Solana on-chain mining protocol Ore establishes Regolith Labs and completes a $3 million seed round financing.

News from TechFlow in the deep tide, Solana on-chain mining protocol Ore announced the establishment of Regolith Labs on X platform and completed a $3 million seed round financing. This round of financing was led by Foundation Capital, with participation from Colosseum, Solana Ventures, B+J Studios, Dead King Society, and 3KVC, among others. The goal of launching Regolith Labs is to continue pushing the boundaries of proof-of-work mining, accelerate the development of the ORE ecosystem, and introduce new proof-of-work mining primitives and liquidity networks on Solana.

ORE was launched in April 2024 as an experimental hackathon project aimed at reimagining proof-of-work mining for the next generation of cryptocurrency users.