DARIN FEINSTEIN was an early investor in Bitcoin, seeing the potential of cryptocurrency and blockchain technology long before it became mainstream.
But what’s the story behind his net worth?
Who is Darin Feinstein?
Darin Feinstein was born in LA, California on January 2, 1972.
Eager to always learn, Feinstein spent almost a decade of his life studying at three different prestigious universities. Between 1990 and 1993 he studied at the University of Wisconsin-Madison, before studying an accounting course at the University of Arizona between 1993 and 1995, and then reading law at the Southwestern Law School between 1995 and 1998.
After finally finishing his education, Feinstein took on a career in accountancy and in law, working in the sector for 20 years.
It was during his career that Feinstein first took an interest in Bitcoin. In 2012, while many people still had not heard of cryptocurrency, the lawyer started mining Bitcoin.
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He explained in an interview that it took him time before he first saw the benefits of crypto.
He said: “My reaction when I looked up Bitcoin in 2011 mirrors the same reaction that almost everybody has, some kind of consummate professional in whatever industry they are.
“My reaction initially was: I Googled it and I said, Wow, this looks like digital video game money, first, and second, it looks like people just use it to buy drugs on the Internet.”
But after months of research, Feinstein changed his opinion: “I started reading about the ledger technology of Bitcoin and it all of a sudden—over like a one-day period I remember I was reading this—I was like, Wow, this is not digital video game money. This is an accounting technology. This changes how people will keep records forever.
“It took me months. I read everything you could read. I consumed all of the information you can consume.”
Feinstein continues to believe that while the price of cryptocurrencies themselves may fluctuate, the blockchain technology behind them will forever of use.
After several years of investing in crypto himself, in 2017, he also set up Core Scientific (CORZ), the largest US publicly traded Bitcoin mining company in terms of computing power.
While initially a success, in 2022 the company lost over $1.7billion.
In March 2020, Feinstein also founded Blockcap Inc, a digital asset mining company headquartered in Austin, Texas. Blockcap combined the assets of five pre-existing Bitcoin mining companies.
Core Scientific acquired Blockcap through a stock merger in 2022 and now both companies operate as Core Scientific, $CORZ.
What is Darin Feinstein’s net worth?
Darin Feinstein is thought to have a net worth of £15million.
Most of his money comes from the value of his shares in Core Scientific Inc.