Rasmus Højland gave a short, candid pitch at Mining Disrupt Miami 2019, recorded July 23–25, 2019. He introduced himself as being from Copenhagen, Denmark, and as the newest member of the Cyberian Mine team. The company, he said, was based in Germany and backed by a mining fund, and it hosted customers' miners in Siberia. Bitcoin traded at $9,770 that week; today it trades at $81,859.
our goal is to eventually be the last mine standing because of our favorable prices and so on
Rasmus Højland · 0:50
Hosting, not cloud mining
Cyberian Mine offered hosted mining to retail and institutional customers, and Højland said it was also working with pension funds and onboarding other funds. He drew a clear line at cloud mining.
We don't do cloud mining as we think there's too much scamming involved in that
Rasmus Højland · 1:22
The model, as he described it, was simple: customers own the machines and the company runs them in its facilities. He said hosting costs were kept transparent and gave the all-in figure at the time.
At the moment the all in cost is six euro cents or seven dollar cents
Rasmus Højland · 1:33
Small miners were part of the plan too. Højland described a community of customers who buy one machine and have it hosted with the company, or ship their own, with Cyberian Mine helping on the paperwork and customs. He also mentioned group buys within that community.
A lower price with immersion cooling
Højland said the company wanted its mining to be fully green, which he presented as an ethical investment case. He then gave its current price and a lower target that depended on a move to immersion cooling. He did not state the unit for either figure.
right now we are running prices at $39. 00, but eventually we will do immersion cooling
Rasmus Højland · 3:45
Heat for Irkutsk
The most specific plan in the talk was about heat. The captions render the city as "Yerkoosk"; it is Irkutsk, where the company's site was. Højland said Cyberian Mine was negotiating with the local energy company to become a heating provider, warming water and sending it out to the city's residents.
we are right now in negotiations with the local energy company in Yerkoosk to become heating providers
Rasmus Højland · 4:02
He tied the site's power to the large dam near the city and said the company planned to build a 10-megawatt facility by the end of the year.
we have access to up to 1 gigawatt of energy
Rasmus Højland · 4:17
The team behind the pitch
Højland named the founders, Pavel and Max, along with Malcolm, head of mining Tor from Norway, and Derek, whom he called the team's Chinese connection. He said the company's legal framework was based in Europe, that KPMG served as its accountants, and that two Russians on the team brought experience of the area. The lead investor in its angel round, he added, was targeting institutional investors who would host with Cyberian Mine by the end of the year.
It was his first time on the Mining Disrupt stage, and he said so. The figures in the talk are the company's own, from 2019, and the full session is in the video above. Mining Disrupt returns March 22–24, 2027 in Irving, Texas.