It’s Time to Start Mining: Join Tesla and Visa as they Back Bitcoin

Mining / May 14, 2021

Support from payment giant Visa and electric car revolutionary Tesla has bolstered the anticipated longevity of Bitcoin, resulting in a projected increase in future prices. 

Al Kelly, CEO of Visa, recently discussed the company’s plans to get involved with cryptocurrency through a multi-pronged strategy pushing services related to Bitcoin, stablecoins and, on a more distant time horizon, central bank digital currencies, or CBDCs. Kelly revealed that the company is leaning into the crypto industry in a very big way and feels they are “extremely well-positioned”.

A Vision for the Future as Bitcoin Secures the Trust of Industry Leaders

Tesla Inc. CFO and Master of Coin Zachary Kirkhorn has announced that the company will continue to hold and accumulate Bitcoin, thanks to their sincere belief in the cryptocurrency’s long-term value. Despite concerns surrounding Bitcoin’s role in clean energy and influences on the environment, the digital coin remains on Tesla’s balance sheet as new findings surface regarding its potential positive effects on technology innovation for renewable energy. The company is accepting Bitcoin as payment for its popular electric vehicles and intends to hold Bitcoin earned from purchases made by customers, rather than converting it to cash.

Tesla CEO and renowned innovator Elon Musk frequently takes to social media to discuss cryptocurrencies and Bitcoin to his 50 million+ followers. Musk has long been praised for being a visionary leader, driving Tesla to become the first S&P 500 company to invest in Bitcoin, a move other companies are slowly beginning to replicate. Tesla invested $1.5 billion into Bitcoin in early 2021. Despite selling 10% of their holdings, the value of their remaining Bitcoin had risen to $2.5 billion as of March 31

Scope of Opportunities Presented by Bitcoin are Driving Mainstream Acceptance

The increase in mainstream and corporate support of Bitcoin continues to push the cryptocurrency toward the position of a long-term asset, foreshadowing a significant increase in future prices. There is a growing, widespread consensus that the time to get into Bitcoin mining is now in order to capitalize on these expected gains. 

Corporations such as Visa and Tesla have faith in this process as Bitcoin miners serve as a decentralized co-location for transaction verification, which speaks to the scope of opportunities presented by crypto mining that benefit individual miners and mining farms in more than 10 countries around the world. There’s never been a better time to join in on these opportunities, as ongoing mainstream use and acceptance of Bitcoin and cryptocurrency continues to be elevated by significant industry players. 

Mining Bitcoin as a Next Step in Joining in on the Action

Mining equipment is typically priced at a 12-month payoff from the current Bitcoin price, meaning that if Bitcoin prices should increase after you buy, the period of time it takes to pay off your equipment is shortened. If the investments of industry leaders like Tesla and Visa are any indication, locking in mining equipment at today’s prices may set you up for even faster returns than predicted. Buying a Bitcoin miner allows you to mine for the next few years, making back your investment as opposed to buying Bitcoin directly for its market price. A lucrative investment such as this one is fully depreciable on tax returns as mining Bitcoin is parallel to purchasing it in smaller increments over time, further saving you money. 

Wattum Management, a Bitcoin mining farm management company, provides new and used equipment sales, hosting, management, firmware, and mining pool opportunities for both individual miners and mining facilities looking to increase their investment in the trailblazing cryptocurrency. With a wide variety of quality miners for sale at nationally competitive rates, now is the best time to buy as increases in Bitcoin price will only increase the value and demand of available mining equipment.

Bitcoin has been Raining Gold for Mining Returns as it Hits the Mainstream

Mining / May 12, 2021

Amid Bitcoin’s ongoing rally, skeptics have characterized its rise as ‘just another bubble’. However, analysts are pointing to certain signs that may signal the biggest boom yet for the world’s original cryptocurrency: Bitcoin’s long-awaited entrance into the mainstream.

With the supply of Bitcoin increasing at about 2% annually and demand skyrocketing, experts have good reason to believe that this is not a mere spike before a trough.

Public Support of Bitcoin is Setting Up a Multi-Year Rally

The last Bitcoin rally lasted about two years, nearing its end with a soar in prices in December 2017 and a sharp decline in the months that followed. In early 2018, the digital currency lost about 80% of its value, the so-called bubble seemingly ‘popping’.

