The rise of institutional participation and mainstream interest in Bitcoin (BTC) has triggered conversations around energy efficiency, regulatory frameworks and the economic viability of BTC mining.
Uminers, a global crypto mining equipment provider, has recently made the headlines by announcing a strategic partnership with Ledger and teasing a zero-interest Bitcoin mining loan program.
In this interview, Uminers founder and CEO Batyr Khydyrov explains the role of Bitcoin mining within a broader Web3 context while sharing Uminers’ core values and what sets the company apart.
Cointelegraph: What is the broader significance of Bitcoin mining in today’s Web3 economy?
Batyr Khydyrov: It is safe to say that Bitcoin mining is the backbone of the entire crypto ecosystem. It secures the Bitcoin network through a decentralized mechanism, ensuring trustless transactions and protecting the network against attacks.
In the broader Web3 economy, mining also embodies the shift from traditional finance to digital, global and permissionless infrastructure. As we see more institutional and mainstream adoption of crypto assets, the reliability, scalability and sustainability of mining operations become even more crucial to support this evolving economic landscape.
CT: Many mining companies tout values like transparency and sustainability. How does Uminers put these into practice in ways that tangibly benefit your clients or the broader mining ecosystem?
BH: At Uminers, we don’t just talk about values like transparency, security, innovation, accessibility, and sustainability — we build them into every layer of our operations. We’re transparent in our pricing and operations, especially with our upcoming zero-interest financing model where costs and collateral are clearly defined.
Since digital assets are an integral part of our operations, security is also paramount to us. That’s why we partner with top-tier custodians like Ledger.
Our focus on innovation manifests itself in advanced cooling technologies and AI optimizations that drive efficiency. Accessibility underpins our global approach — offering turnkey services to new and experienced miners alike in both established and emerging markets. Lastly, sustainability ensures our facilities are energy-efficient and scalable for the long haul.
CT: Why did Uminers choose Ethiopia as the location for its flagship data center, and what advantages does this location offer?
BH: We picked Ethiopia because this African country provides a rare combination of low-cost, reliable power and significant expansion potential. Our data center currently offers 100 MW of capacity, and we plan to ramp it up to 175 MW before the year’s end.
Our Ethiopia facility is equipped with advanced water-cooling systems, among the most state of the art on the market. These units support both standard Hydro miners like the Bitmain S19 Hydro and S21 Hydro, as well as the manufacturer’s latest innovations such as the S21e XP 3U. This setup allows for greater hardware density and operational efficiency. Combined with electricity priced at just $0.055/kWh, it makes our site one of the most cost-effective and performance-optimized mining environments globally.
CT: Some critics say custody partnerships are becoming industry-standard. What makes the Ledger partnership unique, and how does it address concerns specific to your clients’ needs?
BH: Ledger Enterprise is an industry leader in digital asset security, and its self-custody platform adds an institutional-grade layer of protection to our offerings. By integrating Ledger, we ensure that the Bitcoin collateral for our financing model remains secure and verifiable at all times.
This partnership aims to enhance our clients’ confidence in storing their BTC and reflect our commitment to robust, reliable solutions for miners everywhere.
CT: Zero-interest financing sounds attractive but could carry hidden risks. What safeguards are in place for borrowers, and how do you address concerns around default or collateral volatility?
BH: We offer 0% interest financing for 10 months, backed by BTC collateral securely stored via Ledger. This allows clients to acquire high-performance mining rigs without liquidating Bitcoin holdings — a key differentiator in volatile markets. Compared to bank loans, our program requires no fiat credit checks, offers instant approval, and keeps upside exposure to BTC.
Clients can keep their BTC, secured by Ledger’s self-custody platform, and still acquire the latest hardware. We aim to support long-term growth with this model: miners aren’t compelled to sell assets in a potentially unfavorable market, and they can scale operations at a pace that suits their strategic goals.
With over 15,000 financed units and a $100 million credit pool, clients can access next-gen hardware without upfront fiat costs. The 1,000 BTC collateral base ensures stability and confidence in the financing structure. For a client running 100 S21s, this could mean generating over 2.5 PH/s of hash power without having to touch their long-term BTC holdings.
CT: You’ve hit several notable milestones, but rapid growth often comes with growing pains. What internal challenges or missteps have you learned from along the way?
BH: Absolutely. Uminers is extremely proud of what we’ve achieved since our founding in 2017.
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We sell over 60,000 mining devices annually.
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Our revenue surpassed $500 million in 2024.
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We were named “Best Mining Company” at the 2024 Blockchain Life Awards.
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We’ve also laid out plans to expand to 500 MW across Africa and an additional 50 MW in the Middle East.
I see each of these milestones as a reflection of our commitment to the core values I previously explained.
CT: The mining space is highly competitive. Where do you think Uminers has a clear edge — and where do you still need to catch up with competitors?
BH: Our unique advantages revolve around three main pillars: innovative financing, strong partnerships, and turnkey solutions. First, we offer a unique zero-interest loan program that allows miners to hold their BTC while expanding operations.
Unlike public mining giants like Hive or Bitdeer, who focus on proprietary farms, Uminers delivers turnkey infrastructure solutions for clients. Our combination of competitive hardware pricing via our Bitmain SVIP status, immersion-cooled hosting, and zero-interest BTC loans means you get the same-grade performance — without the CapEx burden or centralization risks.
The security aspect of our solutions received a boost via Ledger’s platform. I believe this combination of cost-efficiency, security and operational simplicity differentiates us from other service providers.
CT: You mentioned transparency as a core value for Uminers — how do you maintain it?
BH: We maintain open communication about financing terms, hosting fees, and operational metrics. Clients know exactly where their collateral is held and how their hardware is performing. Our partnership with Ledger adds a layer of verifiable security, allowing clients to independently confirm the safety of their assets. By being clear on costs, risks and rewards, we aim to establish long-term trust with every customer.
CT: Uminers has been expanding globally, from Africa to the Middle East, North America, and Asia. What drives this global expansion strategy?
BH: Our mission is to ‘Make Mining Easy’ for everyone, everywhere. Different regions offer unique advantages. Some have abundant, low-cost energy, while others have regulatory clarity or a strong blockchain community.
By establishing facilities on multiple continents, we provide our clients with diverse hosting options that fit their operational, regulatory, and budgetary needs. This global footprint also strengthens our supply chains, from hardware logistics to local customer support, ensuring we can serve miners effectively around the world.
CT: What role do you see Uminers playing in the future of the global mining ecosystem?
BH: We aim to be both a financier and an infrastructure leader. By offering zero-interest financing, we empower miners to scale responsibly, while also focusing on cutting-edge, large-capacity data centers in emerging markets. We ensure that security and trust remain central to our ecosystem through strategic partnerships.
We’re not just selling machines — we’re building the rails for the next phase of global crypto infrastructure. Mining shouldn’t be a luxury for tech elites. Our goal is to make Bitcoin production accessible in regions where people need financial sovereignty the most — from East Africa to Central Asia. Uminers is pioneering this frontier, not following the pack.
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