Ireland-based data centre operator W3BCloud secured $20.5m in convertible note financing yesterday from investors including its founders: graphics processing unit (GPU) manufacturer Advanced Micro Devices (AMD) and blockchain software provider ConsenSys.
The corporates, which formed the company in 2018 as a joint venture, were joined by undisclosed family offices located in the United Arab Emirates.
W3BCloud is developing and building decentralised data centres designed to support blockchain and Web 3.0 activities. The convertible debt will support construction of its first blockchain data centres, which are focused on the Ethereum cryptocurrency.
Jörg Roskowetz, head of AMD’s Blockchain Business Unit, said: “Parallel and distributed computing focused on blockchain use cases is a fast-growing segment of the industry.
“I am very excited to see W3BCloud power up their first GPU-centric data centre focused on blockchain as they work to ramp aggressively across multiple geographies throughout 2020.”
