Solteir (Formerly known as Y2X Digital Solutions), a special purpose data center company providing full service, full lifecycle hosting of ASIC and GPU mining equipment, today announced the completion of a multi-million dollar Series A funding round. The financing will allow the company to continue to develop into one of the largest centers for high capacity computing in the U.S.
The company, led by co-founders Jesse Fastenberg and Andrew Insignares, has grown to 3.5 megawatts of continuous electrical output. The Series A financing will allow for construction of its own substation and scaling to 25 megawatts over the next 18-24 months. Solteir has achieved seven figure revenues and profitability, driven by favorable hedges against bitcoin volatility, 70% of revenue in long term contracts, and favorable cost versus deployment spreads.