According to TechFlow, Solana’s on-chain mining protocol Ore announced on the X platform that it has 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. The goal of launching Regolith Labs is to continue to push the boundaries of proof-of-work mining and accelerate the development of the ORE ecosystem through new proof-of-work mining primitives and liquidity networks on Solana.
Launched in April 2024, ORE is an experimental hackathon project that aims to reimagine proof-of-work mining for a new generation of cryptocurrency users.
