Wattum is pleased to announce that we have secured a 12-month supply of 2,400 WhatsMiner rigs through a joint venture agreement with Integrated Ventures Inc. This expansion of our mining equipment inventory gives our clients around the world access to powerful mining rigs at competitive prices, even amidst a global shortage. 

Both companies have committed to purchasing a minimum of 1,200 units each of the model M31S/M30S WhatsMiner rigs manufactured by MicroBit. They offer a power efficiency of up to 42W/T and boast a hashrate of 80T – 110T based on the model selected. MicroBit will manufacture and ship miners starting in July 2021 on a monthly, on-demand basis. 

Wattum CEO Arseniy Grusha stated: “We are pleased to partner with INTV and to be an integral part of a 12-month Purchase Agreement with MicroBit, securing a supply of 2,400 units of WhatsMiners, models M31S/M30S – the most profitable and energy-efficient miners available. Both companies plan to collaborate on the expansion of distribution, mining, and hosting operations and plan to jointly launch data centers and mobile mining farms. We are looking forward to the next phase of mutually beneficial and profitable cooperation, with a focus on establishing Integrated Ventures and Wattum as leaders in the rapidly growing cryptocurrency market.”

“[Integrated Ventures] is very pleased to partner with Wattum and secure this valuable 12-month purchase agreement, especially during a period of a limited supply of mining equipment,” commented Steve Rubakh, CEO of Integrated Ventures, Inc., “This agreement expands the existing relationship with Wattum and represents another step in INTV’s strategic growth plan, designed to rapidly increase the Company’s projected revenue growth rate.”

This transaction is the latest in a set of actions taken by Wattum in order to fuel international expansion plans. Most notably, we recently announced a multi-year partnership with Integrated Ventures to execute colocation and hosting for their cryptocurrency mining operations in Kennerdell, Pennsylvania. This agreement will maximize and optimize hash rate, reduce direct mining operational costs, and provide further international reach of both companies. 

Wattum has additionally begun expansion into Kazakhstan, adding to its existing operations in the U.S., Canada, and Russia. This is not our only recent geographical expansion as we have also opened a sales office in Argentina, kindling our growth into the South American market with a dedicated team to contribute to the up-and-coming Bitcoin mining hotspot.

With this large acquisition of Bitcoin miners, Wattum is once again taking steps to ensure our customers have access to high quality mining equipment at competitive prices. To get started on your Bitcoin mining adventure, browse our available mining rigs today.

The recent crackdown on Bitcoin mining within China is likely to lead to an exodus of miners and equipment to other countries due to the imminent threat of a full ban. Chinese cryptocurrency exchange Huobi has also suspended its Bitcoin mining services, hosting services on its mining cloud platform, and the sale of mining equipment in mainland China. The company will be using this time to focus on overseas expansion, a strategy also adopted by Chinese miners and investors. This exodus begs the question of how miners around the world can capitalize on this expected firesale of scarce mining equipment.

Does this mean I can purchase this equipment for cheap in the U.S.?

Many Chinese miners are pursuing alternative routes to continue investing in Bitcoin, including the shifting of their operations to different locations. While many have been attempting to land hosting prices below $0.045/kWh, rates in the U.S. are much higher, with Wattum’s rates being among the lowest at an average of $0.05/kWh. Miners are unlikely to liquidate their equipment just yet, so high asking prices, import duties at a hefty 27% for the U.S., and shipping fees leave the purchasing price for this second-hand equipment at less than ideal rates.

The U.S. mining scene has been ramping up, with a power plant-turned-mining farm approaching completion in upstate New York, boasting a whopping 85 MW of power. However, nearly all mining space in the U.S. is pre-reserved, leaving little to no room for domestic hosting to handle an influx of equipment.

Accessing Trusted Hosting and Management

Wattum’s U.S.-based mining farm design and construction division charges up to $150,000 per megawatt (MW) for building a new mining facility. This price does not include land ownership, which increases expenses and limits flexibility and autonomy. Wattum plans to invest in a 50 MW hosting facility in Ohio, with expansion plans of up to 500 MW. Building costs and land ownership of this new facility will sit at $140,000/MW, with colocation services available to customers for as low as $0.039, further establishing Wattum’s commitment to customers in providing quality service at globally competitive rates.

