Consensus 2023 Logo
Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.
Consensus 2023 Logo
Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.

The Geniuses at Work Corporation, the parent company of bitcoin mining hardware specialist GAW Miners, has acquired a controlling stake in cloud mining provider ZenMiner for $8m.

had originally announced a partnership deal with ZenMiner earlier this month. At the time, ZenMiner agreed to provide cloud hashing services as part of a broader strategic partnership.

In the latest deal, GAW Corp. acquired a controlling stake in the cloud hosting company. GAW CEO Josh Garza told CoinDesk, the stake purchase follows a period of close collaboration between the two companies, and that the development also reflects the growing role of hardware hosting in bitcoin mining company business models.

As Garza explained, the deal will allow GAW customers to either receive their miners through the mail or immediately begin hashing through the hosting service. By bridging the connection between hardware seller and hosting service, miners can generate revenue more quickly, he said.

Garza explained that the deal's main benefit is that it puts more power in the hands of hardware-buying customers, saying:

“I just want to help miners make some money, help get them some return on investment (ROI). I’m just so tired of manufacturers milking miners for all the money they can.”

The GAW CEO added that the ZenMiner deal is part of Project Prime, a broader effort to bring resources and information to the mining community and industry. The project notably includes the purchase of the domain name last month for a record $1m.

Hosting as a value solution

As Garza explained, the ZenMiner deal reflects a potential solution to a growing problem for bitcoin miners: the rapid depreciation of their hardware.

Currently, Garza argued, the developmental arc of mining hardware puts buyers who expect speedy deliveries at an advantage, especially if they have to wait months before their package arrives.

With the ZenMiner hardware hosting solution, miners can choose whether they want to begin hashing immediately or wait to receive their equipment. According to Garza, control of the hardware ultimately rests with the customer.

Garza said:

“You still own it, it’s your equipment. At any given time, you can give us a call, click a button and we’ll send it to you.”

The partnership between GAW Miners and ZenMiner has been mutually beneficial, Garza suggested, making the decision to acquire a controlling stake at the holding company level a no-brainer.

He concluded by saying that, ultimately, the deal “allows us to work more closely together”.

Handshake image via Shutterstock


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.