Columbia Basin Mining, LLC is Your Bitcoin Mining Expert
Columbia Basin Mining, a Washington LLC (“CBM”), a Bitcoin mining company; was established by Keith Kofoed and Steven Swanson. Prior to that, in the early 2000’s, both Keith and Steve were working at the highly successful online gaming company, Pari-Mutuel Gold. Due to consequential changes in government regulation of the online gaming industry, Pari-Mutuel Gold ceased operations. Prior to the closure of Pari-Mutuel Gold, Keith and Steve pursued and implemented various funding options for Pari-Mutuel Gold to drive aggressive growth opportunities. Their interest in alternative funding options ultimately led Keith and Steve to bitcoin. Originally, Steve planned to convert the Pari-Mutuel Gold online gaming community to a bitcoin operation. During the transformation of Pari-Mutuel Gold to a bitcoin funded operation, Steve recognized that the actual mining of bitcoins presented a higher margin and, overall, a more profitable business.
Over the years, Steve and Keith continued to brainstorm ideas about how to provide people who were interested in how to invest in Bitcoin, a very lucrative way to do so. In 2010, Keith moved back to Washington to take over his family’s farming operation. Over the next five (5) years, Keith quadrupled the farming production, which included land acquisitions in light industrial zones. In August of 2015, Keith and Steve realized the exceptional opportunity ahead of them. Knowing that the electrical power cost is the greatest expense in Bitcoin mining, Steve, with his experience and expertise in Bitcoin, and Keith, with his light industrial properties with access to some of the most affordable electrical power in the United States, formally launched the Bitcoin mining operation of Columbia Basin Mining.
Heading into 2016, CBM continued to hone in its strategy’s on how to mine Bitcoins efficiently and continued to improve its company structure for success in the Bitcoin market, especially given the aggressiveness of Chinese Bitcoin mining operations. The majority of the electrical expense in Bitcoin mining is cooling, which renders the electrical power inefficient. CBM decided that it would be in its best interest to design and develop its own leading-edge mining equipment with more efficient cooling and put that together with access to low-cost, economical electricity. In March 2016, CBM brought on Pete Larsen to assist with the legal aspects of the operation.
Key Executives in Our Bitcoin Mining Company
President & Co-Founder
About Mr. Keith Kofoed
Keith, President and Co-founder of our Bitcoin mining company, Columbia Basin Mining, previously worked with Steve as CFO of Pari-Mutuel Gold, Inc. where he was vital in managing all financial aspects of the business. After five years at Pari-Mutuel Gold, Inc. Keith shifted into the real estate development space where he excelled in creating and managing a diversified entrepreneurial portfolio. Keith was successful in orchestrating multiple development deals, converting over 700 acres into sub-divisions for commercial and residential use. Keith’s entrepreneurial skills have enabled him to develop a portfolio emphasizing his proven track record of building and sustaining growth. His finance background, real estate expertise and entrepreneurial foresight have proven to be valuable assets to the CBM team. Specifically, Keith has led CBM’s efforts to secure a structured network of facilities, and has managed the build-out for CBM’s bitcoin mining operation. Keith holds a Bachelor of Science in Business Management with an emphasis in finance from Brigham Young University’s Marriott School of Management.
CTO & Co-Founder
About Mr. Steven Swanson
Steve, Chief Technology Officer and Co-founder of Columbia Basin Mining, is an expert on how to mine Bitcoins and brings over 30 years of experience, knowledge and momentum to the CBM team. His extensive background in mathematics and previous work as an IT engineer and software developer have proven to maximize the efficiency requirements of CBM’s Bitcoin mining operation. Steve started his 13-year career at Boeing while still in high school. Boeing, recognizing his potential, subsidized his continuing education in programming, information technology and advanced mathematics. He was subsequently promoted because of his programming and mathematical skills, from quality control to IT manager. During this time, Boeing acquired the new IBM RS6000 and brought Steve on board to work with the Boeing 777 engineers. Steve was an instrumental programmer on the stress test analysis design for the Boeing 777 aircraft using the new computers. Because of his experience, Steve was able to obtain a more lucrative position with a Boeing contractor for the next four years.
Steve formed Pari-Mutuel Gold, Inc. in 1996 and became its President and CEO, which allowed him the opportunity to gain valuable experience that he would use in designing Columbia Basin Mining, LLC’s revolutionary way to mine Bitcoins. At Pari-Mutuel Gold, Steve was successful in developing the #1 bingo site during 2004-2006, which generated over $50 million in wagers. Steve’s interest in Bitcoin began in 2012. He has been working within the online gaming industry focusing on Bitcoin gambling and transactions. In recent years, Steve has directed his focus on CBM and its Bitcoin mining operation.
About Mr. Pete Larsen
Pete, General Counsel to Columbia Basin Mining, has had a distinguished career as a real estate and international business attorney, making him an ideal candidate to oversee all of the legal aspects when we begin to mine Bitcoins. Pete, formerly of BallewLaw PLLC., provides expertise in corporate, real estate acquisition, financing, and business law to CBM. Pete is also a Partner at First Law International, where he specializes in providing legal services to a wide range of multinational clients with valuable cross-border legal support on a global basis to Fortune companies.
Prior to private practice and Pete’s involvement with our Bitcoin mining company, Pete served as Associate General Counsel to Situs, the premier service provider of the top real estate investment banks and private equity groups as consultants in enterprise and process improvement, capital markets and commercial real estate advisory. During his tenure, Pete managed the legal team and leading the complex contract preparation and negotiations and was the lead attorney on a purchase of loan servicing rights of approximately 9.7 billion Euros, more than doubling the company’s European assets under management. Pete holds a Juris Doctor from South Texas College of Law Houston. Additionally, Pete holds a Bachelor of Science in Business Administration with an emphasis in international business. Prior to law school, Pete had more than ten (10) years of successful business management experience giving him a unique perspective on advising his business clients.
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