Experts have commented that the present rally will have some crucial differences from the previous two-year rally, with additional signs that may indicate the beginning of a new multi-year rally. The adoption of Bitcoin by popular payment company Venmo, which now offers in-app purchases of cryptocurrency, has further driven the attention of the general public toward the digital currency. With advances like these making Bitcoin significantly more accessible to everyday consumers, cryptocurrency comes several steps closer to being the world’s default currency.

Bringing New Value to the World of Finance

Bitcoin is not only entering the mainstream with consumers, but also with corporations’ financial activities. Large publicly traded companies like Tesla and Square have invested billions to put Bitcoin onto their balance sheets, alongside public support from the Federal Reserve acknowledging the undeniable value of Bitcoin. 

“I think bitcoin is really on the verge of getting broad acceptance by conventional finance people.” said Tesla CEO Elon Musk earlier this year. Ignoring this impending tipping point in the mainstream usage of Bitcoin could cost investors dearly in terms of opportunity.

If Bitcoin repeats the level of increase that brought its price from $3,000 in 2020 to $50,000 in early 2021, it could run all the way up to $1 million per coin. These huge jumps in value have been proven possible time and time again, and appear only more likely to increase with backing from these large corporations. 

Bitcoin Mining as the Next Smart Investment

Purchasing Bitcoin miners provides you with the opportunity to obtain Bitcoin at a significantly lower cost, as opposed to direct purchase from an exchange. At a starting price point of approximately $6,000, these mining rigs are capable of unearthing Bitcoin which, at the time of this writing, is valued at $56,000, making mining rigs a lucrative investment. Further, this investment is fully depreciable on tax returns, allowing you to buy Bitcoin at the price of a rig and saving you money at the end of the year.

As Bitcoin’s rise to dominance drives up coin prices, the value of investing in proper mining equipment, hosting, and management services is paramount. Whether investing in cryptocurrency for the first time or planning to expand your mining farm, it is crucial to select proven and reputable partners to minimize risk and maximize potential gains. 

Wattum Management provides a suite of services to manage the mining rigs of customers worldwide. Offering both new and used mining equipment, hosting, management, firmware, and a mining pool, Wattum’s comprehensive expertise results in sound decision making on our customers’ behalf.

Cathie Wood Endorses Bitcoin Mining, Paving the Way for Bitcoin Acceptance

Mining / May 11, 2021

The assertion that Bitcoin’s heavy energy requirements are harmful for the environment has been rebutted by Cathie Wood. The ARK Invest founder and CEO suggests that cryptocurrency mining may actually accelerate the development of clean energy technology.

Technology that Fuels Renewable Energy

Research conducted by Wood in conjunction with ARK research director Brett Winton, and co-authors Yassine Elmandjra and Sam Korus presents a different point of view on the commonly held criticism that Bitcoin mining is environmentally damaging. 

“Instead,” stated Wood, “as crypto mining, energy storage, and AI technologies converge, the adoption of renewable energy is likely to accelerate.” Their findings support that cryptocurrency mining is driving investments in solar power, making more renewable energy available to the grid.

The researchers wrote in their article, “A world with bitcoin is a world that, at equilibrium, generates more electricity from renewable carbon-free sources.” This analysis brings encouragement amongst worries that environmental concerns would limit broader societal embrace of Bitcoin, whose power consumption has increased by a multiplier of 66 since 2015.

Bitcoin as a Facet of Mainstream Business

In a panel discussion, Wood claimed that she expects Bitcoin’s market value to surpass its recent milestone of $1 trillion by a significant amount. Square Inc., a collaborator on the research, has also heavily invested in Bitcoin. The company has described digital currency as an increasingly important facet of their business, especially with use of their Cash App for Bitcoin transactions.

With increasing public support for Bitcoin mining and its potential positive effects in relation to green energy, a prime opportunity presents itself to invest in the Bitcoin and cryptocurrency mining market. A supply shortage of crypto mining equipment, paired with an increase in equipment demand, is turning keen customers toward established companies such as Wattum Management. At Wattum, we offer comprehensive cryptocurrency offerings that suit data hosting centers and individual Bitcoin miners alike in obtaining competitively priced equipment and services. 

A Full Circle Investment

The public endorsements by trusted entities in this rapidly developing industry are highly indicative of the impact BItcoin has not only presently, but will continue to have. 

Endorsements and the steady entry of Bitcoin into the mainstream payment market are a sure reflection of cryptocurrency’s acceptance, which has significant implications for the digital coin and those that have engaged in the opportunity to invest both in the currency, as well as the equipment to mine it. Mining Bitcoin allows you to purchase the coin for smaller monthly increments as mining equipment is typically priced at a 12-month payoff from the current Bitcoin price. At the price of a miner, these increments would sit under $10,000, as opposed to a direct market purchase of Bitcoin. 

Bitcoin mining allows you to make a full return on your investment and is depreciable on tax returns, both saving and earning you money. Based on these advancements, Wattum predicts a further increase in demand for crypto mining equipment amidst the ongoing shortages as the value of such lucrative investments gains further recognition.
Wattum Management, as a reputable Bitcoin mining farm management firm, provides an expansive selection of both new and used equipment, in addition to expert hosting and management services. Wattum also offers escrow payments, financing options, and mining pool opportunities, taking charge in this monumental industry and ensuring secure investments for those looking to maximize this opportunity.

Bitmain Technologies Releases New Ethereum (ETH) Miner Amid Industry Shortages

Mining / May 5, 2021

Bitmain Technologies Inc have announced that they will be releasing a new Ethereum (ETH) Miner, named the Antminer E9. This new release, which will run on Ethereum’s Ethash algorithm, will join incumbents in the market of GPUs designed for crypto mining, including Nvidia’s Cryptocurrency Mining Processor (CMP). 

However, despite the pending release of the Antminer E9 as the newest application-specific integrated circuit (ASIC) miner, there remains a looming shortage of GPU chips, and it doesn’t look like the situation will be changing anytime soon. Colette Kress, Nvidia Corporation’s chief financial advisor, expects the shortage to continue well into next year, saying that the demand for GPUs continues to exceed the available supply. 

This prediction is supplemented by the fact that production of the Bitmain E9 miners will be limited by an already dry pool. The price of GPUs is expected to rise in light of their anticipated shortage, indicating that the demand for E9 miners will be high. Considering this current climate, GPU prices are more than likely to climb, increasing significantly as demand for them does not appear to be slowing down.

With GPU availability remaining low and demand continuing to remain high, the time is ripe to buy crypto miner units, especially considering that the new year is not expected to bring much change to the global chip shortage. Implications of the current shortage of GPUs have already been felt significantly, so the time is now to invest in miners that remain available through reputable resellers like Wattum Management, whose prices remain the lowest among companies offering both mining equipment and colocation services in the US.

Wattum Management Purchases $35 million of Mining Equipment

Mining, Partnership / May 4, 2021

Through a partnership agreement with Integrated Ventures, New York-based Bitcoin mining management and hosting company Wattum Management has secured over 4,800 Antminer S19J units from Bitmain Technologies Limited for $34,047,600.

Delivery installments on the 12-month deal are set to span from August 2021 through July 2022. Wattum and Integrated Ventures are partnered 50/50 in this purchase, with at least 2,000 mining units set to begin operating by December 2021, according to Integrated Ventures. Based on Bitcoin’s price averaging $60,000, early projections suggest a $21 million return on investment within the first 12 months after all units are connected.

As Integrated Ventures has been predominantly operating in mining colocation centers since its entry into the cryptocurrency mining industry in 2018, this partnership with Wattum is a significant step forward in the ascent of both companies to the forefront of the crypto mining market.

Wattum Management continues its emergence as a leading force in both hosting and mining management services, as well as equipment sales. The 12-month agreement has secured significant inventory for Wattum and contributes to the expansion goals of both parties to launch multiple mining farms and data centers.

Wattum will provide management services for Integrated Ventures at a mobile container site located near the INTV facility in Kennerdell, PA. Integrated Ventures has made a further purchasing commitment to obtain 150 units of WhatMiners, valued at over $1,000,000, which will be stored and hosted by Wattum at this mobile mining farm and are expected to begin shipping in May 2021. 

Steve Rubakh, CEO of the Pennsylvania-based tech holdings company, expressed enthusiasm about his company’s partnership with Wattum Management:

“[Integrated Ventures] is very pleased to secure this large scale purchase agreement, especially during a period of scarce supply of mining hardware. Going forward, INTV is committed to deploy any raised capital for purchases of the mining equipment. This purchase effectively doubles INTV’s hash rate and represents a major step in INTV’s strategic growth plan, resulting in significant increase of [INTV’S] projected revenue growth rate.”

What the Shortage of Bitcoin Mining Equipment means for US Colocation Facilities

Mining / April 26, 2021

Thanks to a number of acquisitions by large companies, high-end cryptocurrency mining equipment is becoming more and more scarce. The latest player to make a major move in the crypto mining industry is Riot Blockchain. The Colorado-based miner announced in a press release a mammoth $650 million deal to acquire Whinstone US Inc, a Texas-based data facility owned by Northern Data.

As outlined in Riot Blockchain’s press release, the deal consists of $80 million in cash and $570 million in stock, resulting in Northern Data now owning 12% of Riot Blockchain. With this acquisition, Riot Blockchain becomes the largest publicly traded Bitcoin mining corporation in North America measured by operating capacity. The Whinstone site is reportedly North America’s largest individual Bitcoin hosting facility, with a developed capacity of 300MW and a total data center capacity of more than 750MW.

This is not the first time Riot Blockchain has made headlines for it’s major investments, which include a $138 million purchase of more than 42,000 Antminer mining rigs from Bitmain Technologies Limited. Riot’s recent expansion is just one example of the broader North American market push for hash rate, which has in recent history been dominated by Chinese firms.

With Bitcoin mining emerging as such a lucrative activity, the demand for colocation centers and hosting services has soared, prompting industry giants with deep pockets, such as Riot, to buy out what remains.

An increased demand for colocation and hosting services means an increase in demand for the companies that provide them. Wattum Management provides its customers with industry-leading Bitcoin mining equipment, hosting and management at competitive rates. If the current industry dynamic is any indication, these companies will be playing an increasingly important role in providing access to these high-demand resources. As the value of Bitcoin continues to rise, we can expect an increase in price for hosting services as colocation centers recognize their value. Wattum currently remains the best priced management and hosting service provider in the US amidst this industry activity, as other colocation facilities maintain their resale prices at almost double the market value.

U.S. Government Embraces Bitcoin: What this Could Mean for the Crypto Mining Industry

Mining / April 23, 2021

The rise in Bitcoin prices in recent months has been nothing short of meteoric, sparking curiosity around that cause.

According to a report from cryptocurrency news portal CentralBankCurrencies, discreet acquisition of Bitcoins by the Federal Reserve may have been a significant driver behind the crypto market’s recent rally. These acquisitions reportedly took place through at least six separate over-the-counter (OTC) desks, which enable exchange-free crypto trading with large sums of currency. Should this report prove to be true, it would be the latest in a series of encouraging developments in the U.S. government’s embrace of digital currency.

Over the past year, the Office of the Comptroller of the Currency (OCC) released three particularly significant letters, drawing enthusiasm within the crypto community. While a lack of clarity around the regulation of cryptocurrencies had long caused commercial banks to avoid them altogether, major financial institutions are beginning to come around. As they continue their acceptance of this modern form of money, it will eliminate barriers for investment firms and pension funds whose internal bylaws restrict them from managing their clients assets outside of federal chartered banks.

As the banking system continues its evolution, it can be expected that the general public will gradually become more open-minded to the idea of cryptocurrency being part of their everyday life. It is likely that Tesla centibillionaire Elon Musk’s eager embrace of Bitcoin will help accelerate this broad adoption. This begs the question, what could the implications be for the cryptocurrency mining industry?

As Bitcoin continues to pervade the global economy and eventually emerge as a go-to currency for everyday transactions, demand is expected to increase for both mining equipment and the hosting services that are necessary to manage it. While an explosion in demand and a global chip shortage are expected to intensify the scarcity of crypto mining equipment, a number of reputable resellers still have available room for orders to be placed, with companies such as Wattum Management providing additional hosting and management services as they continue to successfully maintain the high demand.  

Naturally, the widespread zeal surrounding cryptocurrency has led to skyrocketing demand for mining rigs and colocation and hosting services, not to mention the currencies themselves. As the price of Bitcoin and the broader crypto market continues to rise, this demand will only increase, making not only premier mining hardware a red hot commodity, but also the companies like Wattum who still have limited units available to order.