Coinmine Announces $2.5 Million Seed Round

Today, we’re excited to announce the addition of M13, Gumi Crypto, Republic Labs, Canaan Labs, and Shervin Pishevar to our incredible group of Coinmine supporters and investors. This Seed round of $2.5M, led by M13, will accelerate our mission to make it easy for everyone to earn crypto for powering the crypto revolution.

Customers love their Coinmine Ones. And we’re excited to continue expanding the cryptocurrencies available, shipping over-the-air updates with improvements like increased hash power and energy efficiency, and adding new services like earning interest on your crypto.

Bitcoin, and select other protocols are the beginning of a platform shift that will change not only how the internet works, but also finance, governance, business and potentially much more. The computation needs of a digital world will continue to grow, and making it easy to decentralize that computation will help realize the promise of Bitcoin and a world where information and value aren’t controlled by the few.

Our mission is to continue to improve the products we sell to help support the mission of Bitcoin and other decentralized information protocols.

With over-the-air updates to our operating system, MineOS, in just the past couple months we...

  • Added Bitcoin to the Coinmine One
  • Added Grin to the Coinmine One
  • Increased Grin hashrate by 80%
  • Reduced energy consumption by 30%

We believe this strategy is paying off. We’ve seen return rates that are 1/10th of industry average, over 10% of customers purchasing two or more devices and 10% of customers have already purchased again.

We’re excited to work with the team at M13 not only because of their experience in cloud computing at Digital Ocean, but also because, like all our new and existing investors, they have a daring visions of the future and want to support the teams that are building that future.

We wouldn’t be here today with our customers or our early supporters and investors like Howard Lindzon, Brian Norgrad, Anthony Pompliano, Michael Arrington, Balaji Srinivasan, Dustin Rosen, Penelope Linge, Tom McInernney, Ryan Hoover, Jeff Morris, Niv Dror, Robert Leshner, Andrew Rudmann, and Coinbase Ventures.