隨著加密貨幣的出現，加密貨幣挖礦圈也相應地出現了。 2015年，加密貨幣挖礦的序幕開始了。作為一家加密礦業初創公司，開發難度與一般創業公司面臨的問題相似，但加密貨幣的價值波動對公司的發展影響很大。因此，初創公司在做出每個公司決策時需要考慮外部環境的變化，學習市場環境的專業知識以及需求以成為自身優勢，並且加以調整內部策略，以發展合乎市場需求的商業模式，達到企業的永續發展。
整體而言，M Technology的企業發展可以分為四個階段：共享經濟網站挖掘，共享經濟手機挖掘，FPGA電子商務商店和FPGA礦場時期。該公司的發展揭示了其從競爭激烈的藍海市場，轉變為找到利基空間，並逐步修改其發展方向的過程。
該案例研究數據是通過訪談收集的，完成資料搜集之後，從企業家實踐歷程的角度進行了個案分析和現象討論。此外，本研究討論了創業公司如何根據外部環境的變化靈活地調整業務策略，並且將資源整合到公司中，逐步建立每一個企業目標，以維持公司的永續發展。最後，本研究將此理論架構彙整起來，希望未來能夠用於相似的其他企業組織作為生存和發展的參考依據。

With the emergence of cryptocurrency, the mining circle emerged accordingly. In 2015, the prelude to crypto mining started. As a crypto mining startup company, the development difficulty is similar to the problems faced by general startup companies, but the value fluctuation of the cryptocurrency affects the development of the company a lot.
Therefore, the startup needs to take into account the changes in the external environment when making every corporate decision and take actions to successfully form its staged business model.
This case study data collection is through interviews. The in-depth analysis and phenomena discussion are conducted from the perspective of entrepreneurial enactment. M Technology’s enterprise development can be divided into four stages: sharing economy website mining, sharing economy mobile phone mining, FPGA e-commerce store, and FPGA mine farm period. The company's development reveals its process of moving from a highly competitive market to finding an industrial niche and revising its development direction step by step.
Furthermore, this research discusses how the startup adjusts their business strategies (in an agile manner) according to changes in the external environment; how the startup integrates resources into the company, and establish their next business goals. Sustainable development, and finally use this structure for other enterprise organizations as a reference basis for survival and development.

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