JAN3 New Company Founded By Samson Mow Is Assisting In The Construction Of Bitcoin City In El Salvador

Samson Mow, a Bitcoin entrepreneur, has started a new company called JAN3, which has purportedly raised $21 million in finance at a $100 million value.

On Thursday, Samson Mow, the former chief strategy officer of Blockstream and the founder of Pixelmatic, announced the launch of JAN3, a new firm dedicated to increasing Bitcoin adoption.

JAN3 has already signed a memorandum of understanding to aid in the development of digital infrastructure in El Salvador, according to the Chinese-Canadian Bitcoin entrepreneur.

“It’s a general MOU that says we’ll work together to build digital infrastructure for the country and for Bitcoin City.”

Mow added that making the decision for JAN3 to work with El Salvador was an easy choice

“I just set up my company and I said ‘do you want to work together?’ and they said ‘sure.’”

Mow and his new firm will work alongside El Salvador’s President, Nayib Bukele, and its government to assist in the establishment of Bitcoin City, a development that will reportedly use geothermal power from nearby volcanoes to power Bitcoin mining as well as the city‘s infrastructure.

According JAN3’s recently established Twitter account, which boasts a rapidly growing follower count of 3,300, the company has reportedly raised $21 million in funding at a valuation of $100 million.

Alistair Milne, CIO of Atlanta Digital Currency Fund, Chun Wang, co-founder of crypto mining business F2Pool, and El Zonte Capital, a new investment fund created by notable Bitcoin bull Max Keiser and his wife, Stacy Herbert, led the funding round.

The news comes after Mow announced at the Bitcoin 2022 Conference that two additional jurisdictions — the Caribbean island of Roatán and Madeira, a Portuguese autonomous unit — would be accepting Bitcoin as legal cash. Mow also mentioned Mexico, however the country is still considering the idea.

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