BitHarvest fails to provide verifiable ownership or executive information on its website.

Instead, BitHarvest offers up an executive team with names nobody has heard of:

That’s of course because BitHarvest’s executive team doesn’t exist.

BitHarvest CEO “Logan Lee” is actually Singaporean national Steve Ng.

Ng is a poker player who recently competed in the Asian Poker Tour Taipei 2024 tournament.

From the use of Chinese on BitHarvest’s website…

…we can surmise whoever is actually running BitHarvest is either:

  1. Chinese scammers operating out of Singapore;
  2. Singaporean scammers operating out of Singapore; or
  3. a combination of Chinese and Singaporean scammers operating out of Singapore

Two other names attached to BitHarvest worth noting are Jan Gregory and Marcos Caleb.

Marcos Caleb runs a YouTube channel on which he promoted MLM crypto Ponzi schemes.

Recent MLM crypto Ponzi schemes Caleb has promoted include Trade Like Crazy (collapsed), Titan369 and EchoOne (collapsed).

Jan Gregory, aka Jan Strzepka and Jan Gregory Cerato, is a Canadian national and serial promoter of Ponzi schemes.

In September 2022 the Alberta Securities Commission fined Gregory $165,000 for securities fraud.

Gregory promptly fled Canada and relocated to Dubai. From the MLM crime capital of the world, Gregory spent most of 2023 working with Russian Ponzi scammers based out of Dubai and Turkey.

Gregory’s 2023 MLM crypto Ponzi crimewave saw him front CoinMarketBull, Maxspread Technologies, Vortic United, CloudFi and SureX.

Gregory’s Ponzi scamming from Dubai attracted the attention of regulators in California and Russia.

While Gregory no doubt profited handsomely for recruiting victims into Russian Ponzi schemes, towards the end of his 2023 run cracks in Gregory’s curated carefree social media facade emerged.

This culminated in Gregory publicly issuing a death threat against BehindMLM in June 2023. While I can’t comment on any ongoing investigations into Gregory, I can confirm the threat was forwarded to relevant US federal authorities.

As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money.

BitHarvest’s Products

BitHarvest has no retailable products or services.

Affiliates are only able to market BitHarvest affiliate membership itself.

BitHarvest’s Compensation Plan

BitHarvest affiliates make partial and full position investments.

A partial investment position in BitHarvest costs 90 USDT plus $10 in BTH.

A full investment position in BitHarvest costs 900 USDT and $100 in BTH.

BTH is an internal BEP-20 shit token created by BitHarvest.

100 USDT investment are referred to as partial positions. A 900 USDT investment (or nine 100 USDT investments) represents a whole position.

This is done on the promise of a variable daily passive return, paid out in bitcoin.

The MLM side of BitHarvest pays on recruitment of affiliate investors.

Note that BitHarvest only pays out 70% of earned commissions. The other 30% is sent to a locked “register wallet”, of which only 50% can be used to reinvest in new BitHarvest positions.

BitHarvest Affiliate Ranks

There are six affiliate ranks within BitHarvest’s MLM opportunity.

Along with their respective qualification criteria, they are as follows:

  1. Investor – sign up as a BitHarvest affiliate and invest in at least one partial investment position
  2. 1 Star – invest in at least one full BitHarvest investment position, personally sell three positions and generate at least ten downline investment positions
  3. 2 Stars – invest in at least three full BitHarvest investment positions, personally sell at ten positions and generate at least eighty downline investment positions
  4. 3 Stars – invest in at least five full BitHarvest investment positions, recruit at least two 2 Star or higher ranked affiliates and generate at least two hundred and fifty downline investment positions
  5. 4 Stars – invest in at least fifteen full BitHarvest investment positions, recruit at least two 3 Star or higher ranked affiliates and generate at least eight hundred downline investment positions
  6. 5 Stars – invest in at least thirty full BitHarvest investment positions, recruit at least two 4 Star or higher ranked affiliates and generate at least two thousand five hundred downline investment positions
  7. 6 Stars – invest in at least fifty full BitHarvest investment positions, recruit at least two 5 Sar or higher ranked affiliates and generate at least eight thousand downline investment positions

Referral Commissions

BitHarvest pays referral commissions on USDT invested by personally recruited affiliates.

