Hemi Labs Raises $15M to Expand Bitcoin Programmability
Hemi Labs has secured $15 million to accelerate work on its “supernetwork,” an ambitious project designed to combine Bitcoin’s unmatched security with Ethereum-like smart contract functionality. The company’s vision is to expand Bitcoin’s capabilities beyond being a store of value, opening the way for developers to create decentralized finance (DeFi) solutions directly on the network.
By enabling programmability, Hemi Labs plans to support new borrowing, lending, and trading applications built around Bitcoin. The fresh funding will fuel research, infrastructure, and ecosystem development, positioning the supernetwork as a powerful bridge between Bitcoin’s trusted foundation and Ethereum’s flexibility. This move could significantly boost Bitcoin’s role in DeFi while driving broader adoption of decentralized financial tools.
Who funded the round and why it matters
Backers in the round include YZi Labs (formerly Binance Labs), Republic Digital, HyperChain Capital, Breyer Capital, Big Brain Holdings, Crypto.com and others. The fresh capital will be deployed to speed up product releases, grow the developer ecosystem, and deepen liquidity across Hemi-powered applications. Founder Jeff Garzik—an early Bitcoin core developer—says Hemi’s approach lets DeFi teams use familiar EVM tooling while preserving Bitcoin’s settlement assurances.
Highlights
Round size: $15 million
Use of funds: expand apps for borrowing, lending, and trading
Strategic focus: developer experience, liquidity growth, and security
How hVM works: bringing Bitcoin into EVM workflows
At the core of Hemi is the Hemi Virtual Machine (hVM), which embeds a Bitcoin node inside an Ethereum Virtual Machine environment. Developers keep their standard Solidity workflows, wallets, and infra, while tapping Bitcoin’s base-layer security. In practice, this model is designed to streamline Bitcoin programmability for DeFi without forcing teams to learn a new stack or compromise on decentralization.
Traction: users, partners, and TVL
Hemi reports 100,000+ verified users, a community of 400,000, and an ecosystem of 70+ partners including Sushi, LayerZero, MetaMask, and Redstone. Total value locked has climbed to $1.2 billion, reflecting early demand for Bitcoin programmability for DeFi among mainstream DeFi protocols and BTC-native builders alike.
Competitive landscape: BTC DeFi heats up
Hemi’s growth mirrors a broader wave of projects activating idle BTC. Lombard (with its LBTC liquid staking token) and BOB (a hybrid chain spanning Bitcoin and Ethereum) are also building infrastructure to transform Bitcoin from a passive store of value into an active onchain asset. Hemi’s bet is that familiar tooling plus Bitcoin programmability for DeFi can reduce friction for developers and draw liquidity faster.
What’s next for builders
With new funding, Hemi plans to ship more primitives money markets, DEX features, and cross-chain tooling so teams can compose apps that route collateral and settlement through Bitcoin. For DeFi teams, the combination of EVM tools and Bitcoin programmability for DeFi could shorten build times while expanding the addressable market of BTC holders.
The bottom lines
Hemi’s recent $15 million raise, along with increasing total value locked (TVL) and growing partner support, signals that Bitcoin is moving closer to practical use in advanced financial applications. These developments point toward a shift in how Bitcoin can be leveraged, moving it beyond a simple store of value.
If Hemi delivers on its vision, Bitcoin could serve as the secure foundation for the next generation of decentralized finance. By combining BTC’s trust with familiar developer tools, the network may enable a wave of borrowing, lending, and trading apps that expand Bitcoin’s role across the DeFi ecosystem.
FAQs
Q1 . What is Hemi’s hVM and how does it enable Bitcoin programmability for DeFi?
A1 . hVM embeds a Bitcoin node inside an EVM environment, letting developers use Solidity and wallets like MetaMask while unlocking Bitcoin programmability for DeFi.
Q2 . Why is Bitcoin programmability for DeFi important now?
A2 . It channels BTC’s security and liquidity into smart contracts, so users get safer lending, trading, and staking powered by Bitcoin programmability for DeFi.
Q3 . Who invested in Hemi Labs’ $15M round?
A3 . YZi Labs (formerly Binance Labs), Republic Digital, HyperChain Capital, Breyer Capital, Big Brain Holdings, Crypto.com and others backed the Bitcoin programmability for DeFi push.
Q4 . How much TVL and adoption does Hemi report?
A4 . Hemi cites over $1.2B in TVL, 100K+ verified users, and 70+ partners—signs that Bitcoin programmability for DeFi is gaining traction.