Hemi, the project that is building a programmable layer on Bitcoin, successfully closed a growth round of $15M, raising its total capital to $30M. This new financing was led by YZi Labs (formerly Binance Labs), Republic Digital, and HyperChain Capital, with participation from funds like Breyer Capital, Crypto.com, DNA Fund, Quantstamp, and others
Purpose of the financing
The funds will be used to expand the Hemi ecosystem by building a network that combines the established security of Bitcoin with the flexibility of Ethereum smart contracts. The core of the solution is the Hemi Virtual Machine (hVM), which allows for the incorporation of a full Bitcoin node within the Ethereum Virtual Machine (EVM)
Why is it relevant?
A bridge between Bitcoin and Ethereum
Thanks to the hVM, developers can:
Reuse tools and expertise from Ethereum to create applications on Bitcoin.
Execute DeFi operations on Bitcoin without sacrificing its robust security
A growing ecosystem
Hemi already has over 100,000 verified users, a community of more than 400,000 people, and over 70 integrations and partnerships (e.g., Sushi, LayerZero, and MetaMask)
Token generation event (TGE)
Hemi is preparing for the launch of its token (HEMI), with a total supply of 10 billion tokens. An airdrop has already been launched (scheduled for May 2025) and the pre-sale, aimed at incentivizing liquidity, backing, and listings on major exchanges
Key implications
Technical innovation: Hemi could redefine what is possible on Bitcoin by enabling DeFi applications and native smart contracts.
Disruptive potential: By allowing Bitcoin to be programmable without compromising its security, a new category of infrastructure called 'supernetwork' is opened, merging the strengths of Bitcoin and Ethereum
Visibility and credibility: The presence of prominent investors reinforces the project's viability.