BitMine Raises $250 Million in Funding, TWL Miner Finalizes $85 Million Agreement

This week saw a slight recovery in crypto venture funding, amounting to $466.6 million raised across 15 deals from June 29 to July 5, largely driven by major investments in Bitcoin infrastructure.

Most of the funding was focused on mining and ecosystem development, particularly showcased by BitMine’s remarkable $250 million private placement, supported by Mozaryk, Founders Fund, and Pantera.

Other notable rounds included TWL Miner, which obtained $95 million in Series B funding, and The Open Platform, which raised $28.5 million at a $1 billion valuation. While there were smaller transactions in gaming, AI, and DePIN projects, investor interest remains largely directed towards Bitcoin-native scalability, mining, and infrastructure growth, even with other sectors drawing strategic investments.

Here’s a comprehensive overview of this week’s crypto funding activities based on data from Crypto Fundraising:

BitMine

• BitMine raised $250 million via a private placement.
• This project is involved in the Bitcoin (BTC) mining industry.
• The investment was spearheaded by Mozaryk, Founders Fund, and Pantera.

TWL Miner

• TWL Miner, a cloud mining platform in the UK, secured $95 million in a Series B funding round.
• The company specializes in Bitcoin mining and AI infrastructure.

Distinct Possibility Studios

• Distinct Possibility Studios raised $30.5 million in an undisclosed funding round.
• The project is targeting the development of an AAA-quality game on the Tezos (XTZ) blockchain.
• Investors in this round include BitKraft, Brevan Howard, and the Tezos Foundation.

The Open Platform (TOP)

• The Open Platform raised $28.5 million in a Series A round, reaching a fully diluted valuation of $1 billion.
• The project operates within the blockchain, infrastructure, and Ton Ecosystem sectors.
• This investment was supported by Ribbit Capital and Pantera.

We’re proud to become the first unicorn in the Web3 ecosystem in Telegram, reaching a $1B valuation in the latest equity funding round.

This achievement was made possible thanks to the support of @RibbitCapital and @PanteraCapital.

“This investment supports our long-term strategy to scale… pic.twitter.com/VCUC1TcXTS

— The Open Platform (@topdotco) July 3, 2025

The Blockchain Group

• The Blockchain Group raised $13 million in an undisclosed round.
• This project is focused on AI, the Bitcoin ecosystem, and finance/banking.
• The investment was led by Cobalt and Adam Back.

Projects <$10 million

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