The startup develops a platform for crypto mining facilities that utilizes stranded renewable energy sources to power data centers, producing hashing power for digital asset mining. This approach enables issuers to mitigate counterparty risk in transactions while enhancing the efficiency and sustainability of the mining process.
Funding
$27.2M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Bitcoin mining operations face challenges related to energy costs, market volatility, and the need for efficient risk management tools. Miners often struggle to secure stable revenue streams and attract investors due to the complexities and risks associated with the bitcoin mining market. Traditional commodity markets lack adequate infrastructure to support the unique characteristics of hashing power as a commodity.
Solution
Pow.re provides a platform that enables the financialization of hashing power, offering tools for miners to hedge risks, attract investors, and optimize their operations. The company operates high-density computation facilities powered by 100% renewable energy sources, converting stranded energy into sustainable hashrate generation. Pow.re Markets offers a clearing and settlement service for physically delivered hashing power contracts, mitigating counterparty risk and enabling speculators to participate in the hashing power market. Additionally, Pow.re Metrics provides real-time audits and payout verification for mining pools, ensuring transparency and accuracy.
Target Audience
The primary target audience includes bitcoin miners seeking to hedge risks and optimize revenue, investors looking for exposure to bitcoin mining without the operational complexities, and market venues aiming to expand their trading portfolio with hashrate derivatives.
Features
- Hashrate derivatives for hedging against market volatility, mining difficulty, and energy costs
- Physical and cash settlement options for hashrate contracts
- Real-time audits and payout verification for mining pools
- High-density computation facilities powered by 100% renewable energy
- Self-managed bitcoin mining sites in Canada and Paraguay
- API integration for market venues to list hashrate derivatives
- Automated hashrate management and flexible payout options
- Enterprise-grade security with AWS cloud infrastructure, including end-to-end encryption and DDoS protection