CEO and Co-Founder of TRUE North Mining — Sergey Vorozhtsov

Sergey was born in Kirov, Russia, a city about 900 km northeast of Moscow, in 1974. After graduating from the Kirov School of Physics & Mathematics, Sergey entered the prestigious Moscow Institute of Physics & Technology, where he specialized in physics and energy.

After completing his master of science degree on the subject of magneto-exciton in strong magnetic fields, Sergey entered the Ph.D. program at the physics department at Duke University in Durham, NC. There he specialized in theoretical condensed matter physics under the guidance of Professor Harold Baranger. Sergey published a total of five articles in refereed scientific journals including Physical Review B. In 2005 he successfully defended his Ph.D. thesis on the subject of quantum computations with quantum dots, thus earning his doctorate.

Overall, life in the United States was of great importance and significance to Sergey. He saw how ordinary Americans would work two or three jobs to keep their families afloat. He credits his strong work ethic to this period of his life.

After finishing his Ph.D., Sergey realized that he did not find himself fully fulfilled in the scientific world, and that he wanted something more. That same year, he immigrated to Canada and started S3 Stores, Inc., an online retailer which began as a specialty art supplies resource serving mostly the US and Canadian market. Working in a highly competitive field, the company long hung near zero profitability, but survived and even prospered against juggernauts like Michaels, Dick Blick and Jerry’s Artarama, thanks primarily to Sergey’s perseverance and ability to assemble a strong team.

In 2012 Sergey radically changed his life again, and returned back to his Russian homeland. He continues to manage S3 Stores, Inc. but has started several other new ventures as well. Compared to Canada, Sergey has found business opportunities in Russia in greater abundance.

His most recent interest is in the field of blockchain technology. One day, Sergey watched a local television report on how many small local hydropower plants were closed in the 1960s to make way for larger, centralized mega-dams. Soon after an idea was born: to restore these small hydro plants and put them to work mining Bitcoins and Altcoins. It took several months of discussions with hydro engineers and lawyers to make sure that the plants could be acquired and restored. Then, after assembling a strong executive team, TRUE North Mining was born.

In some ways, True North Mining is a culmination of Sergey’s rich life experience - from his education in the field of physics and mathematics, to his experience running his own businesses, to his knowledge of life and work in the United States and Canada, to his return to his native Russia in search of untapped potential there.

Sergey is a strong believer in zero carbon footprint green energy. He believes that the new money being generated by cryptomining must be green. Otherwise, what’s the point of cryptocurrency innovations?