© 2019 Layer1 Technologies Inc.

NEWS & MEDIA

Forbes: Why Is This Peter Thiel-Backed Startup Mining Bitcoin In West Texas?

"[Layer1's] strategy is to [be] independent of any third-party suppliers or service providers. That way [Layer1] can be certain that even when bitcoin prices surge and suppliers hike their prices, Layer1’s economics will be insulated. That’s why the company is manufacturing its own processors and outfitting its own containers in factories in China and Croatia.”

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Fortune Despite ‘crypto winter,’ new Bitcoin mines continue to open

"Liquid cooling lets Layer1 access affordable energy whatever the weather, and Liegl says that's crucial to competing. New Bitcoin mining chips, known as ASICs, used to arrive at a rapid clip, forcing miners into expensive upgrades to stay competitive. But that has slowed, says Liegl, and “the competitive advantage of the future is [lowering] your operational expenses.”

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The Block: Peter Thiel-backed Layer1 begins mining bitcoin at its West Texas facility

"Layer1 Technology, a Peter Thiel-backed bitcoin mining startup, has officially launched its operation in West Texas, four months after the firm announced its plans."

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Digital Journal: Leveraging renewable energy to reclaim the Bitcoin Hash Rate

"Layer1 controls every aspect of the Bitcoin mining stack - from the actual large-scale mining farms (operations), to the hardware and energy that’s generated to process them. This full-stack approach affords control over every aspect of performance and cost - re-imagining the original principles of large-scale Bitcoin mining. Layer1 is now on the verge of realizing never-before-seen power capacity from its containers, which are modular, scalable, and plug and play deployable. Layer1 also develops proprietary chips, customer hashboards and liquid cooling systems."
 

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Fortune: Texas Bitcoin Mining Startup Gets $50 Million From Peter Thiel to Steal China’s Crypto Crown

"Layer1 wants to be the world's biggest Bitcoin miner by controlling everything from chip manufacturing to electricity production."

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Wall Street Journal: U.S. Bitcoin-Mining Startup Layer1 Looks to Take on China

"Layer1 owns land and bitcoin-mining facilities in Texas, where it is inexpensive to run its operation and faces less regulation [...] It also has developed proprietary mining hardware and creates its own computer chips for mining."

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Forbes: Billionaire Investor Peter Thiel Is Doubling Down On Bitcoin—Here’s Why

"Layer1 is aiming to challenge the perceived wisdom that bitcoin mining the in the U.S. will not be able to compete with regions such as China."

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Coindesk: Peter Thiel Backs $200 Million Valuation for Renewable Bitcoin Mining in the US

"The company has co-founders with prior expertise in hardware and mining, such that they believe they can execute a sophisticated strategy that makes mining in the U.S. profitable again."

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The Block: Big investors are pouring $50M into a bitcoin mining startup, and they’re hoping its own mining chips and Texas energy will make it a new powerhouse

"You need a U.S. representative in order to create more symmetric distribution in hash power, that would definitely be a net positive for the community and the protocol."

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Bitcoin Magazine: Layer1 Secures $50M in Funding to Rebalance the Global Bitcoin Hash Power

 

"Layer1 plans to own the production line, from design to production, and operation of the mining gear, as well as power procurement."

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