Crypto VC funding: BitMine secures $250m, TWL Miner bags $95m

Crypto venture funding rebounded modestly this week, with $466.6 million raised across 15 deals between June 29 and July 5—primarily driven by outsized bets on Bitcoin infrastructure.

The majority of capital flowed into mining and ecosystem development, led by BitMine’s massive $250 million private placement backed by Mozaryk, Founders Fund, and Pantera.

Other notable rounds include TWL Miner’s $95 million Series B and The Open Platform’s $28.5 million raise at a $1 billion valuation. While smaller deals spanned gaming, AI, and DePIN projects, investor appetite remains focused on Bitcoin-native scalability, mining, and infrastructure plays, even as other sectors attract strategic capital.

Here’s a detailed overview of this week’s crypto funding developments as per the data from Crypto Fundraising:

BitMine

• BitMine raised $250 million through private placement.
• The project is operating in Bitcoin (BTC) mining sector.
• The investment was backed by Mozaryk, Founders Fund, and Pantera.

TWL Miner

• TWL Miner, a UK-based cloud mining platform, secured $95 million in a Series B round.
• Bitcoin mining and artificial intelligence infrastructure company.

Distinct Possibility Studios

• Distinct Possibility Studios raised $30.5 million in an unknown round.
• The project is building an AAA-quality game on Tezos (XTZ) blockchain.
• Investors include BitKraft, Brevan Howard, and Tezos Foundation.

The Open Platform (TOP)

• The Open Platform gathered $28.5 million in a Series A round, with a fully diluted valuation of $1 billion.
• The project is operating in blockchain, infrastructure, and Ton Ecosystem sectors
• The investment was backed by Ribbit Capital and Pantera

The Blockchain Group

• The Blockchain Group raised $13 million in an unknown round
• The project focuses on AI, Bitcoin Ecosystem, and Finance/Banking
• The investment was backed by Cobalt and Adam Back

Projects <$10 million

• Backseat, $9.7 million in a seed round
• Pipe Network (Permissionless Labs), $7.5 million in a public sale with $250 million fully diluted valuation
• Zypher Network, $7 million in an unknown round
• Datagram, $4 million in a pre-seed round
• Limitless, $4 million in a strategic round
• Coinstash, $3.1 million in a Series A round
• inshAllah, $2.1 million in a pre-seed round
• Crystalfall, $2 million in an unknown round.
• AllScale, $1.5 million in an unknown round
• XO Market, $500,000 in a pre-seed round