ICO and a New Mining Opportunity

If you are a cryptocurrency investor or interested in crypto mining, this is a very interesting and unique opportunity.

In late May a trusted financial markets and lifestyle information service that I have been a subscriber of for several years presented a unique article to its subscribers. The service deals with all aspects of financial markets from stocks, bonds, commodities, real estate, and other areas of wealth and lifestyle improvement. This service also has a division that researches and makes contacts in the cryptocurrency industry. Thanks to their due diligence and timely communication, my cryptocurrency portfolio has expanded to 23 coins and increased in value over 1300% in just four months. Having greatly increased the value of my crypto holdings, I was looking to diversify and was exploring mining. However, buying mining rigs and dealing with setting them up or hosting them at some of the services I found did not particularly appeal to me. Cloud mining wasn’t very interesting either, seeing that I was getting better returns on my crypto portfolio. Still, diversifying into other areas and not relying solely on the value of my coins to keep rising is a continuing goal of mine. The service I am subscribed too has a reputation for being very thorough and conservative in their recommendations, so when they finally made a recommendation for a mining service I was very excited to do my own homework on the recommendation. After several weeks I finally decided to invest some of my crypto earnings, entering the ICO for the company’s token and purchasing four L3+ Litecoin (LTC) miners.

First as a mining opportunity, the company is very unique in that they sell mining machines, set them up for you, and take care of all the configuration and maintenance. It is a true “turn-key” opportunity where you own the actual miners and full hash rate without any of technical expertise or time commitment needed. This is not sharing or cloud mining. The facility is uniquely positioned in Washington State in the U.S. with access to cheap electricity from a nearly hydro-electric dam. The energy cost is 2.8 cents per kw/h, or about one-third of the average U.S. rate. For those who already have mining rigs or want to buy their own, the company will host them as well. However, I prefer the turn-key approach as the setup is free when you buy the miners from them, and the pricing is very fair. I purchased L3+ Litecoin miners for about $2,300 each including the power supply. I have seen the same miner listed on Amazon for over $6,000 without the power supply.

Second, instead simply offering their miner hosting services via rental contracts, the company has created a crypto token, where each token equals one watt of miner power consumption. So you can either host without their tokens and pay about 9.75 cents per kW/h or you can purchase enough tokens to cover the wattage of your miners and pay only the energy and maintenance cost of 3.3 cents per kW/h. That is significant savings and the tokens entitles you to rent free capacity at their facilities for 50 years. Also you can own tokens without mining. As a token holder you can rent out your capacity to others wishing to use the mining capacity of the facility. Of course, like all other tokens, once the ICO round is completed and all tokens have been distributed, they will be listed on exchanges for trade as well. So it seems like whether you plan to buy and host miners or not, being a token holder is a potential winner.

So whether you have been looking to mine some cryptocurrencies at a reasonable rate of return or have been looking for great potential in a new coin I believe this is a potential winner. How many coins have been released lately that have an actual business use-case scenario that is actually being implemented at the time of the ICO and is not just a platform or application that is “under-development” and has yet to go beyond concept?

As I said, I am already in with about 3,600 tokens and four miners paid for and ordered. The Giga Watt Project still has until the end of July before the ICO token sale ends and presently they have a couple miner options available. If this interests you take a look. If you are in mining, let me know what you think. I would love to hear everyone’s feedback.