ConsenSys and AMD joint venture W3BCLOUD raises $20 million to build Ethereum data centers

W3BCLOUD, a joint venture between Advanced Micro Devices (AMD) and ConsenSys, announced that it has completed its initial close of $20.5M in convertible notes. The joint venture aims to build out its first line of Ethereum data centers.

Why it matters:

• AMD’s computing and graphics segment, which includes graphic chip sales to data centers, jumped 36% to $1.28 billion in 2019. AMD’s entrance into building blockchain data centers specifically for Ethereum is a positive signal for the smart contract network.
• ConsenSys which operates Ethereum infrastructure providers like Infra and PegaSys is making a strategic play that will allow them to continue to expand their infrastructure product offerings.