Ethereum mining company CoreWeave completes $221 million Series B funding at a $2 billion valuation, led by Magnetar Capital

ChainCatcher news, cloud service provider and Ethereum mining company CoreWeave announced the completion of a $221 million Series B funding round, led by Magnetar Capital, with participation from Nvidia, former GitHub CEO Nat Friedman, and former Apple executive Daniel Gross. Magnetar contributed $111 million, with the remaining investment shared among Nvidia, Friedman, and Gross. A spokesperson for Nvidia stated that this investment represents a "deepening" of its partnership with CoreWeave.

CoreWeave CEO Mike Intrator stated that this funding round gives CoreWeave a pre-money valuation of $2 billion, bringing the company's total funding to $371 million, which will be used to support CoreWeave's expansion of data centers in the U.S., with two new centers set to open this year. CoreWeave currently operates 5 data centers in North America. (source link)