Samson Mow’s new venture JAN3 is helping build Bitcoin City in El Salvador


Samson Mow, former Chief Strategy Officer of Blockstream and founder of Pixelmatic, said Thursday that he has formed a new company called JAN3 that will focus on accelerating Bitcoin adoption.

The Chinese-Canadian bitcoin entrepreneur told Reuters that JAN3 has already signed a memorandum of understanding to help develop digital infrastructure in El Salvador.

“It is a general statement of intent stating that we will work together to build digital infrastructure for the country and for Bitcoin City.”

Mow added that the decision for JAN3 to work with El Salvador was an easy one: “I just started my company and I was like, ‘Would you like to work together?’ and they said ‘sure’.”

Mow and his new company will work with El Salvador President Nayib Bukele and his government to support the creation of Bitcoin City, a development that will reportedly use geothermal energy from nearby volcanoes to power Bitcoin mining and to supply the city’s infrastructure with electricity.

According to JAN3’s recently created Twitter account, which boasts a rapidly growing 3,300 followers, the company has reportedly raised $21 million in funding valued at $100 million.

The funding round was led by Alistair Milne, the CIO of the Atlanta Digital Currency Fund, Chun Wang, the co-founder of crypto mining company F2Pool, and El Zonte Capital, a new investment fund founded by prominent bitcoin bull Max Keizer and his headed wife, Stacy Herbert.

The news comes as Mow was speaking at the Bitcoin 2022 conference, where he announced that two new jurisdictions — the Caribbean island of Roatán and Madeira, an autonomous region of Portugal — would adopt bitcoin as legal tender. Mow also mentioned Mexico, but the country is still considering the idea.

Related: Bitcoin 2022: Thiel calls Buffett ‘sociopathic’, Mexican billionaire has 60% in BTC

The name “JAN3” refers to January 3, 2009, the day that Bitcoin’s pseudonymous founder, Satoshi Nakamoto, mined the first block — also known as the “Genesis block” — of Bitcoin. Play on this namesake, the company’s first tweet was a not-so-cryptic reference to The times’ headline that day.