Italian company  Alps Blockchain,  a producer of computational power for blockchain and digital mining, has received €105 million debt financing from fintech Azimut. This brings the company’s funding to over €140 million.

Founded in 2018, Alps Blockchain builds and operates greener mining farms. It revives historic hydroelectric power plants by installing mining farms integrated with the traditional production system to create more sustainable mining.  

Today, Alps Blockchain has extended its reach from  Europe to South America and the Middle East, focusing on projects that generate scalable growth and new opportunities through computational power generation. 

In the last three years the company has quintupled the number of mining machines installed in its planned sites globally from 2,500 to over  15,000. This increase has enabled the company to reach a total energy capacity of  50 MW and more than 2 EH/s (exahash per second) of computing power produced by June 2024. 

Giorgio Medda, CEO and Global Head of Asset Management & Fintech of the Azimut  Group, commented: 

“We are thrilled to strengthen our relationship with Alps  Blockchain, whose objective is to make mining more sustainable.

This new transaction is part of Azimut’s broader commitment to promoting a global and sustainable energy transition through innovative investment solutions in private markets.”

Francesco Buffa, CEO of Alps Blockchain, stated: 

“At Alps Blockchain, we are committed to shaping projects that foster the synergy between new technologies and the world of energy, generating a positive impact in both sectors.”

The funds raised will support Alps Blockchain’s growth and  internationalisation path, consolidating and implementing its existing  operations and considering expansion into new markets. 

Lead image: Alps Blockchain. Photo: uncredited.