HashCoins
| Trading name | Formerly HashCoins OÜ. Register name on 18 September 2026: Burfa Tech OÜ |
| Founded | 13 June 2013 (Estonian register entry) |
| Headquarters | Tallinn |
| Website | Estonian e-Business Register, 12490015 |
HashCoins was the name of an Estonian private limited company that sold ASIC mining hardware and, on its own former website, hosted mining and a cloud-mining brand. On 18 September 2026 the Estonian commercial register still showed the legal person as entered, under the name Burfa Tech OÜ, registry code 12490015, with HashCoins OÜ and Euro Host UÜ listed as invalid former names.[1]
Register
The register card showed:
| Field | What the card showed |
|---|---|
| Name | Burfa Tech OÜ |
| Registry code | 12490015 |
| Former names marked invalid | HashCoins OÜ. Euro Host UÜ |
| Status | Entered into the register |
| Registered | 13 June 2013 |
| Form | Private limited company |
| Capital | 2,508 euro |
| Address | Tartu mnt 83, Kesklinna, Tallinn, 10115 |
| Website field | burfa.com |
The card's status line is "Entered into the register", not a deletion.
History
According to the company site as summarised on the earlier article, HashCoins was founded in 2013 by Sergei Potapenko, and the team grew from five people to twelve plus contract workers. It also said suppliers caused shipment interruptions in 2014. A CoinDesk story previously linked beside that interruption is an article about HashFast's bankruptcy, not a HashCoins filing.[2]
Hardware
HashCoins' SHA-256 equipment was described as 28 nm ASIC hardware based on HashFast's Golden Nonce chip, on a board of the company's own design.
Software
The team built a web interface for remote administration of mining machines. The panel was rewritten, bugs were fixed, and the panel worked with SHA-256 machines the company had made, except a model called Uranus v1. Testing was described on a Raspberry Pi and a Raspberry Pi 2. The install path on the old page was a system image from a HashCoins GitHub repository, written to an SD card.[3]
Hosting
In 2014 the company offered hosted mining starting at 1 TH/s of SHA-256 hashrate. A contract was described as the hardware plus one year of hosting.
Cloud mining and the HashFlare name
From January 2015 the company site offered a service called HashFlare.io. According to that page, customers could buy SHA-256, Scrypt or Scrypt-N hashrate, with no set contract length, a stated electricity fee, a 99 percent uptime claim, and a minimum of 10 GH/s, plus a referral payment of 10 percent of a friend's purchase.
The company site used both the HashCoins and HashFlare names. The United States Department of Justice press release on the plea below names HashFlare and does not name HashCoins.
The 13 February 2025 plea
On Thursday 13 February 2025 the United States Department of Justice said Sergei Potapenko and Ivan Turõgin had pleaded guilty in a cryptocurrency fraud scheme built around HashFlare. The release says that between 2015 and 2019 HashFlare's sales totalled more than US$577 million, and that the service did not have the computing capacity to do most of the mining customers were told it was doing. It says the web dashboard showed profits that were falsified. The two men each pleaded guilty to one count of conspiracy to commit wire fraud, and they agreed to forfeit assets the release valued at more than US$400 million as of the plea. The release says sentencing was scheduled for 8 May.[4]
The release does not name HashCoins. It does not say the Estonian company now called Burfa Tech OÜ was the HashFlare operator.
See also
- Mining hardware
- Cloud mining
External links
- Estonian e-Business Register, 12490015
- DOJ press release, 13 February 2025
- Historical controller image repository