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March 22, 2022

Introducing the Pipe API and Mine Now, Pay Later

Bitcoin Mining Hardware

Traditional financial services are often slow to support industries with innovative business models. But here at Pipe, we’re working to equalize financial access and help companies grow on their terms. That’s why we’re excited to announce the Pipe API, which lets companies offer embedded alternative financing to customers while they use their recurring revenues to build and scale.

The API will help extend access to financing across industries—including less “traditional” industries like bitcoin mining. Let’s take a look at the API in action.

Alternative finance and bitcoin mining

Cryptocurrency is at the center of a booming movement to decentralize finance, known as DeFi. With many traditional financiers hesitant to work with companies in the crypto space, the industry and community are hungry for alternative financing solutions to ensure it remains accessible to the many, not just the few.

The cost of ASICs, the specially designed hardware systems used to run viable and competitive mining efforts, can be upwards of 10,000 USD. If you want to mine bitcoin today, you have to pay cash up front for hardware and hosting, with few, if any, financing options available. With Pipe’s new API enabling embedded alternative financing for emerging and overlooked industries by traditional finance like crypto, that’s changing.

Introducing Mine Now, Pay Later

Compass Mining is no stranger to finding new and alternative solutions in the crypto space. Compass is leveraging the Pipe API to launch a Mine Now, Pay Later option that allows miners to pay for their hardware and hosting in installments.

“We believe everyone should be able to mine bitcoin, and Pipe’s Mine Now, Pay Later is a big step in this journey,” says Compass Mining’s CEO, Whit Gibbs. “Together with Pipe, we are accelerating the growth of bitcoin mining by democratizing access to the critical financing options that traditional banking institutions have ignored.” 

‍Mine Now, Pay Later is a financing offering for bitcoin mining hardware and hosting companies like Compass. This empowers bitcoin mining hardware companies to offer payment terms to their customers on mining equipment and services.

With this initiative, Pipe is providing access to the capital markets for bitcoin mining hardware companies and other industries with innovative business models that traditional finance has not historically supported.

Learn more about how companies can use Pipe’s API to better enable customers like bitcoin miners. 

An API for crypto and beyond

How are we making this happen? With the release of our new API. The Pipe API allows companies with a recurring revenue business model to securely sync to the Pipe trading platform—now, companies can both pull forward capital for growth themselves, and offer embedded finance solutions for customers.

Pipe’s data-driven platform aims to provide direct access to the capital markets, providing founders—regardless of industry—with an alternative financing solution so they can grow their businesses on their terms, without restrictive debt or dilution. Pipe’s new API is a natural next step in expanding those possibilities.

With the Pipe API in beta, we’ve seen companies in a range of industries access capital markets to turn recurring revenue streams into up-front capital.

“The launch of Pipe’s bitcoin mining solution and the Pipe API are a clear sign of our intention to shine the light on markets and businesses that have flown under the radar of traditional debt and equity financing,” says our co-founder and co-CEO, Harry Hurst.

By leveraging the API to provide an embedded finance solution for customers, companies can scale faster without the traditional hurdles of raising rounds or chasing loans—and without sacrificing cash flow to offer payment plans.

Sign up today to see how Pipe can help you grow your business on your terms.

Interested in using the Pipe API for your business? Join the waitlist.

Disclaimer: Pipe and its affiliates don't provide financial, tax, legal, or accounting advice. What you're reading has been prepared for knowledge-sharing and informational purposes only. Please consult your financial and legal advisors to determine what transactions and decisions are right for you and your business.

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