Fenwick Represents Layer1 in Series A Financing

Fenwick & West represented Layer1 Technologies Inc., a U.S.-based, vertically-integrated Bitcoin mining company, in raising 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. More information about the deal can be obtained from the company announcement.

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