Jeff Garzik's Hemi Labs Launches $440M Mainnet to 'Merge' Bitcoin and Ethereum

Binance Labs-backed Hemi Network launches $440 million mainnet to 'merge' Bitcoin and Ethereum

Hemi Labs has partnered with dozens of protocols, including decentralized exchange (DEX) Sushi, liquid staking token pumpBTC, and oracles RedStone and Pyth.

Author: Jamie Crowley | Edited by: Sheldon Reback Updated: March 13, 2025, 10:39 UTC Published: March 12, 2025, 16:00 UTC

Key points:

• Modular blockchain Hemi has unveiled its mainnet with a TVL of $440 million.
• Hemi aims to “unite” Bitcoin and Ethereum into a “single supernetwork.”
• Hemi is built on top of Bitcoin and Ethereum to integrate the best features of both, using the security of Bitcoin and the programmability of Ethereum.

Modular blockchain Hemi Labs has unveiled its mainnet with a total value locked (TVL) of $440 million.

Hemi, founded by early Bitcoin developer Jeff Garzik, aims to merge Bitcoin and Ethereum, the two oldest and largest blockchains, into a “single supernetwork,” according to an emailed statement.

By subscribing, you will receive emails about CoinDesk products and you agree to our terms of use and privacy policy .

Hemi is built on top of Bitcoin and Ethereum to combine the best features of both, using Bitcoin’s security and Ethereum’s programmability. The project raised $15 million in a funding round led by Binance Labs last September.

The project is one of several aimed at transforming the broader blockchain ecosystem, particularly in the area of decentralized finance (DeFi), by combining Bitcoin and Ethereum, driven by the deep stores of value stored in Bitcoin (BTC), which far exceed the stores of all other digital assets combined.

However, Bitcoin's coding does not natively provide some of the features needed for DeFi, such as smart contracts or zero-knowledge proofs, creating the need to build a bridge between this utility and Ethereum.

The company has partnered with dozens of protocols to deploy on Hemi, including decentralized exchange (DEX) Sushi, liquid staking token pumpBTC, and oracles RedStone and Pyth.

Источник