AUSTIN, Texas, April 23, 2021 /PRNewswire/ -- Blockcap Inc. ("Blockcap"), one of the largest bitcoin mining and blockchain technology companies based in the United States, announced today that Jarvis Hollingsworth will serve as the newest member of its board of directors. The addition brings unparalleled legal and regulatory expertise to the rapidly growing company as it seeks to transform both Texas and the United States more broadly as a global leader in blockchain technology.
The move takes place as Blockcap seeks to increase its capacity for mining digital assets, including bitcoin. Since its founding last year, the company has deployed more than 12,000 fully operational mining machines and expects well over 40,000 to be online and working by next year. Moreover, since its founding, Blockcap has mined more than 1,600 bitcoin and approximately 544 during the first quarter of this year.
"We're thrilled to have Jarvis as a member of our growing team, not only because of his legal expertise and business acumen but also because of the demonstrated leadership that he will bring to our company as we grow," Feinstein said. "He has served in a variety of important leadership positions, including as a Captain in the U.S. Army, and we look forward to Jarvis assisting our company as we continue to drive innovation and growth for both Texas and the United States."
Hollingsworth, a graduate of the United States Military Academy at West Point, is a prominent attorney who has extensive public and private company board experience. He also currently serves as Chairman of the Board of Trustees of the Teacher Retirement System of Texas, a $185 billion-plus pension trust fund based in Austin. He joins a number of other notable experts on the Blockcap team, including Saifedean Ammous, a luminary in the blockchain industry and author of the groundbreaking book, The Bitcoin Standard.
In a statement, Hollingsworth expressed excitement over his new role, saying: "Blockcap is a pioneer in the blockchain industry and I am excited to help the company achieve its goal of becoming the leader in this critical industry. I am also excited to assist in Blockcap's mission to use digital asset technology to increase access to the financial system for more people here and around the world."
About Blockcap Blockcap, Inc. (the "Company" or "Blockcap") headquartered in Austin, Texas, was founded by blockchain industry veterans that have been in the space for nearly a decade. The Blockcap mining division operates one of the world's largest bitcoin mining operations, accounting for 0.7 percent of all the Bitcoin network transactions. In addition to mining operations, the company operates two other divisions - digital treasury assets and venture investments. Blockcap's mining fleet currently utilizes Core Scientific's best-in-class co-location mining facilities based in the United States.