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Build on Bitcoin operates as a blockchain infrastructure developer based in London, United Kingdom, focusing on creating a hybrid Layer-2 network that integrates Bitcoin's security with Ethereum Virtual Machine compatibility. The organization provides a comprehensive platform for decentralized application developers to deploy smart contracts that leverage the liquidity and cryptographic consensus of the Bitcoin ecosystem while maintaining interoperability with existing Ethereum-based software tools. To support its network development and broader ecosystem expansion, the enterprise successfully secured $10 million in seed funding to scale its engineering operations and accelerate its mainnet launch. This initial financing round was led by Castle Island Ventures, with additional strategic participation from prominent cryptocurrency investment firms including Mechanism Capital, Bankless Ventures, and CMS Holdings. Build on Bitcoin was officially established in 2023 by co-founders Alexei Zamyatin and Dominik Harz.
Build on Bitcoin has raised $56.9M across 6 funding rounds.
Build on Bitcoin has raised $56.9M in total across 6 funding rounds.
Build on Bitcoin (BOB) is a fully EVM-compatible hybrid Layer-2 (L2) network that combines Ethereum's programmability with Bitcoin's Proof-of-Work (PoW) security through merged mining.[1][2][5] It enables developers to deploy existing EVM decentralized applications (dApps) on Bitcoin's infrastructure with minimal code changes, unlocking Bitcoin's vast liquidity—over $750 billion market opportunity—for DeFi while providing trustless bridging and native Bitcoin asset support.[2][5] BOB serves EVM developers, Bitcoin holders, and institutions seeking secure, scalable Bitcoin DeFi solutions, addressing the gap where only 0.3% of Bitcoin's market cap is currently used in DeFi compared to 30% on Ethereum.[5]
The platform solves Bitcoin's programmability limitations by offering OP Stack-based rollups (optimistic ETH rollups with Bitcoin PoW security, BitVM for verification, and potential ZK-rollups), seamless EVM integration, and tools like the BOB Gateway SDK for one-transaction access to BTC liquidity.[1][2][5] Growth momentum includes a seed round led by Castle Island Ventures with investors like Mechanism Capital and CMS Holdings, a successful Spice Liquidity campaign attracting significant participation pre-mainnet, and partnerships like Marathon Digital building institutional side-chains on BOB for real-world asset tokenization.[2]
Founded around 2019 by Bitcoin veterans Alexei Zamyatin and Dominik Harz—both with PhDs in computer science and building in crypto since 2015—BOB emerged from the need to scale Bitcoin with Ethereum-like developer experience.[1][2] The duo, described as "Bitcoin OGs" deeply embedded in Bitcoin stack innovations, identified merged mining as a way to leverage Bitcoin's security without compromising EVM usability.[2] Early traction built on their 7+ years of experience, leading to the seed investment and pre-mainnet campaigns like Spice Liquidity, which gained momentum in under a month.[1][2]
BOB rides the Bitcoin scaling wave, addressing historical challenges like limited programmability amid rising fees and demand for DeFi on the largest crypto asset.[2][3] Timing aligns with Bitcoin L2 proliferation (e.g., Lightning, RSK, ICP integrations) and innovations like BitVM/Ordinals/Runes, unlocking Bitcoin's $1T+ asset base for EVM dApps amid Ethereum's high costs.[1][2][3][4][5] Market forces favoring BOB include institutional Bitcoin adoption (e.g., miners like Marathon), the $750B DeFi gap, and hybrid models blending PoW security with rollup efficiency.[2][5] It influences the ecosystem by enabling Bitcoin-native DeFi, fostering rollup stacks, and bridging to Ethereum, potentially ushering in the "holy grail" of Bitcoin scaling with robust UX and liquidity.[2]
Mainnet launch and rollup ecosystem expansion position BOB to capture Bitcoin DeFi dominance, with BitVM acceleration and institutional hybrid nodes driving native BTC inflows.[2][5] Trends like RWA tokenization, OP Superchain growth, and PoW-EVM convergence will amplify its trajectory, evolving BOB from a pioneer L2 to a foundational Bitcoin DeFi gateway.[2][5] As the first EVM-compatible Bitcoin L2, its hybrid security and liquidity unlock will redefine building on Bitcoin's power.
Build on Bitcoin has raised $56.9M across 6 funding rounds. Most recently, it raised $25.0M ICO in November 2025.
Build on Bitcoin has raised $56.9M in total across 6 funding rounds.
Build on Bitcoin's investors include Alliance Venture, Amber Group, Anchorage, Asymmetric, Bankless Ventures, CMS, Daedalus, Hypersphere Ventures, IOSG Ventures, Ledger, RockawayX, Sats Ventures.
