For European business owners
Bitcoin at
production cost.
Bitcoin mining is not an investment — it is a business.
Deploy capex and earn Bitcoin at production cost basis.
The shape
Bitcoin mining is, from a business-owner's perspective, an unusually well-behaved business.
You own it. It produces revenue, in BTC, every month. It has no employees, no customers, no accounts receivable, no vacation cover, no HR. Once the hardware is installed and connected, it runs.
The capital you commit at sign is a prepaid business service expense — you don't own the hardware, Montblanc does. The recurring cost is electricity, billed monthly and treated as ordinary operating expense. The output is BTC, settled on-chain monthly to a hardware wallet you control. Operating margins in BTC terms vary across the four-year halving cycle — in periods when BTC trades meaningfully above production cost, the position is highly accretive in BTC terms; in periods when BTC trades near production cost, margins compress. Across a full cycle, the position has historically been net BTC-accumulative for buyers willing to hold across cycles.
Compared to the businesses you already operate, the absence of human variables is the most visible difference. Most other things — a service expense recognised over the term, monthly opex through the P&L, revenue you can audit and reconcile — should feel familiar.
The Principals
Terence Turchi
Founder & Managing Principal
Investor relations and partner relationships. Covers the firm's France and Ireland markets. The point of contact for clients across the term. Based in France.
Richard Ruhl
Co-Founder & Operating Principal
Operations, infrastructure, and production economics. Runs the fleet, the facilities, and the technical conversations when clients need depth. Based in Dubai.
Operating since first payout
—consecutive days
Client uptime guarantee
100% of allocated capacity
Absorbed by firm buffer
—% fleet downtime, since first payout
How a mandate works
Bitcoin production, as a halving-cycle mandate.
A halving-cycle deployment into mining hardware we own and operate in the UAE and Northern Europe. Your business holds the Bitcoin it produces — priced plainly, settled every day.
I
You deploy capital.
Your business commits $250K minimum into a halving-cycle production mandate (sign-date to next halving). Capital deploys into mining hardware procured at supplier cost.
II
We operate.
Hardware runs in our UAE and Northern Europe facilities. Electricity is passed through at cost, itemised every month. Nothing is resold, nothing is bundled.
III
You receive Bitcoin.
Bitcoin produced for your mandate is credited daily on a public, signed ledger, in your business’s name. On the 16th of each month the accumulated balance settles on-chain to a hardware wallet your business controls.
IV
You verify everything.
Every distribution is signed and published to a public record. Your accountant audits the chain in their browser. No Montblanc server in the path.
Investor Portal
Your positions, every day.
Every allocation, every settlement, every verification — in one view, updated daily.
Total Balance
0.00000 BTC
Bitcoin-denominated
YTD Yield
+0.0%
Bitcoin-denominated
Today's Yield
+0.00000
≈ $58.44
Operating Days
0
0.0% uptime
Ledger Integrity
100%
Chain intact
Cumulative Balance
Recent Payouts
Last 7 days| Date | BTC Earned | USD | Cum. BTC | Δ |
|---|---|---|---|---|
| 2026-04-15 | +0.00085939 | $58.44 | 0.02847 | +3.1% |
| 2026-04-14 | +0.00098634 | $66.42 | 0.02761 | +3.7% |
| 2026-04-13 | +0.00098328 | $65.81 | 0.02662 | +3.8% |
| 2026-04-12 | +0.00092145 | $62.30 | 0.02564 | +3.7% |
| 2026-04-11 | +0.00087512 | $59.51 | 0.02472 | +3.7% |
| 2026-04-10 | +0.00091034 | $61.12 | 0.02385 | +3.9% |
| 2026-04-09 | +0.00086221 | $58.04 | 0.02294 | +3.9% |
+0.00639 BTC over 7 days · 7 winning days (100% payout rate)
Updated 00:02 UTC
Daily Settlement
Bitcoin credited every 24 hours to your wallet address.
Signed Records
Every entry signed and published. Verify without asking us.
Withdraw Anytime
Move to your own wallet. No lockup. No notice period.
Monthly Statements
Printable, audit-ready statements delivered monthly.
Independent Verification
Verify before you allocate.
Every position we publish is signed and chained to the one before it. Your browser fetches the record from a public source and confirms it is intact — in about thirty seconds, with no Montblanc server in the path.
Run the audit yourselfFounder-led. Operator-owned.
Built for operating businesses.
We built Montblanc because we saw business owners struggle to find legitimate places to deploy capital productively. The mandate is a service contract — your business pays for contracted hashrate over a halving-cycle term; Montblanc procures and operates the hardware; the BTC produced settles monthly to a wallet your business controls. On your books: a prepaid business service expense, monthly electricity opex, and a BTC asset accumulating at production cost basis.
Your accountant determines treatment in your jurisdiction; we provide the contract, the monthly invoices, the signed daily ledger, and the on-chain settlement TXIDs they need. Registered in Ireland, active in the UAE. The honest state of the firm — what is in place, what is still ahead — lives on the transparency page.
Three Honest Risks
What can go wrong.
Every production business carries risk. Three we disclose before every wire lands — and three more on the full disclosure page, signed by both founders.
I · Spread compression
Bitcoin trades below our cost.
Clients keep accumulating BTC; the USD-equivalent value of monthly settlements falls. Well-capitalised fleets run through these regimes; historically they precede a network difficulty drop that restores margin.
II · Regulatory change
A jurisdiction tightens the rules.
Production runs across two jurisdictions (UAE, Northern Europe) to reduce single-point exposure. It does not eliminate it. Material changes are disclosed to clients in writing.
III · Operational failure
Hardware, facility, or pool fails.
Routine outages are priced in. A catastrophic event — fire, grid collapse, supplier insolvency — could materially reduce production for a period. Redundancy and a continuity reserve are in place.
Signed by Richard & Terence · updated before every proposal
Frequently Asked
Questions clients bring.
Five that come up before most wires land. The rest on the FAQ page.
Montblanc Capital
Start with a private briefing.
Decide in your own time.
A briefing covers the mandate economics, current production conditions, and how a deployment would be sized for your business’s capital and timeline. Thirty minutes, no commitment. We answer questions directly.