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
REPLY: the Board of Directors Approves the Quarterly Financial Report as of 30 September 202612.11.2026 15:41:00 EET | Press release
Today, the Board of Directors of Reply [EXM, STAR: REY] approved the results as at 30 September 2026. The Group's consolidated turnover in the first nine months of the year reached €1,987.9 million, an increase of 9.2% compared to €1,819.8 million recorded on 30 September 2025. The indicators for the period are positive. Consolidated EBITDA was €354.9 million, equal to 17.9% of the consolidated revenues. As of September 2025 EBITDA was €335.5 million. EBIT, from January to September, reached €286.7 million, equal to 14.4% of the consolidated revenues. The corresponding 2025 figure was €281.0 million. Pre-tax profit, from January to September 2026, was €291.6 million, equal to 14.7% of the revenues. As of September 2025 pre-tax profit stood at €268.1 million. For the third quarter of the year, the Group’s performance is positive, with consolidated turnover for the period of €676.0 million compared to €598.5 million of the third quarter 2025. EBITDA, from July to September 2026, was equa
Klarna Names Chris Koegel as Chief Financial Officer12.11.2026 15:30:00 EET | Press release
Klarna Group plc (NYSE: KLAR), the everyday finance network, has appointed Chris Koegel as Chief Financial Officer, effective 1 January 2027, subject to regulatory approval. The appointment has been approved and endorsed by the Klarna Group plc board. He will succeed Niclas Neglén, who will remain CFO until the end of 2026. Koegel joins from Robinhood Markets Inc. (NASDAQ: HOOD), where he is Vice President, Head of Corporate Finance and Investor Relations. He joined Robinhood in 2022 and has served on the Leadership Team through a period of significant growth; the company’s valuation has grown from less than $10bn and has exceeded $100bn during his tenure. Before Robinhood, he was Head of Investor Relations at LPL Financial LLC (NASDAQ: LPLA) from 2015 to 2022, after spending 13 years at Bain & Company. Koegel has a BA in Mathematics from Williams College, an MBA from Dartmouth College, and is based in the US in the Boston, MA area. “Chris’s experience as a Finance leader at a US-liste
SLB Selected by Vår Energi for Integrated Drilling Services Offshore Norway12.11.2026 14:50:00 EET | Press release
Global energy technology company SLB (NYSE: SLB) today announced it has been selected by Vår Energi as its main integrated drilling services supplier for the Transocean Barents and Deepsea Bergen rigs on the Norwegian Continental Shelf. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261111105994/en/ SLB (NYSE: SLB) has been selected by Vår Energi as its main integrated drilling services supplier for the Transocean Barents and Deepsea Bergen rigs on the Norwegian Continental Shelf. The selection covers an initial four-year period, with four additional one-year extension options that could extend the scope through 2034. Two harsh-environment semisubmersibles will continuously drill exploration and development wells during this period. The integrated delivery model brings together technical expertise, digital workflows and operational execution across the well delivery process. Working closely with Vår Energi and other selected
Takeda Launches ORZEYFUL™ (oveporexton), the First and Only Medicine of Its Kind for Narcolepsy Type 1 Now Available in the United States12.11.2026 14:35:00 EET | Press release
Takeda (TSE:4502/NYSE:TAK) announced that ORZEYFUL™ (oveporexton) CIV is now available in the U.S. by prescription for the treatment of narcolepsy type 1 (NT1, narcolepsy with cataplexy) in adults, bringing the first and only orexin agonist to this community. Learn more at ORZEYFUL.com. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261111123458/en/ Orzeyful Logo “Living with narcolepsy type 1 is an ongoing struggle to keep it together – from scheduling naps and anticipating sleep attacks to figuring out how to be present as a mom and a professional,” said Emily P., clinical trial participant with NT1. “With ORZEYFUL, I feel more confident planning my day because my narcolepsy has become more manageable.” Driven by orexin deficiency, the persistent 24-hour nature of NT1 affects far more than daytime sleepiness; it shapes how people plan their days and navigate many parts of their lives. What others might do without thinking
MultiBank Group and Universal Sign Agreement to Develop USDU Settlement Capabilities for Institutional Clients12.11.2026 14:02:00 EET | Press release
MultiBank Group, one of the world’s largest financial derivatives institutions, has signed a memorandum of understanding (MoU) with Universal Digital Intl Limited (“Universal”) to develop settlement capabilities using USDU, Universal’s US dollar-backed stablecoin, for eligible institutional digital asset transactions. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261112192767/en/ MultiBank Group, one of the world’s largest financial derivatives institutions, has signed a memorandum of understanding (MoU) with Universal Digital Intl Limited (“Universal”) to develop settlement capabilities using USDU, Universal’s US dollar-backed stablecoin, for eligible institutional digital asset transactions. The initiative will begin with a pilot for eligible Professional Clients on mb.io, the Group’s cryptocurrency and digital asset trading platform. It combines MultiBank Group’s trading infrastructure, institutional relationships and li
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