Adrien Nejkovic, Co-founder and CEO of Hearst, is a tech entrepreneur who has successfully transformed his company from a young startup into a rapidly scaling powerhouse. His personal journey, fueled by an insatiable passion for technology, has driven Hearst to the elite class of the crypto mining industry.
Under Nejkovic’s leadership, Hearst has taken a bold approach to crypto mining, embracing innovation and transparency as core values. In an industry often clouded by complexity and exclusivity, Hearst aims to build trust and foster engagement among the crypto friendly and enthusiasts regulated institutions. To meet this demand, Nejkovic and his team have developed a mining-as-a-service platform that provides world-class infrastructure while setting new standards for transparency in the crypto space.
With its forward-thinking solutions and commitment to institutional customers, Hearst is not just offering cutting-edge technology but also reshaping the future of crypto mining with an emphasis on trust, excellence, and world-class service.
Can you tell us a bit about yourself?
I'm Adrien Nejkovic, 35 years old, soon turning 36, and I'm the CEO and Co-Founder of Hearst Group., a company pioneering cryptocurrency mining and AI computing from our base in Dubai, UAE. My story starts in Paris, where I grew up in a family of entrepreneurs rooted in the hospitality industry. Business was in my blood, but I followed my own path, diving into finance and foreign exchange as my starting point.
After launching a few companies and managing my family office fund, my journey took a sharp turn toward the future—cryptocurrency. What began as an interest quickly evolved into a full-fledged venture in crypto investment and mining, where I found my true passion.
Beyond the numbers and tech, I'm deeply connected to the world of modern art. In fact, I once ran a gallery in New York City. Whether it's crypto or canvases, I thrive at the intersection of creativity and innovation, constantly pushing boundaries and redefining what's possible.
Can you share a personal story that significantly influenced your career in the cryptocurrency industry?
I started mining cryptocurrency in late 2016, diving deep into the tech from GPU to ASIC hardware. The real game-changer for me was the 2017 bull run. Seeing blockchain’s explosive impact during that time was life-changing, solidifying my belief that crypto wasn’t just a trend—it was the future. That experience set the foundation for my career in the industry.
What was the most unconventional job you had before becoming a CEO, and what did you learn from it?
One of the most challenging roles I had was running a foreign exchange company right after completing my education. This experience taught me the critical importance of passion and commitment for achieving success. It also highlighted the value of fostering a strong company culture that prioritizes both customer satisfaction and employee well-being.
As I often say, 'A company’s success is a direct reflection of the satisfaction and engagement of its employees.' This belief has guided me throughout my career and is central to how I lead at Hearst Group. Another lesson I learned is, 'Investing in your team is investing in your future.' These insights have been fundamental in shaping my approach to leadership and business.
How did your background in hospitality turn out to be an asset when you transitioned into the mining industry? How did you get involved with mining in Dubai, and why?
My background in hospitality was indeed a tremendous asset. It taught me valuable lessons about running a profitable business, managing teams, and leading ventures to success—skills that are universally applicable across industries. Transitioning into mining, I leveraged these insights to navigate the complexities of a new field. My move into the mining industry in Dubai was driven by a combination of curiosity and the desire to be at the forefront of technological innovation. Dubai’s dynamic environment and strategic position made it an ideal location to launch and scale our operations in the rapidly evolving crypto space.
What is your biggest client today?
We work with several significant clients, including Neo Banks, centralized exchanges, and investment funds. While their scale varies, they share a common trait: impressive growth rates. The results they achieve with our products significantly support their expansion efforts, showcasing the effectiveness of our solutions in driving their success.
Your business model focuses on big institutional organizations. What are the specific requirements for these customers, and how does working with large institutions differ from collaborating with small business representatives or individuals?
Working with large institutions requires a high level of seriousness and organization. Our clients are professional, regulated entities with very targeted and precise requests. This demands that we consistently meet high standards and adapt to their specific needs, which pushes us to elevate our services continually.
