Coindesk Logo

21 Inc Applies for Digital Currency Mining Circuitry Patent

21 Inc Applies for Digital Currency Mining Circuitry Patent

21 Inc Applies for Digital Currency Mining Circuitry Patent

21 Inc, the best-funded company in bitcoin, has filed a patent application with the US Patent and Trademark Office (USPTO).

21 Inc, the best-funded company in bitcoin, has filed a patent application with the US Patent and Trademark Office (USPTO).

21 Inc, the best-funded company in bitcoin, has filed a patent application with the US Patent and Trademark Office (USPTO).

AccessTimeIconOct 19, 2015, 11:49 AM
Updated Aug 18, 2021, 4:18 PM

Presented By Icon

Election 2024 coverage presented by

Stand with crypto

21 Inc, the best-funded company in bitcoin, has filed a patent application with the US Patent and Trademark Office (USPTO) for a form of digital currency mining circuitry.

The USPTO – the agency charged with issuing patents to investors and businesses and registering product and intellectual property trademarks – published the submission on 15th October.

Filed in April last year, the filing lists Matthew Pauker; co-founder and chairman at 21 Inc, Nigel Drego; co-founder and chief architect, Veerbhan Kheterpal; president and co-founder and Daniel Fir; co-founder as inventors of a digital currency mining circuitry.

:

"The present invention relates to mining of digital currencies such as cryptocurrencies. Mining circuitry and mining operations described herein may be used for any digital medium of exchange such as digital currencies, credits, rewards, or points.

Although published by the USPTO, 21 Inc's application is still pending approval, a process which can take years. The USPTO process also enables the public to oppose patents if they consider the application in question is unjustified.

The startup, which has accumulated $116m in funding to date, launched its first consumer product – a bitcoin computer for developers – to mixed reviews last month.

The publication of 21 Inc's filing comes after the news that Coinbase had submitted patent applications for nine different bitcoin products.

CoinDesk reached out to 21 Inc for comment, but no reply was received by press time.

Documents image via Shutterstock.

Disclosure

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

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation. Bullish was incubated by technology investor Block.one.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.