Yesterday was the launch of Coinmine.
What is Coinmine?
Brian Norgard, who introduced me to the product, the company and Farbood the founder, says:
It is quite surreal that my first investment, Coinmine, launches today. Coinmine is the world’s first plug-and-play cryptocurrency mining device. It is sleek (Apple-esque, according to Fortune), easy to use, and consumes less energy than a PlayStation — powered by Coinmine’s own operating system and elegant mobile app.
“There are a lot of parallels I draw from Coinmine and Tinder,” Norgard said. “Online dating was very complicated six years ago. It was an arduous process and so is mining. You have to be pretty sophisticated, but this takes it down to the studs. A normal consumer with no technical knowledge can get into the crypto game.”
Coinmine helps anyone turn electricity into money. You can be your own FED, you can save money, learn about crypto and even trade, with a monthly electricity spend of $5. We think it’s a perfect gift to anyone interested in money and technology.
Farbood and his team, which includes co-founder Justin Lambert (designer of Pebble Watch) built a new OS for mining. A new operating system designed to make crypto easy. Built from the ground up to adapt to the future of crypto.
Get crypto for powering the networks you love. Participate in Proof-of-Work currency mining, and control the whole process from your phone. Switch which currency you’re mining whenever you like or add additional Coinmine Ones to your account.
Now that the product is released and orders are coming in (shipping in 3-5 weeks), I will give a little bit of the backstory.
In March of last year I met Brian Norgard as he walked into Stocktoberfest and though we had never actually met, we knew each other pretty well from our work backgrounds and Twitter.
He showed me an app that he was helping both with an investment and some product and design advice called Coinmine and the way it would work with a personal crypto mining machine that was being built for the home.
Over the summer, while I was in Italy, I spoke with Farbood (the founder) and got the full pitch. I was sold. Gary,Tom and I met with Farbood over the following months and we eventually led a seed round with some other great investors including Coinbase, and Coinbase’s chief technology officer Balaji Srinivasan
Coinmine has raised a total of $2 million.
Here is what Fortune had to say and another take on the launch and product from Coindesk.
You can order one, two or ten right here today and get it in time for Christmas.