As Bitcoin mining is a price-sensitive industry, Wattum has developed alternative hosting options in other countries to maximize margins for our customers in Asia, including a particularly attractive option in Kazakhstan. Kazakhstan’s government has embraced domestic Bitcoin mining, recently unveiling plans for a cryptocurrency and blockchain technology roadmap to stimulate these industries. Providing some of the world’s lowest energy prices, Kazakhstan also offers savings through affordable labour, management, and repair costs. Building a data center in Kazakhstan can cost as little as $125,000 per MW including land ownership. Contrasted with the cost of building colocation centers in the U.S., Kazakhstan is emerging as an ideal destination for Bitcoin mining.

A Budding Opportunity for the Eager Investor

As used Bitcoin mining rigs become available from Chinese miners, Kazakhstan may demonstrate what makes it so ideal. With readily available land, a welcoming government, and a shared border with China, Kazakhstan presents a highly attractive option for both Chinese investors looking to move their equipment, and international investors looking to acquire used mining rigs.

Recognizing this budding opportunity, Wattum has already taken proactive measures by developing strong ties throughout the country and with the Kazakhstani government. This has aided our planned joint venture with the founders of Enegix. Wattum also has plans to build a 15MW farm in Kazakhstan, which will offer affordable and secure hosting for our customers in a prime mining location.

Other companies are also moving to take part in this rapidly developing mining hub, including BIT Mining Limited which recently invested $9.33 million in the development of a 100MW mining data center in partnership with a local Kazakhstan mining company.

If you are interested in investing in colocation infrastructure in Kazakhstan, backed by a globally-recognized Bitcoin mining farm management company, contact Wattum to learn more.

Resolute to ongoing expansion efforts, Wattum Inc. announces a new partnership with the world’s largest crypto mining data center, Enegix LLC, based in Kazakhstan. The partnership will see the build-out and operation of a 16 MW facility, a commitment totaling $2 million USD.

With construction planned for July 2021, the two industry pioneers are in discussions for the financing and construction of an additional facility, adding another 50 MW to their proactive efforts. The estimated cost of this second facility amounts to $8 million USD.

“Interest in cryptocurrency mining is on the rise, and this partnership with Wattum will extend Enegix’s presence to the US. It will serve as a bridge for US customers while allowing international interest to grow and direct its attention to the many opportunities presented by Kazakhstan.”

– Yerbolsyn Sarsenov, CEO & Cofounder, Enegix LLC.

Because interest in cryptocurrency mining is on the rise as a lucrative investment, Wattum will be providing Enegix with a significant bridge into the US market through this partnership. Extending their reach to enthusiastic customers across the country, Enegix will establish its presence in the US by providing customers with an opportunity to access a reputable data center hosted in a country that has an energy surplus of 4000MW.

Currently operating a 180MW facility in Ekibastuz, Kazakhstan, Enegix is the largest-capacity data center in the world and accounts for more than 2% of the world’s Bitcoin hashrate at full capacity, which sits at 50,000 mining rigs.

This partnership with Enegix LLC cements Wattum Inc’s position as an industry leader in innovative collaboration and hints towards future plans for expansion.

“Wattum is pleased to be working with Enegix, once again collaborating to bring innovation and optimization that contributes to Kazakhstan’s growing recognition as a global Bitcoin mining leader that will revitalize the international Bitcoin industry. This venture will cement Wattum’s position in this developing industry while providing the best possible hosting opportunities to our clients. We have proven ourselves as a proactive organization, consistently making moves to better position ourselves and our partners for long-term growth.”

– Arseniy Grusha, CEO & Founder, Wattum Inc.

Chip manufacturing giant Nvidia has increased measures to ensure GPU cards get into the hands of gamers, rather than cryptocurrency miners. It’s a change that is expected to bring further price increases for GPU rigs, even beyond those brought on by the global chip shortage. In this article, we’ll explain Nvidia’s hashrate restrictions, consider older GPU models, and discuss our recommended alternative: the Nvidia CMP HX Series.

