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SaaS Interviews with CEOs, Startups, Founders

1180 How He's Making $30m/Quarter Mining Ethereum Blockchain

SaaS Interviews with CEOs, Startups, Founders

Nathan Latka

Ceo, Entrepreneurs, Founders, Software, Business, Entrepreneurship, Saas, Startups

4.6683 Ratings

🗓️ 17 October 2018

⏱️ 24 minutes

🧾️ Download transcript

Summary

Harry has extensive contacts and experience in Canada's capital markets. He served as Managing Director of Macquarie Capital Markets Canada Ltd. from 1985 to 2015 and as Managing Director of Espresso Capital from 2015 to 2017, investing in and advising startups in the technology and natural resources sectors. A cryptocurrency evangelist since 2013, Harry is the founding CEO at HIVE and is responsible for the company's overall vision.

Transcript

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0:00.0

Hive blockchain, Harry, he says, have skin in your game, own a piece of yourself.

0:04.0

He got into this game back when he got exposure back in 2013.

0:07.5

Since obviously, as blockchain has taken off, he's been positioned perfectly, going public

0:12.0

in Canada, raising 17 million bucks on day one, then going and doing another 30 million when

0:18.0

underwriters took a big risk.

0:19.4

He then grew and really turned on monetization

0:21.8

in Q4 back in 2017, where they did have a couple million bucks in revenue. Now in Q1 here of

0:28.0

2018, they're on a $30 million run rate as they mine and build up a very efficient mining

0:33.4

operation to grow their percentage of essentially the network cash and they're basically competing

0:38.3

to validate and transact all these tokens and validate them on the blockchain every single

0:42.8

day specifically on the Ethereum blockchain.

0:46.0

This is the top entrepreneurs podcast where founders share how they started their companies

0:52.1

and got filthy rich or crash and burn.

0:57.4

Each episode features revenue numbers, customer counts, and other insider information that creates business news headlines.

1:06.7

We went from a couple of hundred thousand dollars to $2.7 million.

1:10.0

I had no money when I started the company.

1:12.0

It was $160 million, which is the size of any IPOs.

1:15.4

We're a bit strapped.

1:16.3

We have like 22,000 customers.

1:20.2

With over 5 million downloads in a very short amount of time,

1:24.4

major outlets like Inc are calling us the fastest growing business show on iTunes.

1:29.4

I'm your host, Nathan Latka, and here's today's episode.

...

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