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the story of three [neo] billionaires
From garage to 3 billion in cash in 8 years.
Once upon a time, there were three stock market speculators who traded in gas and managed hedge funds. They were doing well for themselves, though not quite well enough to fly around in private jets.
In 2016, riding the wave of the crypto hype, they founded a company called Atlantic Crypto and began mining cryptocurrency in the garage of a private home. In the process, they acquired a large number of graphics cards. As long as crypto prices were rising, the cards paid for themselves quickly.
When the crypto bubble burst in 2018, these seasoned speculators made a smart move.
Instead of selling off their GPU inventory for a pittance, they began buying up cards from other, bankrupt miners for pennies on the dollar.
Sources claim the company continued mining Ethereum until 2019. It’s a bit odd — if mining was still profitable, why did the price of graphics cards drop so sharply? Something doesn’t quite add up, but never mind — that’s beside the point.
In 2019, they renamed the company CorеWeave and shifted to renting out their GPUs for video game rendering.
