A New Way to Mine Bitcoin and Other Cryptos

If you know anything about bitcoin mining you know it’s not for the faint of heart. You need special equipment. You need some technical know-how. A cheap source of electricity helps too.

So what’s the average person to do if they want to mine bitcoin?

One solution has been cloud mining. Genesis is a good example. That’s where you purchase a mining contract, then receive bitcoin or other cryptos based on the amount of hashing power you have. If you want to check out Genesis you can use code jWxfye for 3% off. And if you don’t think it’s for real, it is, just check out this awesome video from @trevonjb .

There’s another solution coming soon called Giga Watt. It’s the world’s first full-service mining solution provider.

Giga Watt has mining facilities in the great state of Washington where the Columbia River provides cheap hydroelectric power.

Instead of just mining bitcoin for themselves, Giga Watt hosts and runs miners on behalf of other people. To get access you have to buy the Giga Watt token, WTT.

You can do two things with WTT tokens. For those that want to run a miner, each WTT gives you access to one Watt’s worth of mining equipment power. If you don’t want to run a miner, than you can simply rent out your WTT tokens and earn income that way.

If you are going to mine then once you have the WTT token you can either provide your own miners or order through Giga Watt. Full disclosure the only miner available currently is the Asic L3+ for Litecoin.

The WTT token isn’t traded yet because the token sale is ongoing right now. The sale started June 2 and runs to July 31. The goal is to sell 30 million WTT tokens. Here’s the progress as of today.

Proceeds from the token sale will be used to build out the facilities. Giga Watt uses a unique system called Giga Pods. It turns out big mining warehouses are not the most efficient way to mine. So Giga Watt plans on building multiple pods.

At the start of the token sale each WTT cost $1. But the rate goes up over the course of the sale. Here’s the schedule.

I think it’s a good price for the token. Based on the projected numbers you can make an excellent yield both mining or renting. So I think the WTT token will go up in value once the token sale is complete and it’s listed on the exchanges.

You can find more details on the WTT token sale here.

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For more articles on cryptocurrencies follow me @g-dubs.
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