ConsenSys Acquires Asteroid Mining Company, Plans to Add ‘Deep Space Capabilities’

In another major transaction involving the crypto industry, blockchain software technology firm ConsenSys Inc. has acquired American asteroid mining company Planetary Resources, Inc., as confirmed in the statement published on the Planetary Resources official website. 

Founded in 2009 and formerly known as Arkyd Astronautics, Planetary Resources is engaged in the exploration, extracting and refining of resources from asteroids. The company has over 30 investors and has raised more than $50 million in investments, also sending two satellites into orbit over the last six months.

According to ConsenSys, they’ve acquired Planetary Resources in order to bring ‘deep space capabilities’ into their system. As Joe Lubin, Planetary Resources founder stated, democratizing and decentralizing space endeavors in order to “unlock untapped human potential” has been their huge belief, which they’re looking to accomplish through collaboration with ConsenSys.

As noted by Planetary Resources’ Counsel Brian Israel, Ethereum’s smart contract functionality is a natural solution for private ordering and commerce in space, in which “a diverse range of actors from a growing number of countries must coordinate and transact.”

In another deal insuring a further expansion of ConsenSys, back in July they signed a Memorandum of Understanding (MoU) with China’s Xiongan New Area government in order to bring blockchain to the “smart city.” According to the signed agreement, ConsenSys will advise the Xiongan government on blockchain and software solutions in order to establish a “next generation smart city and leading blockchain innovation hub.”