Ten31 — Patient capital for the bitcoin, energy, and AI renaissance

32i=0
210,000 ·
50
2i
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 finite.

Bitcoin is finite money, enforced by energy.

AI is abundant intelligence, enabled by energy.

Both compound demand for energy infrastructure. We invest at that convergence.

Crypto funds don’t get power.No proof of work, so no reason to ever learn it.

AI investors don’t get bitcoin.Fluent in compute, not yet linking it to finite capital.

Energy funds don’t get tech.Project finance isn’t wired for disruption.

We have been in all three since 2020.

02 — Portfolio
Financial — bitcoin.
Strike
Financial services
Financial — bitcoin.
Unchained
Financial services
Financial — bitcoin.
Fold
Consumer
Public
Financial — bitcoin.
Anchor Watch
Insurance
Financial — bitcoin.
River
Financial services
Financial — bitcoin.
Battery
Credit
Financial — bitcoin.
debifi
Credit
Financial — bitcoin.
Hodl Hodl
Trading
Financial — bitcoin.
Peach
Trading
Financial — bitcoin.
Bitnob
Financial services
Financial — bitcoin.
IBEX
Lightning
Financial — bitcoin.
Fedi
Lightning
Financial — bitcoin.
zaprite
Commerce
Financial — bitcoin.
Oshi
Consumer
Financial — bitcoin.
hoseki
Proof of ownership
Physical — energy and compute.
Giga Energy
Mining / AI Infra
Physical — energy and compute.
Satoshi Energy
Mining / AI Infra
Physical — energy and compute.
Cathedra
Mining / AI Infra
Public
Physical — energy and compute.
Cormint
Mining / AI Infra
Physical — energy and compute.
Upstream Data
Mining infrastructure
Physical — energy and compute.
Standard Bitcoin
Mining
Acquired
Physical — energy and compute.
Block Mining
Mining
Acquired
Physical — energy and compute.
GRIID
Mining / AI Infra
Acquired
Informational — data, AI, and security.
Start9
Sovereign computing
Informational — data, AI, and security.
OpenSecret
AI
Informational — data, AI, and security.
Primal
Nostr
Informational — data, AI, and security.
Stakwork
AI
Informational — data, AI, and security.
StatMuse
AI
Informational — data, AI, and security.
Vida
AI
Public
Informational — data, AI, and security.
Coinkite
Security
Informational — data, AI, and security.
nodl
Node infrastructure
Informational — data, AI, and security.
mempool.space
Analytics
03 — Team
Grant Gilliam

Grant Gilliam

Co-founder and Managing Partner

20 years investing in private equity and venture. Board: Strike. Previously CVC Capital Partners.

Jonathan Kirkwood

Jonathan Kirkwood

Co-founder and Managing Partner

MD MBA. Capital formation and fund management. Lead Director at Fold. Board: Start9 Labs, Battery.

Matt Odell

Matt Odell

Managing Partner

Co-founder, OpenSats and Bitcoin Park. Founding Board, Bitcoin Policy Institute and SimpleX Foundation.

Marty Bent

Marty Bent

Managing Partner

Founder of TFTC.io. Board member, Cathedra Bitcoin (TSX-V:CBIT).

John Arnold

John Arnold

Principal

10+ years analyzing businesses and evaluating transactions. Previously Goldman Sachs, Citadel, Crestline.

Every bitcoin financial product in one place, made easy.

Strike →

Custom AI energy infrastructure, delivered faster.

Giga Energy →

The imperative of personal datacenters as AI proliferates.

Start9 →

What if you could insure bitcoin while still holding the keys?

AnchorWatch →

Scaling energy and compute for an abundant future.

Satoshi Energy →