What Barefoot Mining does

Barefoot Mining is a privately held U.S. Bitcoin mining operator founded in 2017 by former Gateway, Inc. executives Bob Burnett (CEO) and Keith Thomas (President), and headquartered in Estero, Florida. The company develops and operates boutique-sized, geographically distributed Bitcoin mining sites under a 'wild horse' strategy that pairs each site with off-grid or stranded energy sources — including hydro-electric, flared/stranded gas, bio-energy, solar, geothermal, and wind — to minimize regulatory exposure and grid-power dependency. Active sites span Nebraska, South Dakota, and South Carolina, with joint ventures such as Bitflow (South Carolina hydro-electric) and Red Horse Mining (operational Q2 2022) operating as distinct legal entities.

The company's core technology is commodity ASIC-based Bitcoin mining hardware, supplemented by historical expertise in GPU-based Ethereum mining equipment manufacturing through its former Divvy Systems arm. Barefoot Mining distributes Bitfury-branded mining equipment and provides occasional hosting services for third-party rigs when excess capacity exists, but its principal activity is self- and partner-operated mining. The business model is project-based and capital-light on the company's own balance sheet: each new mining site is organized as a standalone legal entity that raises equity from high net-worth individuals, family offices, and investment funds at a $50,000 minimum, with most mined Bitcoin distributed directly to investors to minimize tax exposure and give partners full custody.

Go-to-market is sales-led and relationship-driven, combining thought-leadership content (Bitcoin Magazine, Medium, educational videos, the 'Sats Per Person' tool) with direct outreach to investors and energy providers. Barefoot Mining positions itself within a Bitcoin-ethos narrative emphasizing decentralization, regulatory resilience, and the use of stranded energy — monetizing energy through mining rather than scaling toward large, grid-dependent captive operations.

Name

Barefoot Mining

Legal name

Barefoot Mining

Website

https://barefootmining.com

Company type

Private

Founded year

2017

Operating status

Operating

Short description

Barefoot Mining is a private U.S. Bitcoin mining operator that develops boutique, off-grid mining sites powered by stranded and renewable energy, raising project-level capital from high net-worth investors and family offices and distributing most mined Bitcoin directly to them.

Ownership category

akta.pro rank

Product category

Cryptocurrency Mining Services

NAICS

Other Metal Ore Mining (21229), Support Activities for Metal Mining (213114)

SIC

Metal Mining (1000)

akta.pro primary industry

Mining Hosting, Colocation & Managed Facilities (FSADAOAE)

akta.pro secondary industries

Mining Infrastructure & Energy Procurement (Power, Cooling, Grid Services) (FSADAOAG), Mining Finance, Leasing & Hashrate-Backed Financing (FSADAOAH)

Keywords

• Bitcoin mining operations
• Off-grid mining
• Mining investment ventures
• ASIC mining hosting
• Stranded energy mining

Headquarters

HQ city

Estero

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Supply Chain, Personnel, Marketing or Sales, Technology or R&D

Revenue model

1. Bitcoin Mining Operations: Barefoot Mining operates Bitcoin mining sites and mines for itself and its investors. The company generates revenue through mining Bitcoin, with most of the mined bitcoin distributed directly to investors rather than held on the company's balance sheet. This approach minimizes tax exposure and gives investors full control of their bitcoin.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels5 records

Core offering

Barefoot Mining develops and operates boutique-sized, off-grid Bitcoin mining sites powered by stranded or off-grid energy sources such as hydro-electric, flared gas, solar, wind, geothermal, and bio-energy. The company creates unique legal entities for each mining venture and raises capital from high net-worth individuals, family offices, and investment funds, distributing most mined Bitcoin directly to those investors.

Product overview

Barefoot Mining is a Bitcoin mining company that operates as a platform offering multiple interconnected services: core Bitcoin mining operations utilizing diverse energy sources and geographic locations, investment opportunities in mining site ventures for high net-worth individuals and family offices, occasional equipment hosting services, and equipment sales. The company also operates Bitflow (hydro-electric mining site in South Carolina), Red Horse Mining (Q2 2022), and an educational tool called SATS PER PERSON. The company follows a 'wild horse' strategy focused on distributed, nimble mining sites paired with off-grid power sources.

