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Firm backed by Shark Tank's Kevin O'Leary makes unusual investment
Firm backed by Shark Tank's Kevin O'Leary makes unusual investment originally appeared on TheStreet.
Bitzero Blockchain Inc., the Vancouver-headquartered crypto mining firm backed by Shark Tank judge Kevin O'Leary, announced on July 24 that it has secured $25 million in funding to expand its sustainable mining operations.
The firm will use the initial drawdown of the fund to purchase 2,900 industry-leading Bitmain S21 Pro miners. With the hardware completely deployed within 4-6 months, it is expected to generate an estimated additional annual revenue of $10 million.
The company said the investment marks a major step toward its commitment to transforming crypto's energy reputation, as it has taken several steps toward a sustainable mining model.
With operations in North America and Europe, its Namsskogan data center in Norway runs entirely on hydropower, the statement read.
Join the discussion with CryptosRUs on Roundtable here.
"Our mission has always been to prove that Blockchain infrastructure can thrive in harmony with investors, communities, and the environment," said Bitzero President and CEO Mohammed Bakhashwain.
O’Leary, a strategic investor at Bitzero, recently said the crypto mining firms are building their infrastructure close to abundant, sustainable energy sources, and the artificial intelligence (AI) industry — similarly dependent on large-scale infrastructure — should learn from them.
Since both crypto mining and AI industries are increasingly converging, institutional investors are eyeing facilities located near sustainable energy sources.
Bitcoin annually produces a carbon footprint of 98.10 Mt of CO2 and consumes electrical energy of 175.87 TWh, as per Digiconomist,. The crypto mining industry has, therefore, earned notoriety among environment advocacy groups.
Bitzero's pivot toward a sustaining model can offer a blueprint to similar firms attempting to transform crypto's energy reputation.
Firm backed by Shark Tank's Kevin O'Leary makes unusual investment first appeared on TheStreet on Jul 25, 2025
This story was originally reported by TheStreet on Jul 25, 2025, where it first appeared.
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