Here are some crypto mining ventures worth checking out
Crypto Mining Adventures Worth Checking Out
A significant portion of the cryptocurrency market offers excellent opportunities for crypto mining projects. According to a GlobalCoin article, the combined Bitcoin, Ethereum, Litecoin and Dash crypto assets have a total market capitalization of almost $400 billion in January this year.
Cryptocurrency mining, in a nutshell, is about earning digital money as a reward for allocating a portion of your computer’s memory and computational power for crypto transactions. The coins are earned by block through complicated mathematical problem-solving steps required to process, record and verify transactions.
The necessary software applications and hardware specifications vary depending on the type of crypto money that is intended to be mined. Generally, a powerful computer in terms of processing speed is necessary. For Bitcoin mining, for instance, a computer with at least 63,000 megahash per second (MH/s) of computational power is needed. Other types of cryptocurrencies that are mined are Ethereum, Litecoin, Dash, and Monero.
Some companies are barging into the emerging technology in their own ways. There are others who would want a direct approach to mining cryptocurrencies and there are also others who are integrating the sector into their own through strategic businesses plans. Here are some crypto ventures that are promising for an investor.
AntPool Bitcoin Mining
AntPool crypto mining is focused on Bitcoin and accounts for 17.82 percent of the total hash computational power. It has more than the majority share of the global Bitcoin mining activities in the world, amounting to 56 percent. The other 44 percent is shared by thousands of other miners.
The project is being operated by Bitmain, a Beijing-based Chinese hardware company. It also claims to be the largest cloud miner in the world. It was launched in 2013 and co-founded by Jihan Wu. It has a hash rate of 3,864.01 PH/s — that is peta hash per second or 1 followed by 15 zeros.
MoonLite Mining Project
MoonLite Project is a commercial scale mining project that seeks to tap the large potential of the various digital assets. It also offers opportunities for investors to earn. The team behind the project has devised a three-phase strategy for mining Bitcoin, Litecoin, and Dash. Each phase allocates specific computational power at an increasing rate. For Bitcoin, for instance, the first phase has 28,000TH/s allocation. The second phase has 56,000TH/s while the third phase has 120,000TH/s.
HIVE Mining Projects
HIVE has two main mining projects, namely, the Iceland Project and the Genesis Project. It has acquired a high-tech blockchain facility in Iceland from Genesis Mining Ltd, making it the largest cloud Bitcoin mining company in the world. The Iceland facility operates 24 hours a day, extracting digital assets.
The company also started crypto mining operations in Sweden this year. The phase one of the operations started on Jan. 15, focusing on Ethereum. The company increased its energy consumption by more than 175 percent to 10.6MW. It plans to increase its mining capacity to 13.6MW of GPU by April and further increase to 20MW by September.
Coins backed by non-digital assets
Unsurprisingly, many companies, which are outside the crypto sector originally, are not blind to the industry’s astronomical gains. Still, there are doubts since the industry largely remains unregulated. One of the things that can allay the fears of investors is by exchanging coins with non-digital assets such as gold and silver. For instances, Mansfield-Mining Exploration Inc. Mansfield-Martin Exploration Mining, Inc. (OTCMKTS: MCPI) is looking to do with its recent reveal of Silverback.IO, a cooperative decentralized crypto coin.
Mansfield-Martin Exploration Mining is venturing into a new sector by introducing the alt coin in partnership with Qu Ltd. What makes Silverback.IO such an interesting new player in the sector is that it is backed by two assets: the price of Ethereum and the price of silver. The growing market price of Ethereum and the steady demand for raw materials like silver guarantees substantial growth for Silverback.IO and its founding fathers.
After the reveal of Silverback.IO, the mining company also announced the new Tombstone Mining Program. In a deal Westgrove Partners, LLC. will provide up to $3 million for the construction of processing facilities, including crushers and wash plants. These facilities will, of course, help the mining company increase its output on mining for raw materials.
These two recent ventures by the mining company go hand-in-hand as Mansfield-Martin Exploration Mining could help strengthen the market price of Silverback.IO by having a steady production of silver. in this way, the value of coins depends on the value of silver, which is more or less steadier than digital currencies to which the coins are pegged.
AntPool Bitcoin Mining, HIVE Mining Projects and MoonLite Mining Project are just a few examples of companies who reach into untapped potential of crypto mining and carve a place for themselves in an increasingly saturated industry. Mansfield-Martin Exploration, on the other hand, is trying to couple the fears and doubts of volatile cryptocurrency with the use of silver. Imagination and vision can take companies far even in an unpredictable sector such as cryptocurrency.