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Bitcoin Miner 360 Mining Raises $2.25 Million As It Scales Natural Gas Production

Bitcoin miner 360 Mining raised $2.25 million in a new funding round and plans to deploy the funds to increase natural gas production and mining capacity. 

The company's plans were revealed by Bitcoin mining software company Luxor, which said it is participating in the funding around, along with BT Growth Capital. 

360 Mining previously raised $6 million in a seed round in October 2021. The company is ramping up production at a time when some of the largest Bitcoin miners are struggling to pay the bills. The fall of bitcoin value, combined with high spot energy prices and increased mining difficulty, has squeezed miner profits.

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