Blockmetrix
The business, the turning points, and the decisions behind them.
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Sections to complete：02 · 05
01 / WHAT IT BUILT
What the company did
Blockmetrix is a Dallas, Texas-based bitcoin mining and datacenter company founded in mid-2021 by David Kiger, Keith Spickelmier and Nevin Bannister. It develops and operates purpose-built datacenters with high-performance computing hardware and grid-scale energy connections for large-scale digital-asset mining, serving mining firms and institutional participants. The company raised $43 million in a Series B round in March 2022 to deploy more than 5,000 additional mining rigs, completed another $5.62 million deal in March 2024, and in June 2024 appointed mining veteran Clark Swanson to lead the company.
02 / FAILURE REASONS
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03 / EVENT HISTORY
Events in the structured record
- Founded
Blockmetrix was founded in mid-2021 in Dallas, Texas, by David Kiger, Keith Spickelmier and Nevin Bannister to build an asset-light digital-asset mining company.
- Series B funding
Blockmetrix raised $43 million in a Series B round from investors in the US, Australia and Asia to purchase more than 5,000 additional bitcoin mining rigs, after deploying over 1,000 rigs with its earlier $7 million Series A.
- New financing and leadership
Blockmetrix completed a $5.62 million early-stage financing in March 2024 and appointed Clark Swanson, former CEO of Blockcap, to lead the company in June 2024 to scale its power infrastructure and mining operations.
04 / CONTEMPORARY REBUILD ASSESSMENT
Difficulty of rebuilding this project today
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Overall assessment: Not completed
05 / CAUSAL CHAIN / AFTERMATH
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