Layer1 Technologies’ $200 Million Series A Financing


Fenwick & West represented Layer1 Technologies Inc. in the transaction.

Layer1 Technologies Inc. raised a Series A financing at a $200 million valuation with the backing of Peter Thiel, Shasta Ventures and cryptocurrency industry leaders.

With this funding, Layer1 is positioned to own the whole Bitcoin mining stack by designing, producing and operating Layer1’s entire mining infrastructure, including proprietary ASIC chips, liquid-cooled mining containers, and power procurement and development.

Layer1 Technologies Inc. is the first US-based, vertically-integrated Bitcoin mining company and with the mission to strengthen Bitcoin’s decentralization and usage of renewable energy.

The Fenwick transaction team included corporate partner Mark Leahy (Picture) and associates Adam Derry and Nikhil Sharma.

Involved fees earner: Adam Derry – Fenwick & West LLP; Mark Leahy – Fenwick & West LLP; Nikhil Sharma – Fenwick & West LLP;

Law Firms: Fenwick & West LLP;

Clients: Layer1 Technologies Inc.;