Spondoolies-Tech designs and sells custom ASIC miners for bitcoin mining, emphasizing transistor-level chip design to reduce power consumption and cost. The company is targeting releases of a 28nm ASIC and two custom 16nm ASICs in the second half of 2015 and aims to hit efficiency targets of 0.05 W/GHs and $0.03/GHs by mid‑2015. Management says it operates a limited in-house mining operation but increasingly sells to enterprise customers, with less than 20% of sales direct to consumers. The firm plans to expand through international partners and a franchise-style guidebook for third-party mining facilities rather than actively operating large mines itself. Spondoolies-Tech has positioned its roadmap and product development to compete with larger rivals such as BitFury.

Total raised

$5M

Funding rounds

1

Latest round

Series B

Latest activity

Oct 2014