Sazmining
Energy companies need a way to utilize their excess energy to avoid losses on their power asset investments, they need to increase profitability through full energy output into cryptocurrency mining instead of accepting under-utilization of their power assets.
Sazmining’s turnkey services utilize the excess energy for cryptocurrency mining & substantially increase the revenue for energy companies.
Following the rise in popularity of cryptocurrency, Sazmining’s main competitor is Bitmain. Sazmining’s main advantage is the trust/ability to do business in the United States, along with their internal processes for working with Energy companies in this new niche market. Because Bitmain is a China-based company and is focused more on the manufacturing and development of its own operations, they are relying on American partners who have a smaller, less-connected team in the USA. Sazmining is focused on bridging the blockchain and the energy sector through cryptocurrency mining.
Traction
With its innovative vision and platform, Sazmining has received numerous press mentions and has attracted a variety of big business partners.
Sazmining currently has Operations and JV projects for expansion, as well as a leads list of thousands of prospective energy clients. They are also in current conversations with 9 large potential clients.
Sazmining’s biggest hurdle to overcome in the following year is scaling their team to handle the large energy demand of companies within the energy industry who want to utilize Sazmining’s turnkey service. They have begun streamlining/documenting their internal processes that will help to take on a larger number of clients in the future.
Team
William Szamosszegi, CEO – William Szamosszegi founded Sazmining in 2018 and has scaled the team to handle multiple domestic and international joint venture mining projects. He has built a well-recognized brand within the industry, having been written up in Business Wire, Yahoo Finance, Marketwatch, Business Insider, and other platforms. He strategically positioned Sazmining to capitalize on future trends in the cryptocurrency mining industry. Prior to his work in cryptocurrency and blockchain, William co-founded the technology company TurnUh LLC, where he managed domestic and international projects. William’s work focused on product development, marketing campaigns, and scaling teams to achieve rapid expansion of corporate capabilities. His experience includes work in algorithmic video promotion at IRIS.TV and business development at Bankers Healthcare Group. William was the recipient of Bucknell’s venture grant, a finalist in SXSW’s Digital Entrepreneurship Tournament, a Forbes Fellow, and a speaker on Cryptocurrency/Blockchain topics at conferences and Universities. He also co-founded the Winter Tennis Special Olympics program at the Junior Tennis Champions Center at College Park, Maryland to provide winter training opportunities for tennis special Olympians. William earned a BA from Bucknell University.
Brian Snyder, CTO – Brian Snyder has been actively mining Bitcoin since 2013. Brian has managed and operated over 50MW globally. He is the CEO of Blocktree Technology, a three-year-old BTC miner and blockchain solutions company. In addition to mining, Blocktree builds and operates facilities and manages large scale GPU deployments for customers. Brian is also CEO of Gray Matter Industries, a seven-year-old company specializing in Bitcoin mining managed services, miner refurbishment, and trading, hashplex designs, GPU case manufacturing, and custom PCB board backplanes. Gray Matter is in advanced discussions for a merger with Sazmining.
Dustin Holden, CFO – Dustin Holden has more than 14 years of experience in finance and banking. He is the founder of Andon Financial, a CFO consulting and accounting firm that specializes in financial strategy, cost accounting, financial modeling, and M&A. Successful Andon engagements include the sale of a private company for 8x return on investment, acquisition of a distribution subsidiary, and multiple instances of material operating improvements through the deployment of MRP systems and other cost accounting optimizations. Dustin is an expert in cost accounting in manufacturing environments, consolidations, and profitability analyses. Dustin has a BS in Accounting from Utah Valley University and a Master of Accounting from Southern Utah University.
Soheib Ghizali, Strategy – Soheib Ghizali has led multiple startups and participated in IPOs for EMAAR Malls, Dubai Parks and Resorts, and Amanat Holdings. He is a former VP of Finance and Operations at Zero Mortgage Canada, a Sharia Law compliant mortgage lending startup, for which he led a seed round equity raise and early bank financing. He also previously worked as a strategy and financial consult with Dubai Financial Market and Smartzone Consultancy in Dubai. Soheib earned a BA from Omania University and an MBA from Marquette University.
Craig Irvine, Finance and Treasury – Craig Irvine is an award-winning equity research analyst with 20 years of financial and operational leadership experience in multinational and startup environments. He delivers invaluable insights into the challenges faced by emerging high growth companies through his entrepreneurial and venture capital experience. Recognized by peers and clients as an award-winning leader and successful business driver. He specializes in strategic planning and execution, corporate finance, capital markets, M&A, investment valuation and timing, and Investor relations. Craig earned a BA in East Asian Studies from Yale and an MBA in international finance from Wharton School of the University of Pennsylvania.
Gordon Meyer, Marketing – Gordon Meyer brings more than fourteen years in advertising and marketing with a wealth of experience working at disruptive companies. Gordon is the CEO of EngineBloc, a hybrid digital agency, and consultancy and is also the Professor of Blockchain Technology at Columbia College Chicago Online. He serves on the Board of Advisors for BWG Strategy, an invite-only network for senior executives across technology, media, and telecom. He has been featured on NPR’s All Tech Considered, as well as in publications such as Forbes, INC Magazine, Chicago Tribune, Skift, and Brandchannel among others. Gordon has a BA from Lehigh University.
Funding
Sazmining is looking to raise 6,000,000 USD. Once secured, it will be used to service the demand of energy clients. Their turnkey services require the build-out/ongoing management of facilities on behalf of energy clients and thus, they need to manage Sazmining’s overhead in the early stages of these projects
They are also currently working towards solidifying their niche positioning with marketing campaigns and sales efforts with energy clients.
The funding will also enable Sazmining to carry out the game plan outlined in their Investor Memorandum, which will brings them to the following milestones:
- 350 MW in their own mining operations
- 188MM in revenue in 2023 at a 68% profit margin
- 400MW in energy client demand
Sazmining has previously raised an initial family/friends funding round. Then issued a round of convertible notes. Which was followed by a merger with another company that had been operating since 2013 through a Stock Purchase Agreement (stock-for-stock merger).
As Sazmining strives for continuous growth, they also plan for team expansions. Engineers will be recruited and educated in Sazmining’s proprietary designs. This will allow us the business to service great numbers of MWs. Sales and Business Development talent will be needed to onboard more energy clients. Sazmining also plans to contract in local areas where they are building out facilities.
Revenue Model
Sazmining’s turnkey mining services can be placed onsite for energy companies to consume their excess electricity and generate large additional cash-flow for their operations.
Without Sazmining, the energy companies will make no money on these stranded power assets, thus, instead of raking in more profits, these will be written off the equipment as a loss. Their only solution is to try and find additional clients/demand for power, but this can prove to be difficult and unpredictable. The best way for them to avoid this problem of excess power capacity is to build the proper electrical infrastructure when they begin their project, the only setback is that it’s almost impossible to perfectly predict demand.
Sazmining’s proprietary solution optimizes operations to 99% efficiency. Their equipped solution allows energy providers to use their excess stranded power to generate additional revenue.
Sazmining’s stream of revenue is through charging their energy clients for the project build-out through an SOW. Then multi-year operations contracts are locked in to keep the site operational.
Details
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