Companies that mine bitcoins

Companies that mine bitcoins

Companies that mine bitcoins

Companies that mine bitcoins, As the hashrate of the Bitcoin network continues to rise, the mining industry’s dynamics and players are becoming more diversified than ever. Most bitcoin investors are aware of self-mining, billion-dollar-market-value companies like Riot Blockchain, and whispers of historic alliances between energy giants like ExxonMobil and off-grid bitcoin miners.

However, in addition to these more traditional and anticipated corporate actors, the mining sector has experienced a significant increase of unusual organizations studying mining and launching trial projects of various sizes to get exposure to mining.

Mining is sneaking into the business plans of an increasing variety of unexpected enterprises, from multinational shipping corporations to health and wellness brands to cryptocurrency lending services. This article examines some of the lesser-known and surprise bitcoin mining firms.

Brands Associated With Health And Wellness

Given the popularity of carnivorism and seed oil-free diets among certain bitcoin investors, the announcement of a mining endeavor by a health and wellness brand may not come as a surprise. Graystone Firm, a self-described wellness, longevity, and anti-aging company situated in Florida, revealed plans to expand a bitcoin mining enterprise that had began one month prior in June 2021.

The firm said in late September 2021 that its operations have successfully mined approximately 0.1 BTC since start, with over 2,000 TH/s of hashrate now in operation and plans to add a few thousand more in the next months. Graystone said in January that they were operating 50 Antminer S19j Pro computers, which is impressive for a health firm. Companies that mine bitcoins

Lenders of Cryptocurrency

Lending businesses are probably not the first business that springs to mind when thinking of corporate bitcoin miners. However, two of the major lenders in the bitcoin business are both actively mining with intentions to expand.

BlockFi launched its new mining activities in May 2021, as part of a cooperation with Blockstream’s mining division. The amount of hashrate managed by Blockstream by BlockFi was not released, but the loan firm stated that mining is a complement to their financial services. Companies that mine bitcoins

Celsius is also aggressively investing in bitcoin mining, having spent $500 million on the project as of November 2021. Celsius CEO Alex Mashinsky claimed in an interview that his business has 22,000 mining equipment, the majority of which are Antminer S19 variants. Mashinsky, like BlockFi, sees mining as a strategic complement to his company’s loan operation.

Shipping and Logistics Firms

A self-described worldwide shipping and freight-logistics integrated solutions provider entered the bitcoin mining sector in February 2021, which is unusual for shipping organizations. Sino-Global Shipping, located in New York, unveiled a new senior leadership team little over a year ago to oversee their bitcoin mining development efforts while remaining focused on their primary company.

Sino-stock Global’s price jumped 130 percent as a result of the news. Since its first announcement, the firm has acquired thousands of mining equipment, formed a joint venture to build new mining gear, and even begun accepting bitcoin as payment for its main services.

Asset Management Companies

The top shareholders in the public market’s major bitcoin mining businesses are some of the world’s largest investment banking organizations. However, how many investment banks and wealth management organizations actually mine bitcoin? Horizon Kinetics is one of them. In 2017, the New York-based investment management business launched its first bitcoin mining operation, followed by a second in 2018. Companies that mine bitcoins

The firm apparently oversees $7 billion in assets, and they stated that they are interested in mining in order to better comprehend Bitcoin. Horizon’s mining expansion plan has mostly consisted on acquiring thousands of mining machines and arranging hosting arrangements for their equipment.

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