Hemi offers a programmability layer for Bitcoin via the Hemi Virtual Machine (hVM), a full Bitcoin node embedded inside an Ethereum Virtual Machine that enables DeFi, restaking, and cross-chain composability. The protocol positions itself as a supernetwork that fuses Bitcoin's security with Ethereum-style developer flexibility and supports cross-chain 'Tunnels' for interoperability. Hemi is preparing for a token generation event (TGE) and has recently unveiled $HEMI tokenomics to support that launch. The company reports over $1.2 billion in total value locked on its network, more than 100,000 verified users, and a community exceeding 400,000 members. Hemi is backed by a network of over 70 ecosystem partners, including Sushi, LayerZero, MetaMask, and Redstone, and is led by co-founders Jeff Garzik, Maxwell Sanchez, and Matthew Roszak. The recent funding will be used to accelerate ecosystem growth and further enable Bitcoin-based decentralized finance. Hemi Labs is developing the Hemi Network, a modular blockchain powered by Bitcoin and Ethereum that aims to unlock new programmability and cross-chain capabilities. Core components include the Hemi Virtual Machine (hVM) that embeds a full Bitcoin node within an EVM, the Hemi Bitcoin Kit (hBK) to enable Bitcoin-native smart contract access, Proof-of-Proof (PoP) consensus for Bitcoin-derived security, and Tunnels for trustless cross-chain portability. The platform also emphasizes asset programmability features such as on-chain routing, time-locks, password protection, and gasless transfers. Hemi’s incentivized testnet is live and the team is targeting a mainnet launch in Q4 2024. The company announced a $15 million investment round to develop and launch the network. Founders named in the release are Jeff Garzik and Max Sanchez; the announcement was issued from Chicago.

Total raised

$30M

Funding rounds

2

Latest round

Equity

Latest activity

Aug 2025