W3BCLOUD Raises $20.5 Million To Rollout a Network of Data Centers Dedicated for the Blockchain Economy
25.6.2020 13:00:00 EEST | Business Wire | Press release
W3BCLOUD, a joint venture between Advanced Micro Devices (NASDAQ: AMD) and ConsenSys, announced today that it has completed its initial close of $20.5M in convertible notes from Advanced Micro Devices (NASDAQ: AMD) and ConsenSys, along with several family offices in the United Arab Emirates. With this first round of funding, W3BCLOUD will ramp and operate its first Ethereum blockchain data centers. W3BCLOUD will expand its network of decentralized data centers across the globe as more funding is raised.
Ethereum is emerging as the programmable blockchain of choice for decentralized finance (DeFi) and United States Dollar-pegged stablecoins. The economic dislocation of 2020 coupled with the global dollar shortage sparked a significant increase in dollar-backed stablecoins transactions on the Ethereum blockchain.
“The trustless, permissionless and decentralized economy requires robust and dedicated data centers to scale. W3BCLOUD brings together the pre-eminent GPU manufacturer and the leading blockchain developer to build the compute infrastructure for the blockchain economy,” said Co-Founder and CEO Sami Issa.
Post economic recovery, individuals, enterprises and governments will prioritize resilience and resiliency requires geopolitical decentralization, permissionless and robust infrastructure.
"W3BCLOUD is building the next generation decentralized compute, storage and bandwidth for the planet," said Ethereum Co-Creator and ConsenSys Founder, Joseph Lubin.
“Parallel and Distributed Computing focused on blockchain use cases is a fast-growing segment of the industry. I am very excited to see W3BCLOUD power up their first GPU-centric data center focused on blockchain as they work to ramp aggressively across multiple geographies throughout 2020,” says Jörg Roskowetz, Head of Blockchain Business Unit, AMD.
About W3BCLOUD
W3BCLOUD is an exclusive joint venture between Advanced Micro Devices (NASDAQ:AMD), a leading high-performance computing, graphics and visualization technologies company, and ConsenSys, the leading blockchain software development and product company. W3BCLOUD is building a global network of high-performance data centers to enable Web 3.0 and the blockchain economy. The team has 100+ years of global experience in Semiconductors, Data Centers, Blockchain, Crypto, Cloud and AI. W3BCLOUD is headquartered in Dublin, Ireland.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200625005351/en/
Contact information
Zara Gleasure
zara@cw8-communications.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Convatec’s Advanced Wound Care Innovation Leads the Industry at European Wound Management Association (EWMA) 20265.5.2026 17:11:00 EEST | Press release
Convatec, a leading medical products and technology company focused on chronic condition management, takes to the stage to showcase the breadth, depth and momentum behind its Advanced Wound Care innovation pipeline at the European Wound Management Association (EWMA) 2026 conference in Bremen, Germany, from 6–8 May 2026. Convatec’s industry-leading Advanced Wound Care innovation is supported by compelling new data from randomised controlled trials (RCTs) and real-world studies, with 13 abstracts accepted for publication and presentation at EWMA evaluating outcomes in hard-to-heal wounds across foam, multimodal, nitric oxide‑generating dressings, antimicrobial technology and Wound Hygiene. Convatec has launched or secured approvals for five new wound care products since 2022, demonstrating our commitment to pioneering innovative solutions to support patients and healthcare professionals, including: ConvaFoam™: Best-in-class multi-layer foam dressing designed to be repositionable on appli
Laserfiche Recognized as a Leader in 2026 Gartner® Magic Quadrant™ for Document Management5.5.2026 17:00:00 EEST | Press release
Laserfiche — the leading SaaS provider of intelligent content management — has been positioned as a Leader in the 2026 Magic Quadrant for Document Management. Laserfiche believes this recognition underscores the company’s commitment to empowering organizations to transform complex, operational business processes through AI-powered content management. “It’s incredible to see Laserfiche recognized during the same week as our annual Empower conference, where we announced our latest agentic AI capabilities,” said Thomas Phelps, senior vice president of corporate strategy and chief information officer at Laserfiche. “We believe being positioned as a Leader — and receiving the highest overall rating among 16 vendors in Gartner Peer Insights, with a 4.7 out of 5.0 based on over 1,300 reviews as of April 30, 2026 — reflects our relentless focus on product innovation and delivering value to our customers.” As the document management market continues to evolve and expand, the ability to bridge t
De’ Longhi and La Marzocco Redefine the Coffee Experience at Milan Design Week 20265.5.2026 16:43:00 EEST | Press release
Milan Design Week annually transforms the city into a global stage for design culture and functional aesthetics, attracting hundreds of thousands of visitors and creatives from around the world to define the year's leading trends. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260505367702/en/ Once again, the De’ Longhi Group took the spotlight with activations dedicated to the evolving world of coffee, spanning at-home rituals and out-of-home professional settings. For Milan Design Week 2026, De’ Longhi presented 'The Smallest Coffee Shop at Home,' where the brand reimagined its bestselling machines in the style of cafes around the world. The idea was developed in collaboration with master miniaturist Simon Weisse. The visionary model-maker is renowned for his work with internationally acclaimed filmmakers, including Wes Anderson on The Grand Budapest Hotel, Luca Guadagnino, and Wim Wenders. The project features five handcr
Submission Deadline for 5th Cycle of the Mohammed bin Rashid Al Maktoum Global Water Award Extended to 30 September 20265.5.2026 16:41:00 EEST | Press release
In response to requests from a large number of participants, the UAE Water Aid Foundation (Suqia UAE) has extended the submission deadline for the fifth cycle of the Mohammed bin Rashid Al Maktoum Global Water Award to 30 September 2026. The extension aims to enable the widest possible participation from applicants around the world. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260505894901/en/ Submission deadline for 5th cycle of the Mohammed bin Rashid Al Maktoum Global Water Award extended to 30 September 2026 (Photo: AETOSWire) Launched by HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and overseen by Suqia UAE under the umbrella of the Mohammed bin Rashid Al Maktoum Global Initiatives, the award supports research and development efforts to develop sustainable solutions to address the global water crisis using renewable energy. It aims to tackle water scarcity
Andersen Global Adds Collaborating Firm NetExpat5.5.2026 16:30:00 EEST | Press release
Andersen Global strengthens its platform across Asia Pacific, Europe, and the U.S. through a Collaboration Agreement with NetExpat, a firm specializing in employee assistance, intercultural training, and leadership development for internationally mobile employees. Founded more than 25 years ago, NetExpat is a recognized leader in global mobility and talent management, supporting multinational clients worldwide. The firm provides assessment, training, and coaching programs designed to support global workforces and their relocating employees, including intercultural readiness assessments, high-impact cultural training, employee spouse career and integration support, and talent development programs for internationally oriented teams. “For more than two decades, NetExpat has focused on helping organizations and their people thrive amid international mobility,” said Alain Verstandig, co-founder & CEO of NetExpat. “Collaborating with Andersen Global allows us to amplify that commitment, brin
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom