September 26, 2022

Ethereum Reader

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Top Crypto Mining Projects to Watchout For

<img width="300" height="181" src="https://ethereumreader.com/wp-content/uploads/2021/11/top-crypto-mining-projects-to-watchout-for.jpg" class="webfeedsFeaturedVisual wp-post-image" alt="Ebang International Plans to Launch BTC Mining Business" style="display: block; margin-bottom: 5px; clear:both;max-width: 100%;" link_thumbnail="" srcset="https://ethereumreader.com/wp-content/uploads/2021/11/top-crypto-mining-projects-to-watchout-for.jpg 300w, https://coinquora.com/wp-content/uploads/2021/02/Mining_Machine_Manufacturer_Ebang_to_Start_Mining_Bitcoins_for_Itself-768x463.jpg 768w, https://coinquora.com/wp-content/uploads/2021/02/Mining_Machine_Manufacturer_Ebang_to_Start_Mining_Bitcoins_for_Itself.jpg 780w" sizes="(max-width: 300px) 100vw, 300px" />Cryptocurrencies have gone mainstream this year as both retail and institutional investors continue to pour their money into the digital ...<p class="d-none"><a class="btn btn-primary btn-sm understrap-read-more-link" href="https://coinquora.com/top-crypto-mining-projects-to-watchout-for/">Read More...</a></p>

Ebang International Plans to Launch BTC Mining Business

Cryptocurrencies have gone mainstream this year as both retail and institutional investors continue to pour their money into the digital currency market. Apart from institutional investors, even countries have started to legalize the use of cryptocurrencies in their financial market. First  El Salvador created history by making Bitcoin a legal tender and then Paraguay legalized the use of Bitcoin and Ethereum. However, as the crypto market goes mainstream the focus has expanded beyond trading of cryptocurrencies, and the mining industry has become one of the most lucrative choices in recent times.

Crypto mining is a multi-billion dollar industry in itself with the race to become the leading mining hub heating up after China’s recent ban. China used to be the mining hub of the world accounting for more than 70% of mining activities until May this year. However, carbon emission and energy shortage concerts led to the biggest crackdown on mining in mainland China which forced 99% of mining farm operators and miners to shut their operations. This eclipsed China’s mining dominance which helped the US to rise to the top.

With China’s mining exodus, the focus also shifted towards clean crypto mining due to a lot of FUD around energy consumption by the Bitcoin network. Thus the majority of new mining farms being set up focused on clean mining. While clean mining is a focus for many, the mining industry remains limited to a selected few given the growing cost of setting up a mining assembly and then the electricity cost that comes along with it. The complexities involved in the setting up process itself deter many. Another key issue is that most of the mining companies are going public and thus investment in the shares of these mining farms is also limited to the institutional investors. Thus, despite Hut8 mining, Bitmain, and several other companies there is a need for a new era of mining projects that can offer easy exposure to the masses.

Sustainability is the Key

There are numerous mining projects available in the market promising to offer the best mining profits to users. Mining pools are the next best option for small-time miners who can’t afford the latest ASIC mining machines but want to reap the benefits of crypto mining. However, mining pools also require users to share their mining power, which ultimately leads to electricity bills. This is where a new coming of age project called GMT token is making headlines with its innovative business model.

GMT has developed an exclusive alternative that will eliminate unnecessary problems that limit the involvement of new entrants such as the high cost of mining hardware, electricity cost, etc. GMT created a unique token, backed by computing power. The main distinguishing feature is that it gives users instant access to Bitcoin mining. Moreover, unlike traditional mining, holders don’t need to spend money on equipment, and unlike cloud mining, GMT allows mining without a time limit. Each GMT is backed by real, constantly growing computing power (measured in TH/s) via the SHA-256 protocol

Almost every week the team introduces additional equipment and computing power. After this, 20%-90% of new tokens (supplied by fresh computing power) get “burned” and the released capacity is redistributed between other tokens. As a result, the supply capacity of a GMT increases which results in income growth. At the moment, the company strives to get energy for the operation of data centers from renewable energy sources: hydroelectric power plants and wind turbines. In the future, the team plans to completely move towards sustainable energy consumption and minimize any ecological harm.

A Project That Offers All Mining Benefits Without the Complexities

The GMT token project is making headlines for its innovative approach attracting public attention. At its core, GMT is a unique project that makes it much easier for beginners to enter mining: both for big investors and those who want to make some money on mining. In any case, it allows you to easily receive passive mining income. 

GMT is easy to use and the team constantly works on new updates. GMT regularly gets listed on new exchanges (DEX and CEX) and soon plans to be listed on the most popular exchange – Binance. 

Good news for those who care about safety: GMT has integrated its token into secure hardware wallets: Trezor and Ledger. 

By investing in GMT users invest in a token that brings passive daily income. Such a token structure creates financial support for the investor in case of market volatility and provides additional income. By the way, in addition to the mentioned listing on Binance, the company has other major goals: in the next two years they plan to reach 4% of world BTC mining, in the long term – 20%.

Source: coinquora.com