Avalon Clones, a Scottsdale, AZ-based Bitcoin mining hardware and computer company that provides solutions to Bitcoin miners on an international level, raised $3m in a second round of financing.
Backers were not disclosed.
This followed a $1.5m initial seed funding earlier in the year, which allowed the company to establish itself and achieve its initial objective of reverse engineering Avalon Batch 1 PCB boards and begin taking system pre-orders. With Avalon Clones working to fill initial pre-orders, this second funding opens will be used to speed up delivery times and development of proprietary hardware on both 110nm and 28nm chipsets.
The company is initially producing an Application-specific integrated circuit (ASIC) line of products based on Avalon purchased chips and Avalon’s design.