Everything in Observer
Business Description
Simple Mining, established in 2020 by founder and CEO Adam Haynes in Cedar Falls, Iowa, operates a vertically integrated Bitcoin mining services platform covering miner sales, colocation hosting, and hardware repair. Facilities are anchored at 2715 Technology Pkwy.
Haynes launched the company from a cell phone repair retail background, using that infrastructure as the basis for an ASIC hosting operation. Simple Mining brought its first hosting facility online in Q4 2021, expanded to a second 5 MW site in Q4 2022, and by Q2 2024 had opened its Cedar Falls headquarters complex with three additional facilities totaling 15 MW, alongside an in-house ASIC repair center staffed by full-time technicians. The company now runs five operational Iowa sites managing 100+ MW and hosting more than 20,000 miners generating 4+ EH/s of hashrate. All-in power rates run $0.07, $0.08 per kWh.
The hosting product bills on verified hashing uptime: customers are charged only when miners are hashing. Simple Mining reports 98% average uptime since inception. All hosted hardware receives complimentary repairs for the first 12 months of service. A client dashboard shows real-time alerts for repairs, curtailments, and wallet payouts; prospective customers can trial the service with 100 TH/s of hashrate for seven days at no charge.
Simple Mining has executed a series of named enterprise contracts. Sphere 3D Corp. (Nasdaq: ANY) engaged the company to engineer, develop, and operate a 12.5 MW Iowa site under a three-year managed service agreement. NetBrands Corp. (OTC: NBND) signed a hosting agreement for a hybrid miner fleet with contractual capacity to scale toward 25 MW. Italian operator Biomine Corp. selected Simple Mining for its 1 MW U.S. market entry. Alps Blockchain, a European mining firm, partnered with Simple Mining on a 70 MW hydro-cooled facility in Iowa. Infrastructure buildouts are executed with Giga Energy, which provides containerized units, transformers, and substation equipment.
Simple Mining ranked No. 175 on the 2025 Inc. 5000 list with a 2,249% three-year revenue growth rate and holds Better Business Bureau accreditation. The leadership team includes COO Nick Garland, CTO Lucas Schwamman, CFO Andy Fligor, and Head of Revenue Matt Garland alongside Haynes.
Two additional Iowa developments are in progress: a site at Manchester Industrial Park, for which Manchester City Council has approved a site plan, and a 40-container data center at the Cascade Industrial Park in Dubuque County. Simple Mining is targeting 500 MW of total power capacity by year-end 2026.
