Tagged: bitcoin

Stealth Bitcoin wallet startup raises $50,000 in seed equity


Bitcoin trading on Mt. GoxWhile Bitcoin‘s value increased by 148% over the last 30 days and by 800% over the last 6 months on Mt.Gox according to bitcoinity.org, a statup company called Bitwal is working toward making the virtual currency widely accepted in the real world.

The company, which successfully completed a $50,000 equity offering with one investor, is working toward launching a debit card for Bitcoin. The card is linked to an account where users can load their Bitcoins. Once loaded the card can be scanned to transfer payments, used as a debit card to withdraw money at ATMs, or processed by non-Bitwal participating retailers. It is unclear however, how the company will deal with Bitcoin’s recent wild valuation swings which may affect its broad acceptance. Hopefully the card will be able to be loaded on Coin as well.

The company, headquartered in San Francisco CA, was founded in August 2013. The executive team includes Carl Hilsz, Brian Santos, and Lowell Ness.

Offering recap:
Status: Closed
Company: Bitwal
Industry: Other
Amount offered: $50,000
Amount placed: $50,000
First Sale: 11/22/13

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BitCoin mining chip designer closes $641,700 equity financing round


Late filer HashFast reported raising $641,700 in equity in late June from seven investors. This is the first time the company is disclosing tapping into the US private placement market.

HashFast is a designer of application-specific integrated circuit (ASIC). Its particular use is for the mining of the digital currency known as BitCoin. The fabless semiconductor company developed the Golden Nonce microprocessor which performs more than 400 Ghash per second. BitCoin uses a hash algorithm to generate verifiable random numbers in a way that requires a predictable amount of CPU effort. A user generating a hash with a value less than the current target solves a block (data is permanently recorded in the BitCoin network through files called blocks) and wins the user coins.

HashFast, headquartered in San Jose CA, was founded in 2013 by Edward de Castro and Simon Barber. The executive team includes John Skrodenis and Peter Smith. The company elected not to disclose its revenues though according to a post on the Genesis Block, HashFast would have sold around $3 million worth of BitCoin mining hardware.

Offering recap:
Status: Closed
Company: HashFast
Amount offered: $641,643
Amount sold: $641,643
First sale: 06/28/13