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
From Factory to Field: emnify Launches OEM Program with Free SGP.32 Bootstrap Connectivity25.8.2026 11:00:00 EEST | Press release
emnify, a global provider of cloud-native IoT connectivity, today announced a new program for original equipment manufacturers (OEMs) building connected products for international markets. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260825932817/en/ From Factory to Field with SGP.32 Bootstrap Connectivity The program addresses two common challenges for OEMs: testing and configuring devices that would otherwise leave the factory without connectivity and managing customer-specific physical SIMs throughout production and fulfilment. It enables OEMs to ship a single device SKU globally with built-in SGP.32 bootstrap connectivity, allowing each device to connect to the relevant device-management system for connectivity testing, configuration, and digital eSIM profile provisioning - from the factory onward. Free emnify SGP.32 bootstrap profiles are available for every connected device across an OEM’s production volumes - not on
Nessum Adoption Expands Across Global Energy-Management Infrastructure25.8.2026 11:00:00 EEST | Press release
Nessum Alliance*2 today announced the expansion of Nessum technology in commercial HVAC and smart grid applications through deployments by Alliance members Daikin Industries, Ltd. and Power Plus Communications AG (PPC). The Alliance also noted that cumulative worldwide shipments of LSI devices incorporating Nessum IP have surpassed six million units, according to Panasonic Holdings Corporation, the technology licensor, underscoring its maturity and market adoption. As energy management, digitalization, and sustainable infrastructure accelerate worldwide, organizations need communications networks that combine reliability and flexibility. By enabling high-speed IP communications over existing wiring, Nessum is expanding its role across energy-management applications. Deployments by Daikin and PPC demonstrate how IEEE 1901*3-based Nessum technology delivers value in real-world infrastructure environments, connecting systems, devices, and operational data across critical sectors. In the H
Xsolla Unveils Integrated Commerce Strategy at gamescom dev and gamescom 2026 With New Tools and Innovations25.8.2026 10:00:00 EEST | Press release
Xsolla, a global video game commerce company that helps developers launch, grow, and monetize their games, today announced it is set to return to gamescom dev and gamescom 2026, the world’s premier event for computer and video games, taking place August 24th to August 30th in Cologne, Germany, EU. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260825332614/en/ Graphic: Xsolla At this year’s event, Xsolla will showcase major releases from the past several weeks spanning creator marketing, global payments, backend infrastructure, and new distribution channels, all built to help developers launch, grow, and monetize with less friction: Expanded Xsolla Partner Network: An expanded network with verified creator marketing inside Publisher Account, more than 15 new local payment methods across three continents, and CLI support for the free AI Toolkit that takes developers from merchant account to working web shop in a single sessio
Aarhus Vand Selects Netmore for Smart Meter Network25.8.2026 09:00:00 EEST | Press release
Netmore Group, the leading network operator and platform provider for Massive IoT, today announced a collaboration with Aarhus Vand and Kamstrup to support the deployment of approximately 69,000 digitally connected water meters across Aarhus Municipality, Denmark. Powered by Netmore's carrier-grade LoRaWAN® network and Kamstrup's digital water metering technology, the project will provide Aarhus Vand with real-time visibility into water consumption while helping residents better understand and reduce their water usage. Rollout begins in Tranbjerg following a successful pilot involving approximately 1,000 households, where the communication between Kamstrup's digital meters and Aarhus Vand was validated. The full deployment will continue through 2030, covering communities across Aarhus Municipality. The new water meters will eliminate manual meter readings while enabling continuous remote collection of consumption data. Customers will gain online access to their water usage, allowing th
IFF Report Finds GLP-1 Is Reshaping Food Choices and Eating Behaviors Among Indian Consumers25.8.2026 08:30:00 EEST | Press release
IFF (NYSE: IFF) — a global leader in flavors, fragrances and health and biosciences — released new research examining how GLP-1 use is influencing food behaviors among Indian consumers and what those shifts may mean for the future of food and beverage innovation. The study is the latest in IFF’s GLP-1 global consumer insights following the company’s 2025 GLP-1 Consumer Opportunity Outlook. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260824816059/en/ “We are seeing that a change in appetite can lead to a broader change in the relationship people have with food, from how much consumers eat to how they choose, experience and participate in eating occasions,” said Harsch Koshti, regional marketing director, IFF Taste for Greater Asia. “For the food industry, this is a critical opportunity to listen closely to these emerging behaviors and think about how innovation can address these needs.” The report, "Inside the India GLP-1
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