Gem Mining is a Bitcoin mining company launched by former U.S. Marine and 2018 South Carolina gubernatorial candidate John Warren with four partners. The Greenville, S.C.-based firm operates and owns large fleets of ASIC miners and positions itself as an institutional-grade Bitcoin mining operator. It currently has over 8,000 miners in operation producing roughly five bitcoins per day and expects to bring nearly 15,000 additional miners online over the next four months. Overall, Gem owns more than 32,000 machines that are either operational or slated for near-term delivery and says those will not require additional capital to fully deploy. The company reports having mined 431 bitcoins over the past nine months, became profitable in February, and recorded $7.8 million in revenue with adjusted EBITDA exceeding $6.2 million in November. Gem highlights that its operations are approximately 92% carbon neutral and that it has partnered with industry-leading companies to host its equipment.

Total raised

$200M

Funding rounds

1

Latest round

Equity

Latest activity

Dec 2021