Prime Blockchain, a leading provider of digital asset mining and infrastructure, has appointed former Goldman Sachs vice president Gaurav Budhrani as chief executive officer (CEO). Alan Konevsky, former Managing Director of Goldman Sachs, has been appointed Chief Legal Officer (CLO).
PrimeBlock expects substantial mining gains
In 2021, the United States’ share of the Bitcoin hash rate (BTC / USD) doubled to 35.4%. PrimeBlock is committed to substantial growth in its mining operations across and beyond North America. The company’s current hash capacity is around 1000 PH / s, which equates to around 0.6% of Bitcoin’s total global hash rate.
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To provide increased infrastructure support for its growing bitcoin mining business, PrimeBlock plans to increase investments in next-generation mining hardware, modular data center technology, and captive renewable energy. The company’s mission is to lead the way for sustainable industry growth while supporting communities in energy-rich areas.
Gaurav has completed over $ 300 billion in transactions
New PrimeBlock CEO Gaurav Budhrani recently led Crypto Investment Banking coverage at Goldman Sachs. It has completed more than $ 300 billion in transactions in cryptocurrencies, software, semiconductors and energy, including Coinbase’s direct listing, which was worth $ 98 billion. He said:
I’m incredibly excited to join PrimeBlock and partner with leaders in the bitcoin mining and crypto ecosystem. It’s an exciting time for the bitcoin mining industry, as we’ve seen it grow more than four times its size in 2021 to well over $ 20 billion annually. We have a unique opportunity to drive continued growth and innovation at every layer of the stack, building efficient modular data center containers, partnering with key vendors for hardware and power infrastructure, developing adjacent software applications and laying the foundation for captive renewable energy production. on our sites.
Alan Konevsky was an executive at Mastercard, Goldman Sachs
PrimeBlock’s new CLO, Alan Konevsky, sits on the Boston Security Token Exchange Board of Directors. He has held executive positions at Mastercard, Goldman Sachs and Sullivan & Cromwell in New York and London. He commented:
As the financial system enters the age-old adoption phase of digital assets and infrastructure, PrimeBlock is uniquely positioned to leverage its mining and hosting footprint to drive responsible growth and innovation in the digital ecosystem. I am delighted to join the formidable leadership team and founders of PrimeBlock to lead this journey using our strong asset base, vision and shared values.
Chandler Song, co-founder of PrimeBlock, commented:
I am delighted that Gaurav and Alan are joining us as CEO and CLO respectively. Both, in their respective leadership roles, bring a solid background and unique perspectives on crypto, capital markets and the ever-changing regulatory landscape. Additionally, Gaurav and Alan bring motivational motivation that is closely aligned with PrimeBlock’s core values and culture.
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