On December 6, 2021, San Mateo, California-based cryptocurrency investment firm Earnity partnered with BitNile, closing $15 million in stocks. Earnity was established by Dan Schatt and Domenic Carosa, carrying the objective to build a marketplace that allows crypto users to learn, earn, collect, and gift tokens and portfolios of various digital assets. BitNile is a subsidiary of Ault Global Holdings, Inc. that handles the publicly traded parent company’s Bitcoin mining and data center operations side.
Through the Series A investment with participation from blockchain fund NGC Ventures and Australian Securities Exchange-listed company Thorney, BitNile has teamed up with Earnity to develop and co-promote portfolios of non-fungible tokens and other decentralized financial products and protocols. After raising over $20 million in 2021, Earnity, which is now working with BitNile, is continuing the pursuit of its ambition to democratize access to the widest array of cryptocurrency assets in a safe, educational, and community-centered platform to users worldwide.
Christopher Wu, BitNile’s executive vice president for alternative investments, will be joining Earnity’s board of directors. Ault founder Milton Ault regards Earnity as a transformational investment for BitNile as the company gets to deliver the benefits of DeFi to global users and join the foundation of the crypto revolution while keeping its expertise in mining Bitcoin. Earnity founders Domenic Carosa and Dan Schatt share the excitement over the partnership, especially due to BitNile sharing their vision of global access to crypto in a secure, uncomplicated, and attractive manner. In addition, the executives believe the vision is aligned with crypto’s premise of nurturing peer-to-peer interconnections.
Earnity is slated to launch its beta platform early in 2022. The cryptocurrency investment company, partnering with BitNile, is welcoming a much wider audience to the world of digital finance. All while enhancing the usability of cryptocurrency and digital assets. They are not allowing global users to miss out on its benefits.