Sergei Sergienko’s house says a lot about its crypto philosophy: there is hardly any waste. He plans to buy two bitcoin mining machines – essentially boxes stacked with computer processing power – and bolt them to the side of the house in Kellyville, Sydney.
From the mining machines, he wants to run two cables: one to the roof where he pulls energy directly from the solar panels, the other to the swimming pool, discharging the excessive heat generated by constant mining. Like most crypto players who have spent time on the engineering side – building blockchains, tokenization systems, building markets – Sergienko is easily infuriated by inefficiency.
“Everything in my life is a closed loop system,” says the 40-year-old Russian entrepreneur. AFR Review. “I didn’t like the pool that stayed there all winter, I wanted it to be used, just like I wanted the extra energy that we generate from the solar panels to be used. It can also be used to earn money.
The Russian steel town where Sergienko grew up, Chelyabinsk, was dark, ruthless, and ruled by Russian mobsters. Sergienko’s mother feared that her two sons would be drafted into the Chechen War. His father, a mechanic who owned several garages, was under pressure from local heavyweights who stood guard outside his businesses.
As the Chechen War heated up north of the city, the Sergienko family “gave a damn about it” and, in 1996, they arrived at the Campbelltown Migrant Barracks in western Sydney with $ 10,000 to their credit.
Days after arriving, Sergienko was enrolled at St Gregory’s College in Campbelltown, a high school renowned for producing NRL players, and began his new Australian life with a strong Russian accent and an activist cut.
While the math was nice, smoking and drinking on the weekends was better, and Sergienko finished his 12th grade by Google searching for “the highest paid job in Australia”.
It was during his actuarial and finance studies that Sergienko read a book that would change his life: The art of the transaction by Donald Trump. In it, the 19-year-old discovered the idea, “it’s not how much you have, it’s how much you can borrow.”