# Coinmine

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/coinmine

- Industry: Consumer Products
- Headquarters: Los Angeles, US
- Website: www.coinmine.com
- Total disclosed funding: $4.5M
- Latest round: Seed (Aug 15, 2019)
- Investors on record: 5

## About

Coinmine, Inc. is a cryptocurrency mining solutions provider, dedicated to simplifying the mining process for users through innovative hardware and user-friendly software, making cryptocurrency accessible to a broader audience.Founded in 2018 and headquartered in Los Angeles, US, Coinmine, Inc. focuses on offering easy-to-use cryptocurrency mining solutions. The company raised USD 2.5 mn in Seed funding on August 15, 2019, led by M13 with participation from Canaan Partners, Republic, and gumi Ventures. The founder, Farbood Nivi, has a background in tech entrepreneurship, enhancing the company's innovative approach to mining.Coinmine specializes in developing cryptocurrency mining hardware and software solutions, notably the Coinmine One, an all-in-one mining device that allows users to mine various cryptocurrencies with minimal technical knowledge. The company also provides software applications for effective management of mining operations, primarily targeting North American and European markets, focusing on tech-savvy consumers and cryptocurrency enthusiasts.Coinmine generates revenue from direct sales of its Coinmine One device and related software services, with transactions occurring through B2C sales channels. The revenue model includes potential recurring income from software services, aiming to enhance user experience and accessibility in cryptocurrency mining.With the recent Seed funding of USD 2.5 mn, Coinmine, Inc. plans to enhance its product offerings and expand into new geographic markets, including Asia and South America, by 2023. Future product developments are underway, though specific release dates have not been disclosed, aiming to further democratize cryptocurrency mining.

## Funding rounds

- Seed, Aug 15, 2019, $2.5M — Canaan Partners, gumi ventures, M13, Republic
- Seed, Nov 15, 2018, $2M — Republic, Visary Capital

## Investors

- Republic — Seed
- Visary Capital (https://capitalatlas.ai/funds/visary-capital) — Seed
- Canaan Partners (https://capitalatlas.ai/funds/canaan-partners) — Seed
- gumi ventures (https://capitalatlas.ai/funds/gumi-ventures) — Seed
- M13 (https://capitalatlas.ai/funds/m13) — Seed