Kevin O’Leary-Backed Bitzero Raises $25M to Scale Bitcoin Mining Infrastructure

Bitzero, a crypto mining company backed by Shark Tank’s Kevin O’Leary, has raised $25 million to grow its mining and data center operations across North America and Europe.

The company plans to use part of the funds to buy 2,900 Bitmain S21 Pro miners, aiming to deploy them in the next four to six months. Once live, the new hardware is expected to generate around $10 million in extra annual revenue, helping the company lower its already competitive breakeven point.

Here’s what you should know.

Why Bitzero Owns Its Mining Infrastructure

Unlike most miners who rent third-party facilities, Bitzero owns its land, energy resources, and equipment. This gives it better control over energy costs and long-term profitability.

“Deployment of this high-efficiency hardware will be completed within four to six months,” the company said in a statement, calling it a key step in extending its market lead.

The company operates in Norway, Finland, and North Dakota, where colder climates help reduce energy usage. Combined with low-carbon, renewable energy sources, Bitzero’s strategy is built around long-term sustainability and profit, not short-term gains.

Green Mining, Built for More Than Just Bitcoin

Bitzero is positioning itself as a clean infrastructure provider for AI, cloud computing, and enterprise workloads, not just Bitcoin mining.

Led by President and CEO Mohammed Bakhashwain, the firm is currently building four large-scale data centers across its existing locations. These are designed to handle high-performance computing with minimal environmental impact.

“The world doesn’t just need more data centers, it needs better ones,” Bakhashwain said. “Our mission is simple: deliver high-performance computing power with the lowest environmental impact possible.”

O’Leary Stands Behind Bitcoin, Criticizes Ethereum

Kevin O’Leary has long supported the crypto industry, but when it comes to preference, he’s clear: Bitcoin over Ethereum.

In an interview with CoinDesk, O’Leary said Bitcoin is still the go-to asset for anyone looking for exposure to crypto volatility. “There’s a lot of people that say, ‘I don’t need anything else … I’ll just buy bitcoin.’ And they haven’t been wrong,” he said.

He was less optimistic about Ethereum, calling it slow and inefficient. 

“Goodness, ETH is slow,” he added. “And the more transactions get piled on it, it doesn’t get any better.”

With funding secured, high-efficiency miners on the way, and clean infrastructure at the center of its strategy, Bitzero is positioning itself for the next phase of crypto and AI-driven demand.