Jered Kenna, co-founder of the early Bitcoin exchange Tradehill (launched in 2011 and once rivaled Mt. Gox), has pivoted from the crypto space into lifestyle brands. After facing regulatory and banking headaches with Bitcoin, he moved to Colombia to launch a craft brewery called 20Mission Brewing, which combines environmental consciousness with a commitment to accepting Bitcoin payments.
From Bitcoin to Beer: A Founder's Journey
In February 2012, Tradehill announced its shutdown after its bank accounts were closed due to Bitcoin involvement. Kenna remained active in the industry, launching Trade Zero, Bitcoin's first dark pool, and opening Mission20, a San Francisco art and tech co-working space with a prominent 'Bitcoin-Accepted Here' sign. Now, he has relocated to Colombia, a country known for magical realism and the legacy of Pablo Escobar, to pursue a new venture in brewing.
20Mission Brewing: Innovation with Environmental Impact
“We are taking a more innovative approach,” Kenna told Bitcoin.com. “Breweries use a lot of water. Something like eight gallons of water to make a gallon of beer. We need to reduce that.” 20Mission Brewing partnered with the Ecology department at Tecnológico de Antioquia, a local technical university, to reuse as much water as possible and implement rain catchment in the cooling process. Their goal is to use only one-third of the groundwater a typical brewery consumes.
The brewery also features a custom-built electronic control system (TME) using a Chinese PID temperature sensor, developed from scratch by a team member with a background in software recruiting and engineering. Despite having a separate state-of-the-art system, they continue to experiment with the prototype. The beers blend European and American styles with local Colombian fruits like Maracuya (passion fruit) and Lulo (a citrus fruit). Co-founded with Bay Area entrepreneurs Todd Morrill and Jeff Guerra, and a local brewer formerly from Rogue Brewery in Oregon, the brewery aims to launch its first Colombian location in 2017.
Challenging Corporate Dominance
Colombia's beer market is dominated by Miller-owned brand Bavaria, which is considered a premium brand. However, regional craft breweries like BBC (Bogota Beer Company) and 3 Cordilleras are gaining traction and often get acquired by larger companies. Kenna sees opportunity: “It’s going to become a lot more interesting of a market as it’s changing. If renovation stays on track we will be the largest independently owned brewery in Colombia this June.” He confirmed that the brewery will accept Bitcoin “until the Colombian Government tells us to stop.”
Kenna's transition from a Bitcoin exchange founder to a craft brewery entrepreneur exemplifies the diversification of early crypto pioneers into tangible, sustainable businesses, bringing the spirit of decentralization to the beer industry.