# XY Miners

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/xy-miners

- Industry: Financial Services
- Headquarters: Brighton, UK
- Website: www.xyminers.com/
- Total disclosed funding: $300M
- Latest round: Series B (Apr 1, 2025)
- Investors on record: 7

## About

XY Squared Ltd, trading under the name XY Miners, is a blockchain and high-performance cloud mining company that enables users to mine cryptocurrencies such as Bitcoin and Ethereum through a sustainable, eco-friendly platform.XY Miners operates in the cryptocurrency sector, providing cloud mining services focused on environmentally friendly practices. Founded in 2017, the company has its headquarters in Brighton, UK. The founder's background includes establishing previous ventures in technology and finance. In April 2025, XY Miners raised USD 300 million in series B funding led by Sequoia Capital, with participation from Coatue Management, Kleiner Perkins, Openai Startup Fund Management, GV, Conviction, REV Venture Partners, and an individual investor. XY Miners specializes in cloud mining services, offering a platform for users to mine cryptocurrencies like Bitcoin, Ethereum, and Litecoin without needing physical hardware. Their service allows users to rent mining equipment powered by clean energy, specifically utilizing monocrystalline solar panels. The platform is designed for a global audience, catering to individual investors and eco-conscious consumers. Clients can select from various investment contracts tailored to their needs, ensuring flexibility and accessibility in a complex mining ecosystem.The revenue model of XY Miners is based on subscription-like contracts where users pay for the right to mine cryptocurrencies using the company's equipment. Clients can choose from various contract lengths and payment structures, suited for both short-term and long-term strategies. The pricing reflects competitive rates and transparent fees, ensuring no hidden costs. Revenue is generated through direct-to-consumer transactions and partnerships, facilitating daily distribution of mined cryptocurrencies to users' accounts, thus maintaining a reliable income stream. The company plans to use the April 2025 funding to develop advanced computing facilities and integrate AI to optimize mining efficiency, improving system performance and user benefits by up to 20%. XY Miners is also targeting expansion into new markets, focusing on regions such as Europe and Asia to broaden its customer base. Upcoming product developments are expected to be launched by 2026, enhancing the platform's capabilities.

## Funding rounds

- Series B, Apr 1, 2025, $300M — Kleiner Perkins, Hong Shan, GV, Coatue Management, REV Venture Partners, Openai Startup Fund Management, Conviction

## Investors

- Kleiner Perkins (https://capitalatlas.ai/funds/kleiner-perkins) — Series B
- Hong Shan — Series B
- GV (https://capitalatlas.ai/funds/gv) — Series B
- Coatue Management (https://capitalatlas.ai/funds/coatue-management) — Series B
- REV Venture Partners (https://capitalatlas.ai/funds/rev-venture-partners) — Series B
- Openai Startup Fund Management (https://capitalatlas.ai/funds/openai-startup-fund-management) — Series B
- Conviction (https://capitalatlas.ai/funds/conviction) — Series B