  • 1 Stars receive a 10% referral commission rate
  • 2 Stars receive a 12.5% referral commission rate
  • 3 Stars receive a 15% referral commission rate
  • 4 Stars receive a 17.5% referral commission rate
  • 5 Stars receive a 20% referral commission rate
  • 6 Stars receive a 22.5% referral commission rate

Note that referral commissions are coded. This means that a 22.5% referral commission is always paid out, allowing higher ranked BitHarvest affiliates collect the difference paid to lower ranked downline affiliates.

ROI Match

BitHarvest pays an up to 30% match on daily returns paid to downline affiliates.

  • 1 Stars receive a 10% ROI match
  • 2 Stars receive a 15% ROI match
  • 3 Stars receive a 20% ROI match
  • 4 Stars receive a 25% ROI match
  • 5 Stars receive a 28% ROI match
  • 6 Stars receive a 30% ROI match

As with referral commissions, the ROI Match is also coded. This means that a 30% match is paid on every ROI payment, allowing higher ranked BitHarvest affiliates to collect the difference paid to lower ranked downline affiliates.

Joining BitHarvest

BitHarvest affiliate membership is free.

Full participation in the attached income opportunity requires a minimum 100 USDT investment.

BitHarvest Conclusion

Evidently for 2024 Gregory has switched out his Russian accomplices for Asian scammers operating out of Singapore. Other than that BitHarvest is the same old Boris CEO Ponzi playbook.

BitHarvest’s Ponzi ruse is a magical USB device that something something AI bullshit something something…

…connects to offsite ASIC mining units and increases their output.

For the first time, Bitcoin miners can mine without paying a high price for an ASIC machine: no expensive electricity bills, no physical space requirements.

Bitcoin miners on BitHarvest can only utilize Bitbooster on a self-run basis to increase the mining efficiency of the Bitcoin mining farm and receive Bitcoin yield in return.

BitHarvest claims it earns commissions for doing this, which is what funds ROI payouts.

The ruse quickly falls apart upon consideration that if BitHarvest’s USB devices actually did what is claimed, BitHarvest would just quietly run them and collect profit.

Or better still, the miners themselves would use the tech. Why share profits with random members of the public?

The answer lies in BitHarvest’s USB devices being marketing props.

Bitcoin mining has been concentrated within a handful of large-scale groups for years. They aren’t letting some random outfit in Singapore, fronted by an actor no less, access their hardware through make-believe USB devices.

Taking a step back from the obvious, even if you did buy into BitHarvest’s marketing ruse – where’s the proof?

BitHarvest’s passive returns investment scheme constitutes a securities offering.

The only way for consumers to verify BitHarvest’s marketing claims is if the company files audited financial reports with regulators.

This isn’t just the only way to verify BitHarvest’s martketing claims, it’s a legal requirement.

The best BitHarvest can come up with is a FINCEN MSB registration number:

This is meaningless for two reasons:

  1. FINCEN isn’t a financial regulator; and
  2. the MSB registration corresponds with BitHarvest LTD, a equally meaningless Colorado shell company

As of April 2023, SimilarWeb tracked top sources of traffic to BitHarvest’s website as Taiwan (83%, down 58% month on month), Norway (6%), Kenya (5%) and Hungary (3%).

In addition to Singapore, BitHarvest fails to provide evidence it has registered its securities offering in any of these countries.

As it stands, the only verifiable source of revenue entering BitHarvest is new investment.

Using new investment to pay ROI withdrawals would make BitHarvest a Ponzi scheme. Additionally with nothing marketed or sold to retail customers, the MLM side of BitHarvest operates as a pyramid scheme.

As with all MLM Ponzi schemes, once affiliate recruitment dries up so too will ROI revenue.

This will leave BitHarvest unable to pay ROI withdrawal requests, eventually prompting a collapse.

BitHarvest’s collapse will like be preceded by a withdrawal switch to its BTH shit token:

The math behind Ponzi schemes guarantees that when they collapse, the majority of participants lose money.