Founded in 2018 by Farbood Nivi and Morvaread Farbood, Coinmine aimed to make participating in the crypto economy easier for the average person. The company's flagship product, the "Coinmine One," was a plug-and-play device designed to mine various cryptocurrencies and run a Bitcoin Lightning Network node with minimal technical knowledge required. It operated on a proprietary operating system called MineOS. Despite raising significant venture capital from investors like Coinbase Ventures and Andreessen Horowitz, the company announced it was shutting down operations in November 2019, citing challenges with the economics of at-home crypto mining and market conditions.

Founded in

United States