Significant spikes in the price of Bitcoin in 2021 have increased demand for crypto mining equipment, leading miners to buy out entire supply chains of Nvidia GeForce cards, depriving gamers of essential tools for their trade. To level the playing field between their two major customer segments, Nvidia is drawing clearer lines between gaming and crypto mining equipment.

New Releases to Limit Hashrate

Nvidia has implemented anti-mining hardware flags in their stock that will halve the hashrate for Ethereum mining on several leading models. Products released after May 2021 from the GeForce RTX 3080, 3070 and 3060 Ti graphics card lines will feature a “Low Hash Rate” (LHR) sticker, indicating their unsuitability for crypto mining.

This is Nvidia’s second successive deterrent attempt, following a failed one in February with their RTX 3060. The GPU was meant to halve the effectiveness of Ethereum mining rates, a move claimed by the company to be “unhackable”. However, a developer-specific beta firmware driver released soon after easily unlocked the GPUs full mining capabilities, making the item a hot option for mining once again.

This past misfire breeds doubt on the upcoming limiter’s ability to withstand hackers. This will remain unknown until the products’ release; in the meantime, miners can utilize the limited mining-specific cards offered by Nvidia.

The company’s dedicated line for crypto mining, Nvidia CMP HX, offers GPUs. The spot prices on in-stock cards will likely cost 25-75% more than the pre-order price due to a limited available quantity. If the going rate today is $28-$30/MHz, expect these cards to sell for $35-$38/MHz when they arrive in August.

What About Older Models?

Graphics cards released before the introduction of the hashrate limiter are currently out of stock everywhere. Any online retailers with availability that are selling these cards are likely referring to old batches from 2020, still left in a warehouse. Wattum still maintains an inventory of the Nvidia 2070 cards, which remain profitable in addition to being cheaper per MHz.

Both new and old generation card models are of high quality; their functionality in this case is dependent upon your specific needs or preferences. As neither generation is still in production, their resale value holds steady and will only continue to go up as Ethereum (ETH) prices rise, whether they are new or used.

Savvy miners want to purchase hardware that can be resold for the same price or more than you bought it. In the next 3-5 years, if Ethereum (ETH) is trading at $10,000 as projected, mining hardware bought today may appreciate in value, adding to the mining profits earned during those years.

The Best Nvidia Card for Crypto Mining

Should you prefer to purchase cards that will outlast 2 years, alternative models such as Nvidia’s CMP 90HX rig are a notable contender. While they do carry a higher retail price than those designed for gaming, they hold 10GB of memory which will remain functional for your next 3-5 years of GPU mining. Specifically designed for crypto mining, the 90HX uses 25% more power than the 50HX, yet they yield double the cryptocurrency. A slightly higher investment now projects to earn a significantly higher profit throughout the lifetime of the machine.

Since its launch earlier this year, the CMP series has already gained immense popularity. In March, one buyer alone submitted an order worth $30 million, with the units intended primarily for mining on “alternative blockchain networks”.

The 90HX, which is comparable to the 3070 – 3080 RTX GPU mining rig, is our top choice for GPU mining and is currently available in limited quantities. Purchasing now gives you maximum time to profit from rising ETH prices and an increased coin yield before prices increase as demand rises.

Announcements, Partnership

Wattum and ViaBTC Announce Global Strategic Partnership

June 3, 2021

Wattum is pleased to announce a strategic partnership with ViaBTC Group, which consistently ranks within the top 10 for total Bitcoin hash power among mining pools.

ViaBTC is a globally recognized Bitcoin mining pool and cloud mining contract provider specializing in blockchain technology. Within the year preceding this writing, they have accounted for 7.14% of global hashrate. Their partnership with Wattum brings together a shared dedication to providing clients with reliable and efficient digital asset management services.

ViaBTC CEO Haipo Yang remarked, “It’s always such a pleasure to work with the Wattum team. Their professional standards and commitment to providing high quality work puts them a step above the rest.”

