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Posts published in May 2021

Us Firm Splashes Out On 4,800 Bitcoin Miners Worth $34M

Bitcoin is a new trend nowadays and the craze of it is touching the skies. So let us understand what is Bitcoin, Bitcoin is one of the first cryptocurrency and was created in 2009. The person who created the Bitcoin is still unknown. Bitcoin is not like any other government currencies and it’s not operated by any centralized authority. Bitcoin is not a legal tender and is not any physical coin, the balances are stored in a digital ledger that is visible to everyone. Every transaction in the public ledger is verified by the miners using their computing power and they get rewarded once they finish the verification. Mining has been popular over time and it requires a lot of investment like buying expensive GPUs, rigs, ventilating instruments etc. But if done properly and with correct calculations mining can fetch a huge profit.

A cryptocurrency can be beneficial, any person before investing must have a steep look at the development process of that particular currency that they want to invest in. As beneficial, it turns out that cryptocurrency is volatile. The best example was the crash of 2018, Bitcoin crossed approximately 20 thousand dollars in 2017, making everyone amazed at the achievement. But what happened next? The price fell to almost 7000 dollars in 2018. From then till date Bitcoin has been slowly climbing the stairs and has an All-time-high of approximately 65k$. Looking at the volatility of any currency, call it digital or physical puts every person in thought to take a step ahead and join the investment market leap of crypto.

As of today Bitcoin Evolution was not so popular and suffered a crash in 2018, but it recovered and has bought a spectacular change in the crypto market. Recently Pennsylvania software firm Integrated Ventures has officially announced that it invested in the mining rigs. The US-based firm purchased 4,800 Bitcoin Mining rigs from Chinese manufacturer Bitman. The deal cost a whopping amount of $34 million. According to the reports the firm purchased Bitman’s Antminer model S19J’s and Bitman would ship 400 rigs every month. Integrated Ventures also partnered with Wattum Management, which is a mining solution provider. Wattum will help the integrated ventures in the mining operations. Each mining rig is capable of providing up to 100 tera-hashes and after the full shipment, all the rigs can provide up to 0.5 million TH/s. As of now, the Bitcoin mining hash rate is around 170 million TH/s, this means the Integrated Ventures will have a decent amount of hash rate with the rigs. Integrated Ventures CEO Steve Rubakh said the deal effectively doubled the firm’s existing Bitcoin hashing power, adding that he was pleased to secure the purchase of mining equipment at a time when the hardware was scarce. “The Company is very pleased to secure this large scale purchase agreement, especially during a period of the scarce supply of mining hardware. Going forward, INTV is committed to deploying any raised capital for purchases of the mining equipment,” said Rubakh.

Vc Funds Bullish On Crypto, Increase Investment In Blockchain Startups

There are many people who are showing interest in investing in the startups that are developing technology for cryptocurrency and blockchain. The funding in this area is not given a break. The VC funds appear to be growing day by day and gaining a huge potential. The venture capital funding for crypto and blockchain has set records in 2021. The crypto firms have got a lot of funding in 2021 when compared to 2020. There are around three companies that have got the funding of around 1.1 billion in the first quarter. 1/3 rd of the funding that is collecting was way back in 2018 for crypto and block chain firms. There is a lot of bullish enthusiasm in the crypto space. The appetite for VC would continue throughout this year.

The funding happened to be in the early stage and has spread to retain area with decentralized exchange offering turning over subsidized. The IDO launch pads are performing at its best now in the cryptocurrency space. In the first quarter of 2021, the blockchain and crypto start-ups have received the funding of around USD 2.6 billion as per yahoo. The number is USD 30 million more than the total funding that the company got in the whole 2020. There is a crypto wallet provider; is lending money to both the BlockFi and blockchain game studio that is run with the name Dapper labs of around USD 2.6 billion. It is the start-up funding that is received in the first quarter of 2021. At the March end, Dapper labs announced the funding of around USD 305 million. This is the funding that the company has got from the celebrities and superstars of cinema. There is a steep rise in the NBA Top shot non-fungible tokens. Since the start of the crypto space, the startups have received a lot of funds. These are published on the Blockchain venture capital report. Though there is no clarity on the crypto space, still the funds have flooded to the companies.

There is a VC firm named Kinetic, which is based out of Hong Kong, has helped get private equity funding for blockchain startups. There is a lot of peer pressure from Elon Musk and Michael Saylor to invest in this market. If VCs found this to be a risky thing, then they might lose the best business opportunity. There would be outsized returns that the company can get along with the equity investments. The Blockchain venture capital report disclosed that the block chain private equity has performed really well compared to the traditional private equity. The performance of the blockchain private equity is not correlated with the mainstream asset class. There is a VC thesis in which it is clearly stated that crypto is an attractive space with a lot of potential for the growth, but it also needs promising validation. The VC funding has hit a 2% rise and fell by 1% at the end of the VC market. Based on the Cointelegraph research, it is clear that the blockchain focused VC funding has been dropped by 13% from 2019 to 2020 and traditional equity funding has hiked to 18% in the same duration.

The early backers are given the opportunity to have cryptocurrencies whose value would be appreciated in the short time. The crypto portfolios will allow one to contribute to the ecosystem of this industry through stake node operations, governance proposals, liquidity and bootstrapping.