21Inc applies for patents related to digital currency mining routes

     21Inc, the most well-funded Bitcoin company, recently filed a patent application with the United States Patent and Trademark Office (USPTO) for a certain digital currency mining route.

     The USPTO, which issues patents to investors and businesses and registers trademarks for products and intellectual property, published 21Inc’s application on Oct. 15.

     The application documents submitted in April last year included the names of Matthew Pauker, Nigel Drego, Veerbhan Kheterpal and Daniel Fir, all of whom are co-founders and core members of 21Inc.

The document states:

     “ This invention relates to a technique for mining digital currencies (such as cryptocurrency). The mining circuits and mining operations may be used in any digital medium of exchange, such as currency, credit, payment, or loan fees. ”

     Although the application has been published by the USPTO, 21 Inc is still waiting for approval, which could take years. But the review process also gives people who think there are problems with the application the right to oppose the patent application.

     The startup, which has raised $116 million to date, released its first product, a computer for developers, last month to mixed reviews.

     21 Inc’s patent application comes after news reports that Coinbase has filed applications for nine different bitcoin product patents.

     CoinDesk reached out to 21 Inc for comment but they did not respond by press time.