The enterprise-scale mining company Alydian is the first “client” of the new Bitcoin business incubator promoted by the cryptocurrency exchange CoinLab.
Unlike the usual incubators, CoinLab won’t be providing capital or mentoring, but ideas for businesses and help during the recruitment of talented professionals that can develop these ideas. “We are actively recruiting adjacent industry veterans from hardware, finance, payments and insurance who want to revitalise or disrupt existing industries and help us lead the Bitcoin revolution”, said Peter Vessenes, CoinLab’s CEO.
The Seattle-based platform knows how it feels to be helped, especially when you’re at the beginning of a project. The company was one of the first businesses in the Bitcoin ecosystem to attract venture capital funding. The investment happened in 2012, when Draper Associates invested half a million dollars in the firm.
Now they are starting their own project, boosting other companies’ success. Alydian, which provides multi-terahash-speed mining systems, is the first business on their list and CoinLab’s first step in this case was to recruit former Pixelworks’ CEO Hans Olsen to head up the business.