates a significant bitcoin mining operation with a substantial hashrate, positioning it among the larger players in the North American market. It has a portfolio of bitcoin mining rigs and a multi-year power contract securing a significant portion of its energy needs, with a focus on sustainable and carbon-free sources. The company has a stated commitment to sustainability, with a significant majority of its power being non-carbon emitting.

The firm's business model is centered on generating revenue from mining bitcoin and providing infrastructure-as-a-service solutions to other digital asset companies. This includes hosting services and managing data centers for third-party mining operations. In April 2022, PrimeBlock announced a definitive agreement for a business combination with 10X Capital Venture Acquisition Corp. II, a special purpose acquisition company (SPAC), which would have resulted in PrimeBlock becoming a publicly listed company. However, this merger was mutually terminated in August 2022 due to prevailing market conditions.

Keywords: bitcoin mining, digital asset infrastructure, sustainable mining, data centers, cryptocurrency, blockchain, hashrate, infrastructure as a service, proof-of-work, web3