- Multi-millionaire businessman John Warren is currently mining bitcoin through his new business venture.
- Former South Carolina Governor candidate founded GEM Mining with four other partners.
- Warren reportedly said his company has raised over $200 million in capital from financial institutions, having mined over 400 BTC in the past nine months.
Former South Carolina Governor candidate John Warren is currently mining bitcoin through a new business venture he has formed with four other founding partners, GEM Mining, according to a report by Related press.
Warren told AP that he and his partners “see huge opportunities” with their mining relationships, adding that he expects the Greenville-based company to become the biggest of its kind in South Carolina and soon among the top few in the country.
“Warren said GEM has raised over $200 million in institutional capital from banks, hedge funds, endowments and pension funds to operate more than 32,000 Bitcoin miners,” according to the report.
The company says it has over 9,000 fully operational machines and has mined over 400 bitcoins in the past nine months. According to the report, GEM has been profitable since February and its November sales amounted to $7.8 million, with its operations being 92% carbon neutral.
GEM is Warren’s first business venture after the sale of mortgage firm Lima One Capital in 2019. The entrepreneur made headlines in 2018 when he was at work. millions his own money to finance his Governor of South Carolina campaign, which sought to depose Governor Henry McMaster. Warren finished second in the GOP’s four-way primaries, an unexpected result as a newcomer.
Although he entered the race just a few months before the primary race, Warren secured the endorsements of two of these riders before narrowly losing to McMaster in a race match, the report said. controversial,” the report said.
https://bitcoinmagazine.com/business/former-sc-gov-candidate-is-mining-bitcoin Former SC Government Candidate Is Mining Bitcoin