EXCLUSIVE: Bitcoin mining infrastructure startup Giga Energy raising $10 million in Series A by Yogita_Khatri5
The funding will help the Texas-based startup expand its operations in the U.S. and beyond, according to a pitch deck obtained by The Block. Giga Energy has previously raised $3.6 million in total funding, per the deck.
Giga Energy was founded in 2019 by Matt Lohstroh and his friend and high school classmate Brent Whitehead. The duo, both 20 at the time, hit upon surplus natural gas as a power source to mine bitcoin. Later they ventured into the infrastructure space, manufacturing their own natural gas generators. As for its business model, Giga's revenue comes from mining bitcoin as well as selling electricity, generators and rack space.
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