Crypto Mining, Presentation and Tour

Nov 11, 2026

Adam Haynes will talk about the origin story of Simple Mining, Bitcoin and Bitcoin mining, how it works, what their company does, and their plans to expand into the AI data center space. After a brief presentation, we will adjourn to the Simple Mining site in the Cedar Falls Industrial Park for a tour.

[AI assisted description follows]

Bitcoin mining, originally launched in 2009, is the computer process that keeps the Bitcoin network running and secure. The process is intentionally simple!

• Gather a block of transactions.
• Create a block header.
• Run the block header through the SHA-256 cryptographic hash function twice.
• Check if the resulting number is below a target value.
• If not, change a number called the nonce and try again.

For the mathematicians

• In 2009, a typical Central Processing Unit (CPU) from Intel and AMD, such as a home computer user might have, could compute a few million hashes per second. This established a "difficulty" factor of 1.
• Soon after, computer scientists discovered that a Graphics Processing Unit (GPU) could compute the hash from 100 to 1000 times faster.
• On the quest for solving these mathematical puzzles ever faster, engineers turned to Field Programmable Gate Arrays (FPGA), which can be thought of as general purpose programmable hardware. FPGAs were then programmed specifically for mining and accelerated the solution rate again.
• Since about 2013, the biggest leap came with Application-Specific Integrated Circuits (ASIC). These are chips designed specifically for the purpose of mining.
• Where those 2009 general purpose computers could compute a few million hashes per second, a modern ASIC can compute 100+ trillion hashes per second.
• Specialized computers, like the water-cooled version shown here, compete to solve complex mathematical puzzles. The first computer to solve a puzzle gets to add a new block of transactions to the blockchain (Bitcoin’s public ledger) and is rewarded with newly created bitcoin plus transaction fees.

[end of AI assisted description]

Miners come in a variety of capabilities

Crypto Farm

Responsible Mining

• 60% Wind and Solar powered,
• As a Demand Response Resource, they can throttle down when energy is scarce,
• Zero evaporative water use using closed-loop cooling,
• 95% uptime

For Simple Mining customers, uptime is important, and should a failure occur, Simple Mining has one of the largest ASIC repair facilities in the U.S., right here in Cedar Falls, Iowa.

Cedar Falls Family Restaurant

2627 Center Street

Cedar Falls, Iowa

CASH Payment for the meals! 

This price includes the room rental and gratuity for the servers.

Adam Haynes

Adam Haynes, Founder & CEO Simple Mining, a serial entrepreneur born in Iowa, with businesses headquartered in Cedar Falls.

Dinner includes water, soda pop, coffee or tea.

Salad with choice of dressing 

Garlic bread with butter

Chicken fricassee

Cooked carrots

Cheesecake for dessert

2715 Technology Pkwy
Cedar Falls, Iowa