River launches Bitcoin mining product for traditional investors
River’s client base has grown by almost 600%, and order volumes have increased by 3,500%. The platform co-founded by Andrew Benson is widely popular among clients over the age of 50.
River Financial has announced the launch of a product that takes the hassle and complexity out of Bitcoin mining.
River Mining offers the firm’s clients the chance to mine their own Bitcoin without the difficulty of buying and setting up complicated mining computers themselves.
Integrating with River Financial’s platform and white-glove service, the Bitcoin mining service allows clients to own their mining hardware, with the Bitcoin generated being deposited directly into their River accounts.
The Bitcoin mining service is only possible by partnering with premier U.S.-based data centers to manage the mining machines and ensure that River’s clients are using the best technology available.
Alex Leishman, Chief Executive Officer at River, commented: “Our clients are looking to put their money to work, and River Mining will enable them to generate their own Bitcoin. This is a key step in our mission to accelerate the adoption of Bitcoin, the future of money.”
“With River Mining, our clients won’t just own Bitcoin, they’ll be part of the network. This is a unique opportunity to participate in the financial transformation enabled by Bitcoin. Our clients will be empowered to help build the future of finance in a way that wasn’t accessible before”, Alex Leishman added.
Bitcoin mining is technical and capital-intensive: chip shortages, supply chain breakdowns, and high residential energy costs have made entering mining more difficult.
That shouldn’t keep investors from accessing the lucrative operation. The Bitcoin technoogy and financial services company founded in 2019 is doing just that with River Mining as it removes these barriers for clients so they can own, manage, and generate Bitcoin with their personal Bitcoin mining fleets.
River Financial has recently raised $12 million in a Series A equity financing round to continue growing its financial service offerings for traditional investors.
The investment round was led by Goldcrest Capital with participation from Craft Ventures, Polychain Capital, M13, Castle Island, Slow Ventures, and The Kraft Group.
The San Francisco-based Bitcoin financial services provider first raised $5.7 million in a seed round in June 2020.
River’s client base has grown by almost 600%, and order volumes have increased by 3,500%. The platform co-founded by Andrew Benson is widely popular among clients over the age of 50.
The majority of volume on River is driven by clients over that age and the firm believes is still a large underserved segment of the population.
