Zeus Engineering is seeking 1-2M USD in Series A VC or Private Equity Funding to scale our Bitcoin Mining operations in Vietnam whilst reducing our operating expenses.
Estimated total revenue in the first year of completion of the new facilities and client onboarding is ~20 BTC per year. In this, ~10-15 BTC per year from company owned mining equipment (200 Machines), and additional ~4-5 BTC per year in hosted mining services (300 Machines).
Expected profits after expenses ~10-15 BTC per year. Total systemized asset value ~3M USD (including assets under management).
First and foremost we are an Engineering Company based in Vietnam. We specialize in big data and big power including the use of renewable energy sources.
At this moment, our core focus is in Bitcoin Mining Operations – especially due to it’s high value, liquidity and guaranteed customer base to sell our product output: Bitcoin.
We currently operate a 100KW facility on 300SQM site in Vung Tau Ba Ria region. We have over 1Ph peak hash power and 20KW peak solar.
We have recently opened up to hosted mining solutions, allowing us to onboard clients who pay us setup and service fees to run and maintain mining equipment on their behalf – opening our client service base to every country and continent, whilst increasing our asset pool within the company.
We began working with Bitcoin Mining 8 years ago before officially registering Zeus Engineering 4 years ago. We are a privately held, multiple member limited liability company with shares, registered in Vietnam (MST/CRN: 0317377894).
The company is financially self sustaining, having completed pre-seed and seed funding rounds using only own funds generated and re-invested through our own Bitcoin Mining operations.
The Founder and CEO is Tatts Nguyen, a Vietnamese Entrepreneur with a history in Multinational Corporate environments namely Insurance Companies.
The Co-Founder & CTO is Chris Gainer, an Australian foreign national, private investor, Vietnamese resident, Electrical and Electronics Engineer come Entrepreneur with 20 years experience in Heavy Industrial Engineering environments and Military Operations & Leadership.
The newest members to our team are Quynh Nguyen our Head of Accounting & Legal with strong corporate governance knowledge, and Valentine Cheval, our Chief Brand and Marketing Officer with a background with Bitcoin.com and Bitmex.
1. Acquire larger industrial site in the Vung Tau / Ba Ria region of Vietnam which we are well versed in. Up to 2000 sqm with an industrial factory warehouse sufficient to house, power and operate up to 500 Bitcoin Mining Machines.
2. Purchase 200 new Bitcoin Mining Machines to operate for the company to generate 10-15 BTC per year.
3. Onboard 100 new hosted mining clients with a total of 300 additional mining machines with 10% of earnings in service fees to the company.
4. Grand total of 500 Machines online and operational.
5. Fit-out the site with up to 500KW peak solar to save up to 10% in overall power expenses.
6. Bring our total power consumption up to 1MW, then 2MW, giving us access to wholesale power rates in Vietnam, further reducing operational power expenses.
7. Setup factory workshop and floor space to do trial fit-outs and manufacture of containerized units for future plans (see below).
It’s no secret that Vietnam boasts extremely low Capex and Opex opportunities. Land and Factory facilities are of a very low cost to obtain and setup. There is a large and eager local workforce, which is also very low cost.
Whilst not the lowest in the world, Vietnam has competitive power rates, with further benefits to be realized when reaching wholesale rates over 1MW.
Vietnam receives plenty of sunlight all year round, with little variation in daylight hours through the seasons. This makes it a perfect candidate to utilize the relatively cheap solar systems available easily from local and Chinese manufacturers. Save the planet, and save power expenses.
Vietnam has recently declared by decree that they wish to become a leader in data centers, AI technology and has just embraced regulated crypto exchanges. Meanwhile, the government has been actively slashing red-tape to allow foreign investment, ownership and residency, opening the gates for massive investment opportunity.
With almost all of our required parts and equipment manufactured and distributed out of China, we share a land bridge and solid trade relationship.
Company tax rates are a nominal 20% in Vietnam, which is globally competitive. A large portion of our business can take advantage of other generous rate reductions all the way to 0% – especially customs duty, which is 0% for most of our computing equipment, and around 10% for software related activities.
4 year established company
Audited and clear for operations and scale
Locally owned, Foreign Co-Founder
8 years experience with Bitcoin Mining
Strong understanding of the local environment and governmental policies
Import / Export license and established logistics and payment rails
20 year experienced Engineering Chief
Survived and built in the tough times and bear markets
Have tooling, test and repair equipment and skills to use it
Small, but highly skilled and motivated team
Used to running a very lean operation, making the most of every dollar available
Have made and own our mistakes that cost us dearly, and provided invaluable knowledge of pitfalls, risks, and how to avoid or manage them.
Our long term vision is to be a world leading provider of modular, transportable, containerized Data Centers which can be built in Vietnam and deployed worldwide.
Once Series A expansion is complete and operational, we intend to immediately begin prototyping and testing on our own containerized models which will be designed for compatibility with Bitcoin Mining, AI and Quantum Computing Data Centers.
Simultaneously, we intend to begin our Series B fundraising for 10-20M USD to realize that phase of the project.
With operational units deployed, we will be seeking Series C of 100M USD to further expand and scale our operations.
Beyond that, will be to send the Company Public to embrace deep level research and development into these leading edge and upcoming technologies.
During this time, we seek to become a Trusted Government and International Provider for Modular Containerized Data Centers, and Broader Research and Development activities in Bitcoin, AI and Quantum Computing.
Q: Doesn’t it cost more in power than you make in Bitcoin?
A: It requires skill and experience to manage power use and costs. Up to date and most efficient equipment, wholesale power rates and renewable sources are some of the solutions.
Q: Don’t the machines go out of date and become obsolete?
A: This is applicable to all technologies. The key is to get the maximum value from the equipment within their high return period, and have a sound upgrade plan in place… Or find even cheaper power to run older machines.
Q: Is mining illegal in Vietnam
A: No. Stealing power is illegal which is what others have gone to jail for. Mining is running automated computing machines that solve the SHA-256 encryption hashing algorithm, and this is a perfectly legal activity.
Q: Is Bitcoin illegal in Vietnam?
A. No. It is not recognized as a currency, and is not legal tender. Owning Bitcoin is considered to be an asset.
Q: Do you pay taxes?
A: We are a fully functional company that conforms with all applicable tax laws, including depreciation and running at a loss at reporting time due to continuing re-investment in our company.
Q: How do you manage the heat?
A: We manage airflow using conventional methods such as fans, water radiators for hydro and airflow control systems.
Q: What about Bitcoin price volatility?
A: After years in the industry, we know that despite the ups and downs, the ultimate direction is up, and to the right. We have been in the game since BTC was $300
Q: Why not just buy Bitcoin and wait for the price to rise?
A: This is a much easier strategy, however mining 1 BTC is less than half the cost of buying, plus, you continue to make BTC so long as you keep mining.
Q: Does the Vietnamese workforce have the skills required for this high tech work?
A: There is a skills gap which is manageable by us and why we have foreign technical leadership.
Q: What does all this have to do with the AI and Quantum Computers you talk about?
A: From our perspective as an Engineering and Technical firm, they are all big computers. The challenge is in setting them up well and having the facilities, infrastructure and importantly power needs met. We are posturing ourselves to be able to do all.
There are many more questions we are sure you would like to ask, and we are confident we can answer all you would like to know so please:
If this pitch caught your attention, and you are interested in supporting us and having a share in a leading Bitcoin Mining Company in South East Asia, please get in touch so we can have a meeting and talk more.
And if you think our pitch is lacking, please do us a favor and send us your feedback with how we can improve and make our pitch even more appealing.