June 26, 2020 ConsenSys and AMD announce joint venture for distributed computing infrastructure.

The blockchain services company, ConsenSys, and the semiconductor company, AMD, have announced a joint venture, named W3BCLOUD, aimed at providing parallelized and distributed computing infrastructure for blockchain networks. The new project has raised $20.5 million through a combination of funding from ConsenSys, AMD, and family offices based in the United Arab Emirates. W3BCLOUD will initially be focusing on supporting the Ethereum network and plans to scale its operations across multiple geographic areas throughout 2020.