Tyrolean Startup for Bitcoin Heaters Secures Multi-Million Euro Investment

The Austrian Bitcoin heating manufacturer 21energy has successfully secured its first investment of €1.12 million in September 2024 through SOVECO GmbH. The nearly two-year-old startup now celebrates a company valuation of €7 million.

“This investment confirms our innovative approach to Bitcoin heaters,” says Maximilian Obwexer, CEO of 21energy GmbH. “With these funds, we can continue our planned expansion in Europe in time for the upcoming heating season, boost marketing efforts, and maintain our rapid development of new products and features.”

21energy is a perfect fit for the investor, SOVECO GmbH, which focuses primarily on high-performance computing. The company develops, produces, and sells high-performance computers with a focus on artificial intelligence.

In addition to the investment, 21energy looks back on a strong first half of 2024, with net sales exceeding half a million euros—representing a sevenfold increase compared to the previous year. This growth is driven by the new end-customer heating product “Ofen Pro” as well as trading activities involving so-called Bitcoin miners.

 

About 21energy

21energy develops and sells innovative heating systems based on high-performance computers (so-called Bitcoin miners) for both end customers and industrial clients. The electricity powering the heaters is converted both into heat and income through Bitcoin mining.

21energy’s end customers “earn money by heating” and effectively save on heating costs while significantly reducing carbon dioxide emissions when switching from oil or gas.

The entire value creation process—from development to production and sales—takes place in Tyrol, Austria. Since its founding in October 2022, the startup has already sold over 1,000 units of its globally leading heating system across Europe.

 

Press contact

Benjamin Kehrer
CMO & Kommunikation 21energy
E-Mail: benjamin.kehrer@21energy.com
Website: https://21energy.com/pages/press