In Q1 of 2021 alone, Wattum has transformed $1.5 million in funding into $58 million, a 3800% return. With over 720 existing mining pool customers, Wattum is well-established as a trusted, lucrative pool generating significant returns for their customers.

In light of this partnership, Wattum will be offering a new customer rate, reducing Pool Fees to just 1% if the customer purchases equipment and/or management services as well. Wattum also conducts profit testing through monthly pool audits and provides mining pool services to a vast range of clients, from individual miners to large-scale data hosting centers.

With a diverse set of offerings including equipment, hosting, management and mining pools within the cryptocurrency market, Wattum’s comprehensive value proposition is strengthened by this deal. Our company profile anticipates a rise within the cryptocurrency industry in the U.S. and internationally, amid the most significant cryptocurrency mining boom as historic regulatory barriers are being broken down.

With more than 65% of the world’s hashrate production, China has become the clear cut leader in the market for Bitcoin mining in recent history. However, it appears that the nation’s distant lead is narrowing, as United States miners are expected to gain an additional 10% of the global hashrate market share within the next calendar year, according to Hashrate Index CFO Ethan Vera.

A major reason for China’s hashrate dominance has been lax environmental regulations and low energy prices. While tighter restrictions on carbon emissions are being rolled out across the country, the impacts on cryptocurrency mining capacity are particularly stark in three major hashrate contributor regions – Xinjian, Sichuan, and Inner Mongolia. These three collectively account for more than 53% of the world’s total hashrate.

China Decreases their Cryptocurrency Production

Many Bitcoin mining farms in these regions rely on non-renewable energy sources, most notably coal, which yields the highest carbon emissions among fuels. The Chinese government has pledged to sharply reduce carbon emissions in pursuit of ambitious climate goals. This, combined with concerns about the safety of some major coal mines, suggests that energy available for cryptocurrency mining may be reduced, at least in the short term.

The Xinjiang regulatory body is cracking down on unsafe coal mining practices, already decreasing production by 30% as a result.

The looming 2022 end of a local three-year hydropower policy that favourably affected miners in Sichuan is causing a shift amongst miners who are now hesitating to invest more in the region. Hydropower presents an alternative to coal-fired power plants, as the latter faces more regulatory enforcement. The shift to hydropower over other energy sources is more compliant and cheapest in the rainy season, despite potential power outages in dry months.

Inner Mongolia is facing an ultimatum from their National Development and Reform Commission, which stated on February 25 that all crypto mining operations needed to abandon the region by the end of April due to their high energy consumption.

Increased Regulations Make Room for US Miners

This increased regulation of Chinese mining and hosting is expected to make room for other regions of the world to capture market share in Bitcoin hashrate production. Currently next in line with 7% of global production in April, crypto miners in the U.S. are poised to make a significant push for crypto mining market share in 2021.

While the effects of tighter regulation in China should not be understated, the expected increase in U.S. hashrate production also owes itself in part to increased adoption of Bitcoin by major American financial institutions. Enthusiastic entrants to the American crypto mining market, combined with the gradual arrival of crypto mining activity previously carried out in China, are expected to drive scarcity in the market for crypto mining equipment, hosting and colocation services.

Wattum Management Leads the Way for US Hashrate Dominance

In Q1 of 2021, Wattum Management sold 20% of all North American equipment, grossing a sizable $60 million in sales. Wattum is now offering hosting at $0.05/kWh, giving customers access to reliable services at nationally competitive rates. If the crypto market continues to perform at its current rate, as many analysts are predicting it will, these rates will be next to impossible to beat.

Wattum is a reputable New York-based crypto management firm offering services such as new and used equipment sales, hosting, management, firmware, and mining pool opportunities.

About Wattum Management’s U.S. facility:

  • 99.9% uptime
  • Tax-registered and fully compliant
  • Based in New Mexico
  • 15MW capacity and is built out to 7.5 MW
  • Using 3-Phase 415/240 voltage distributed to 4 containers, and 2 buildings

Wattum is one of the leading providers of mining equipment and maintenance services in the United States and boasts competitive prices for our US, Canada, and Russia facilities. Our reliable management services include production monitoring, equipment optimization, and part replacement that helps save you money.