256 Foundation (EIN: 99-1662333) is a 501(c)(3) public charity which funds free and open-source Bitcoin mining related initiatives and provides education resources to demystify Bitcoin and freedom tech.
We believe Bitcoin mining has become dangerously centralized in several aspects: Hardware/firmware centralization controlled by one Chinese company with ~90% market dominance, mining pool centralization with ~90% of global hashrate controlled by four mining pool operators and their proxies, and mining reward centralization with ~40% of bitcoin mining rewards going to a single custodian. Our mission is to dismantle the proprietary mining empire and that starts with open-sourcing the whole Bitcoin mining stack. Our first four grant initiatives were for a standardized open-source hashboard, an open-source control board, open-source firmware, and an open-source one-click deployable mining pool. The development will not stop until Bitcoin mining is free and open.
Donations to the General Fund are disbursed to grant recipients periodically by the board of directors, typically in 6, 9, or 12 month cycles per project. Open application periods are announced on social media and on the POD256 podcast, applicants are evaluated and qualified candidates are interviewed to ensure grants are awarded to individuals who will make the biggest impact. Grant recipients are awarded fair-market value for the work they agree to contribute. You can find a list of current grant recipients by following the project links provided on the Grants page.
100% of the donations made to the Genral Fund go to support the individuals working directly on the open-source Bitcoin mining related initiatives. There is no cut taken for administrative costs nor for board members.
Grant awards are given to recipients based on their preferred method, either bitcoin or fiat. We accept donations in fiat or bitcoin. For security reasons, the exact dollar (or sat) amounts awarded to individual recipients are kept confidential. In accordance with IRS requirements, annual tax disclosures are available for public inspection.
The 256 Foundation respects your privacy and ability to operate as a nym. At the same time, as a 501(c)(3) public charity, The 256 Foundation is obligated to file taxes. This means tax payer information will be required from grant recipients. To balance your privacy with The 256 Foundation's obligations, one solution is for you to start a Wyoming LLC so you can share that entity's information instead of your personal tax payer information.
Email is the best way to reach us: admin@256foundation.org
You can also write to us at: PO Box 128406 Nashville, TN 37212
Yes, all donations to the 256 Foundation are tax-deductible as allowed by law. Our Tax ID number is 99-1662333. No products or services are exchanged in return for donations. We recommend consulting with a tax professional to determine the exact deductibility of your contribution and to ensure compliance with all relevant laws and guidelines.