The company has been operating since 2014 and provides a cloud mining service.
Josh was raised in a small town outside of Rutland, Vermont, by his grandparents after his mother died when he was two years old.
Check out: Josh Garza – Crunchbase Person Profile
His father, who had been out of his life for the first two years of Josh’s life, served overseas in the military and joined him and his brother back in Rutland shortly after their mother passed away.
Josh Garza is the founder of GAW Miners.
The company is a mining service that uses mining hardware and miners to mine cryptocurrency.
In 2014, he came up with the idea to create a way for people who did not have the money or time to mine bitcoin to be able to do so. He made his algorithm hash let one of the first cloud mining algorithm hash lets on the market, and in less than a year, he had over 10,000 customers.
The company quickly grew, and by 2016, it had 200,000 customers.
The company continued to grow in 2017, and by March of 2018, the company was doing more than $10 million worth of trade daily.
The business was also rising worldwide, with offices in the United States, Canada, China, and Russia.
However, Josh’s cloud mining business eventually became a scam after he hired a former senior software engineer from Amazon.
Josh asked to help speed up the development of GAW Miners products.
After helping develop algorithms for GAW Miners products, this individual left GAW Miners under unknown circumstances.
A few months later, he returned and defrauded GAW Miners of around $9 million.
This money was used to pay back some of GAW’s customers who felt the company had scammed them.
In 2016, Josh Garza and GAW Miners started a new business venture called PayBase, offering a new digital currency called PayCoin.
The money was used to allow customers to make payments on the PayBase platform and let them purchase goods and services provided through this platform.
After the release of PayCoin, Josh released a white paper (a document that contains pertinent information about a security or group of securities) regarding this new currency that showed that it would be tied to USD at a 200-to-1 ratio.
One unit of PayCoin would be equivalent to $20 in USD.