Hockessin, DE -- (ReleaseWire) -- 05/31/2018 --New Startup Coin-Energy, Inc announced today the launch of its $12 million equity crowdfunding offering to be executed pursuant to Regulation D for U.S. persons and Regulation S for non U.S. persons.
The cryptocurrency mining industry is one of the fastest tech growth sectors worldwide. With more than 1,500 crypto tokens worldwide, the growth in blockchain technologies will continue to drive demand for mining and for innovation in mining processes.
Cryptocurrencies utilize a decentralized algorithmic process to validate transactions which are processed by miners. Miners are responsible for grouping unconfirmed transactions into new blocks and adding them to the global ledger (the 'blockchain'). They provide the necessary computing power to secure a blockchain by computing vast numbers of hashes to find a valid block. Each valid block added by a miner to the blockchain generates a reward for the miner and makes it more difficult for an attacker to reorganize the ledger and double-spend already confirmed transactions.
The cryptocurrency mining business model is highly reliant on the supply of energy and pricing. Availability and price of electricity change constantly, based upon competition, regulation and weather. It is important to have mining operations where electricity is the cheapest and most abundant. Geographically, this can vary widely and be costly for fixed mining operations.
Coin-Energy has developed a decentralized Hosting Mobile Miner Unit (HMMU) system (U.S. Patent Pending), which is designed to withstand technology disruptions, reduce fixed site costs and changes in government regulations. HMMUs are modified sea containers, which can be moved directly to the location of the best electricity supply and price. Coin-Energy has negotiated several energy supply agreements which are favorable to mining and specifically suitable to the use of portable HMMUs.
Coin-Energy is at the forefront of low cost, modular and innovative solutions for mining and has assembled a strong management team with previous exits to lead this venture.
Coin-Energy is a technology services company providing patent pending computational processing services to the emerging Blockchain industry through its Hosted Mobile Mining Units (HMMUs) and green energy electricity contracts.
Coin-Energy was established in HOCKESSIN, Delaware in 2018 and is led by:
Sten Sorensen, an entrepreneur with more than 25 years of experience as CEO in the renewable energy sector,off-site modular construction, exhibition and security industries
Miles Paschini, a patented inventor and former Founder & CEO of EWI Holdings (acquired by Blackhawk Networks)
Robert (Bob) Emmott, Lead Engineer -- Former EVP & Chief Engineer TransAlta
Seth Siegler, CTO, an experienced startup Founder with 2 exits (Curb Call Technologies and Robot Workshop) who has been involved with more than 100 projects, including multiple Blockchain projects since 2014.
Birgitte Bruhn, CFO -- 20 years experience managing corporate finance; 15 years at KPMG.