While we work with institutions of varying sizes, what truly sets these clients apart is their regulatory framework. Compliance with these rigorous standards is crucial, and it shapes how we operate. We also serve family offices, which, despite their smaller scale, expect the same high level of service due to the rigorous standards set by our institutional clients. Ultimately, it's not the size but the regulatory demands that define our approach and drive our commitment to excellence.
How is your business performing today in terms of growth and market share?
Our company is doing great: By August 2024, our flagship Mining-as-a-Service (MaaS) business has secured $50 million in contracts, marking a 233% increase in revenue compared to 2023. This impressive growth is a testament to our strong market position and operational success. We are not only profitable but have also generated substantial cash flow, ensuring our financial stability and securing our business for the future.
What are some of the biggest challenges your company has faced, and how have you overcome them?
One of our biggest challenges was identifying and securing the right partners to meet our customers' needs. From sourcing data to selecting hardware suppliers and choosing hosting facility partners, it was a complex journey. We overcame this by meticulously evaluating potential partners to ensure they met our high standards. Through a rigorous assessment process and due diligence, we established relationships with premium partners who align with our mission, enabling us to deliver top-tier solutions to our clients.
Can you share some insights into the profitability of your mining operations? What strategies have you implemented to ensure sustained profitability?
Our service has been highly profitable, delivering around 100% return over the past year with a promising outlook for the future. The key to this success is our meticulous attention to detail at every stage of our process. We ensure top-notch quality in the hardware we provide and maintain strong, reliable partnerships with our hosting providers. By focusing on these critical aspects, we create a superior service that drives profitability and positions us well for continued success.
What secrets or best practices can you share for running a successful business?
One of our key best practices is meticulous cost control. In our industry, prices can fluctuate significantly, so it's crucial to manage our funds carefully to ensure long-term sustainability and growth. Equally important is valuing our team; the core team at Hearst is instrumental to our daily success. Their dedication and expertise drive our achievements and are central to our continued progress.
How do you approach team management, and what do you believe are the key factors to building and leading a successful team?
I rely on the ECA approach for team management: Empowerment, Communication, Accountability. We empower our team members by defining clear roles, objectives, and expectations. Open communication is encouraged across the company to ensure alignment and cohesion. We hold everyone accountable for their responsibilities and the success of their missions. Equally important is our commitment to learning from one another and from our failures. Continuous growth and learning are integral to our company culture, driving both individual and collective success.
How do you see the future of crypto mining evolving, and what role do you envision your company playing in that future?
As the first company in Dubai to have been issued a CryptioMining Facility Operator license by the DMCC Crypto Center we operate as a regulated entity. We are committed to meeting even higher standards of regulation as we prepare to expand into roles such as crypto trading or custodianship. We conduct thorough KYC (Know Your Customer) and KYB (Know Your Business) procedures for all clients and implement rigorous due diligence for our partners to ensure AML (Anti-Money Laundering) compliance. This proactive approach helps us navigate regulatory challenges effectively and maintain our commitment to compliance across all our operations.
Can you discuss any upcoming projects or innovations your company is working on?
Certainly! We’re currently focused on raising funds to develop our own self-mining infrastructure, which will help us to fuel our future growth. We’ve just released an advanced multi currency platform and are actively working on AI models to predict Bitcoin price trends through sentiment analysis. Additionally, we've introduced mining NFTs, which allow our clients to offer mining capacity to their Web3 customers. These initiatives are set to enhance our service offerings and strengthen our position in the industry. We have also recently onboarded talented energy and sustainability professionals to steer our roadmap, to push the boundaries of our industry, and lead the way from a sustainability standpoint.
To conclude our interview, what is one piece of advice you would offer to aspiring entrepreneurs in the tech and cryptocurrency sectors?
My advice would be: Embrace hard work and stay focused. In the world of technology and cryptocurrency, nothing is impossible if you're dedicated and relentless. The journey may be challenging, but with determination and a clear vision, you can turn even the boldest dreams into reality.
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