According to BlockBeats, on September 14, the Solana on-chain mining project Ore announced on social media that it had established Regolith Labs and completed a $3 million seed round of financing, led by Foundation Capital, with participation from Colosseum, Solana Ventures, B+J Studios, Dead King Society, and 3KVC.

Regolith Labs aims to accelerate the growth of the ORE ecosystem, bringing millions of new users into the cryptocurrency space through new proof-of-work mining primitives and liquidity networks on Solana.