Differentiator

Problem solved

Functional benefit

Products and services

• Bitcoin Mining Operations Bitcoin mining services operating across diverse US geographic locations and power sources, including 'wild mining' operations utilizing off-grid energy such as hydro-electric, stranded/flared gas, bio-energy, solar, geo-thermal, and wind. Built for investors and partners seeking direct Bitcoin exposure.
• Mining Investment Opportunities Investment opportunities in individual mining site ventures, structured as separate corporate entities with a minimum investment threshold of $50,000. Investors receive Bitcoin distributions directly, typically about once per month, minimizing tax exposure and providing downside protection versus direct BTC purchases.
• Mining Equipment Sales Sale of ASIC-based Bitcoin mining equipment, including Bitfury products (via the Divvy Systems distributor agreement). Availability and pricing vary frequently based on supply.
• Mining Equipment Hosting Hosting services for third-party mining equipment, offered when excess capacity is available across Barefoot Mining's sites.

Segments2 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered core.

• BitfurycoreChannel Partner/ Reseller/ DistributorIn mid-2018, Divvy Systems (the equipment manufacturing arm) signed an agreement with Bitfury to become their U.S. Distributor and Service Center of Bitcoin mining equipment.
• BitflowcoreStrategic or Co-development PartnerA mining site developed behind the meter of a private hydro-electric facility in South Carolina. Done in partnership with two investment groups. This was the first 'wild mining' operation demonstrating the company's strategy of off-grid power pairing.
• Red Horse MiningcoreStrategic or Co-development PartnerA mining operation developed in partnership with investors that became operational in Q2 2022. Named entity for a specific mining venture under the company's distributed site model.

Scale indicators2 records

Recent moves5 records

Expansion highlights5 records

Broad incumbents

• Marathon Digital Holdings: One of the largest publicly traded Bitcoin miners in North America, operating industrial-scale mining across multiple US sites with a focus on energy diversification. Directly comparable as a Bitcoin mining operator using ASIC infrastructure, though at vastly greater scale than Barefoot.
• Riot Platforms: Public Bitcoin mining company with large-scale facilities (notably Texas-based Corsicana and Rockdale sites) and growing HPC/AI compute optionality. Comparable as a US-headquartered Bitcoin mining operator pursuing power-cost strategy, though substantially larger and more institutionally backed than Barefoot.

Direct peers

• CleanSpark: US-based Bitcoin miner operating multiple sites with a focus on low-cost power and geographic diversification across states. Closely comparable operating model to Barefoot's distributed multi-site approach, though at meaningfully greater scale and with public-market balance sheet.
• Iris Energy: Public Bitcoin miner that builds and operates sites powered predominantly by renewable/stranded energy (hydro, solar, wind) — the closest publicly traded analog to Barefoot Mining's off-grid 'wild horse' thesis. Comparable on energy procurement strategy and ESG narrative.
• Hut 8 Mining: Public Bitcoin miner with diversified site locations and a focus on infrastructure-quality mining plus HPC/AI optionality. Comparable as a multi-site Bitcoin mining operator pursuing power-cost and infrastructure strategies.
• Core Scientific: Public Bitcoin miner and hosting provider that emerged from Chapter 11 in 2024. Closely comparable on the hosting-and-self-mining model Barefoot uses, though at industrial scale and with colocation services to third-party miners.
• Bitfarms: Public Bitcoin miner operating multi-site facilities with a focus on hydroelectric and renewable energy, primarily in the Americas. Comparable on multi-site, hydro-power-aligned strategy.
• Bit Digital: Public Bitcoin miner and HPC/AI infrastructure operator with sites across the US and internationally. Comparable on multi-site Bitcoin mining operating model; has also pivoted toward AI/HPC compute, an option Barefoot has not pursued.
• TeraWulf: US-based Bitcoin miner operating behind-the-meter nuclear-powered facilities in Pennsylvania and New York. Comparable to Barefoot on the off-grid/behind-the-meter thesis and pursuit of stranded clean-energy power, though with a single large facility vs. Barefoot's distributed model.

Emerging players

• Compass Mining: Marketplace and hosting platform that sells hashrate and hosts third-party ASIC hardware. Comparable to Barefoot's mining hosting and equipment hosting offerings, with an overlapping customer base of HNW/individual Bitcoin mining investors, though Compass does not self-mine at scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/BarefootMining

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Barefoot Mining