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Staking platform Kiln has attracted investments of $17 million.

Market and Events: Staking platform Kiln has attracted investments of $17 million.

Ethereum mining platform Kiln has raised $17 million in investment, marking a significant milestone for the company.

The funding round was led by 1kx, with participation from IOSG, #Crypto.com, #Wintermute Ventures, KXVC and #LBank.

This latest funding round follows a successful Series A round in November 2022 when Kiln raised $17.6 million with support from #Kraken Ventures, Sparkle Ventures, #GSR and other notable funds.

In an official press release, Kiln CEO and co-founder Laszlo Szabo stated the company's commitment to democratizing value in the digital asset ecosystem. By providing millions of users with easy access to rewards through its platform, Kiln aims to empower and encourage widespread participation in Ethereum staking.

With the funds raised, Kiln plans to expand its presence in the Asia-Pacific region, a strategic move to meet the growing demand for steaking. As part of this expansion, Kiln will open a new office in #Singapore in the first quarter of 2024.

Kiln's success is attributed to its extensive partner network, which includes well-known companies and projects such as #Ledger, Flowdesk, Liquid Collective, #SwissBorg and #Bitpanda. By partnering with these industry leaders, Kiln ensures that its platform supports over 30 networks, providing users with a variety of mining opportunities.

The Ethereum ecosystem continues to attract attention

Recently, developers launched the Dencun hardfork on the Goerli test network. This update is an important step towards the final launch of the update on the main network, which is expected to take place at the end of the first quarter of 2024. The Ethereum community is eagerly awaiting the rollout of this update, which promises to expand the capabilities of the network and further strengthen its position as a leading blockchain platform.

Similarly, Renzo, a startup specializing in restacking-centric solutions, recently received a $3.2 million investment. This funding will allow Renzo to continue developing its solutions and contribute to the growth and development of the entire ecosystem.

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