32∑i=0
210,000
·
502i
43 68 61 6e 63 65 6c 6c | Chancellor on b|
72 69 6e 6b 20 6f 66 20 |rink of second b|
61 69 6c 6f 75 74 20 66 |ailout for banks|
SOFTMAX
LINEAR
FEED FORWARDADD & NORMMULTI-HEAD ATTENTION
⊕
INPUT EMBEDDING
BLOCK
PREV HASHNONCE
TXTX…
BLOCK
PREV HASHNONCE
TXTX…
01 — Thesis
Ten31 invests in companies at the convergence of the bitcoin, energy, and AI renaissance.
AI proliferates intelligence.Value gravitates to what stays scarce.
Bitcoin is scarce money, enforced by energy.
AI is abundant intelligence, enabled by energy.
Both compound demand for energy infrastructure. We invest at the seams of these three themes.
02 — Portfolio
Anchor Watch
Insurance
Battery
Credit
Bitnob
Financial services
Cathedra
Mining / AI Infra
Public
Coinkite
Security
Cormint
Mining / AI Infra
debifi
Credit
Fedi
Lightning
Fold
Consumer
Public
Giga Energy
Mining / AI Infra
GRIID
Mining / AI Infra
Acquired
Hodl Hodl
Trading
hoseki
Tools
IBEX
Lightning
mempool.space
Analytics
nodl
Infrastructure
OpenSecret
AI
Oshi
Consumer
Peach
Trading
Primal
Nostr
River
Financial services
Satoshi Energy
Mining / AI Infra
Stakwork
AI
Start9
Edge AI
StatMuse
AI
Strike
Financial services
Unchained
Financial services
Upstream Data
Mining infrastructure
Vida
AI
Public
zaprite
Commerce
03 — Team
Grant Gilliam
Co-founder and Managing Partner
20 years investing in private equity and venture. Board: Strike. Previously CVC Capital Partners.
Jonathan Kirkwood
Co-founder and Managing Partner
MD MBA. Capital formation and fund management. Board: Start9 Labs, Battery.
Matt Odell
Managing Partner
Co-founder of OpenSats and Bitcoin Park. Host of Citadel Dispatch and Rabbit Hole Recap.
Marty Bent
Managing Partner
Founder of TFTC.io. Board member, Cathedra Bitcoin (TSX-V:CBIT).
John Arnold
Principal
7+ years analyzing businesses and evaluating transactions. Previously Goldman Sachs, Citadel, Crestline.
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