Fundraising activity witnessed significant changes in July. RootData shows 113 public crypto venture capital investments, a 12% increase from the 99 investments in June. The total investment value exceeded $1 billion, significantly surpassing June’s $735 million. Venture capital activity is often used to gauge major investors‘ interest in the crypto market. Recent data continues to show a positive growth trend year-over-year.
Growing Interest in Crypto Ventures
As previously mentioned, public crypto venture capital projects increased by 12% from the previous month. This makes July the third highest month for crypto funding rounds this year, following March and May with 190 and 155 rounds, respectively. The total amount raised in July was $1.01 billion, reflecting a 26.5% increase compared to the $735 million raised in June 2024.
The increase in funding volume reflects strong confidence in the crypto sector despite economic uncertainties. Additionally, the way funds are spread across different sectors is changing, indicating new priorities and trends in the industry. The blockchain infrastructure sector, including Layer-1 and Layer-2 solutions, secured nearly 20% of total investments in July, followed by DeFi at 5.8%. CeFi saw the lowest level at approximately 2.2%. It is important to note that these figures do not include merger and acquisition deals.
Details on the Subject
The most notable event in July was Iris Energy’s raising of $413 million through stock offerings. The company also secured $257 million in Q1 and an additional $44.8 million between March 31 and May 15. These funds will support the company’s growth and expansion plans following the Bitcoin halving process, which affects mining profitability.
Following Iris, Block Mining secured a $92.5 million M&A deal. Riot Platforms acquired a Kentucky-based Bitcoin mining company for $18.5 million in cash and $74 million in Riot shares. Block Mining could earn up to an additional $32.5 million by adding power capacity by 2025. This deal increases Riot’s hash rate, expands its geographical reach, and provides access to new energy markets. Block Mining CEO and Co-Founder Michael Stoltzner shared the following statements on the matter:
“We are excited to use our collective strengths and expertise to build Bitcoin-focused data centers that will position us at the forefront of the industry.”
