just caught that Blockcap wrapped up a $38M funding round for expanding their ASIC operations. pretty solid raise for a bitcoin mining play in this environment. the focus on ASIC expansion makes sense given how competitive the hardware game has gotten. Blockcap seems to be betting big on scaling their mining infrastructure, which could be interesting if they can actually execute on it. mining has been through so much volatility lately that seeing companies still willing to invest heavily in hardware capacity is kind of telling about where they think things are headed. wonder if other mining outfits will follow suit or if Blockcap is reading the room differently. either way, $38M is real capital moving into mining hardware. curious to see what their actual hashrate targets look like.