Felipe Pinto
Colorado Springs, CO (USA)
Role(s):
C-Level Executive (CEO, CFO, etc.)
Bit 49
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Startup
Location:
Colorado Springs
Industry:
Technology/Web
Year Founded:
2017
Number Employees:
1-10 people
Business Stage:
Growth (not profitable)
Entity Type:
Limited Liability Company
Description:
Who We Are:
Technology and Finance professionals with a vision to disrupt crypto mining. We are also Stanford MBA, Harvard JD, and Stanford PhD in comp sci alums, leveraging years of experience, heavy traction, and customer insight to digitize the crypto mining space while reducing environmental pollution.
Traction:
We have raised nearly $1,000,000.00 million and are looking to raise $1,000,000.00 million more!
We believe that transparency, trust, and service drive results in this industry. Your ability to achieve risk mitigation, profitability and liquidity are the fuel of our engine. These values are at the core of what we do.
Founder’s Story:
We founded Bit 49 while Stanford MBA and PhD in computer science students (we’re now alums), trying to make affordable mining a reality for the little guy. After selling out faster than we could fulfill orders, we pivoted upstream to a more scalable managed-hosting approach. We’re now ready to take the industry by storm.
Problem:
Crypto miners are faced with profit-obliterating risk at every turn, stemming from perverse incentives to skim profit throughout the value chain. Fraud, incompetence, and low-tech offerings are the norm. So is environmental harm.
Solution:
We are on a mission to strip these perverse incentives out of the industry’s hands by digitizing crypto mining and leveraging smart contracts to ensure all profits go to customers -- neither of which has been done before. All without compromising on the environment.
Product:
Our product includes / will include the following features: (1) node / PDU-level wattage and performance measurement, monitoring and troubleshoot-ability; (2) in-house miner optimization and repairs, both at the chip level; (3) liquid mining instrument leveraging blockchain tech (happy to discuss in more detail); (4) modular infrastructure deployed to stabilize / make use of otherwise wasted energy, in a way that serves the environment. (5) enterprise-grade security.
Opportunity & Landscape: Crypto mining is an almost $10 billion industry, growing at 20% CAGR, with a highly fragmented landscape and largely unhappy customers.
Critical Differentiators: Our game plan results in several key differentiators:
NETWORK EFFECTS:
By being the first to launch a digitized offering and making it tradable, we can stand to create the thickest market for our product anywhere.
ENGINEERING AND INTELLECTUAL PROPERTY:
Our offering relies on high-tech infrastructure and high-tech software. We are intentionally creating a high bar.
SCARCE, LOW-COST ENERGY:
We seek to set up shop in some of the world’s lowest energy-cost and environmentally friendly environments.
Revenue Model:
Monthly recurring revenue for management-like services, at all-in, easy to understand pricing; upfront, one-time fees for miner procurement.
Fundraising:
Though we’ve been bootstrapped to date, are thinking about doing a pre-seed fundraising round of $500,000. The funds would be largely used for software engineering and down-payments for infrastructure acquisition.
The Team
Felipe Pinto, Co-founder and CEO: Stanford MBA / Harvard JD alum. Led Bit 49 through pivot and to profitability. Four years experience as a finance professional at Ford Motor Co.
Grant Ayers, Co-founder and CTO: Stanford PhD in computer science, Google engineer, security and hardware specialist, with experience writing crypto-mining optimization algorithms and publications on large-scale network optimization.