Key Takeaways:
- Summit Mining is a startup that makes cryptocurrency mining accessible, fair, and profitable.
- Differentiating factor is mutualising used equipment from all investors leading to lower maintenance costs.
- Averaging 11.89% return on Investment per month for their clients in 2019.
- Start-up believes mutualised equipment could revolutionize cryptocurrency mining for investors.
Introduction:
As technology continues to evolve, so does the concept of currency and the ways in which we obtain it. Cryptocurrency, a digital or virtual form of currency, has quickly risen to popularity in recent years. One method of obtaining these encrypted monetary forms is through a process known as ‘mining’. Summit Mining is a leading startup in this field, headquartered in Dublin, Ireland. Their mission is to make the process of cryptocurrency mining accessible, ethical, and profitable for all.
The company utilises a unique strategy, called mutualisation of equipment. This business model could potentially revolutionise the industry and prove to be incredibly beneficial for investors. They believe this approach not only helps lower individual cost for investors but also increases profits.
What Sets Summit Mining Apart?
The standout attribute of Summit Mining is the model of ‘mutualising equipment’. What this entails is that they use the funds from investors to purchase mining equipment, but the crucial fact to note here is that the equipment belongs to the client, not just Summit Mining. They then mutualise the equipment from all their investors which makes it so individual investors do not have to bear the costs of maintenance alone – cultivating a sense of community and shared benefits. Whichever new equipment that gets added to the ‘Mining Park’, each investor reaps the benefits without any additional investment.
In 2019, Summit Mining revealed that they were able to deliver average ROI of 11.89% per month to their clients. They managed 1,300+ mining machines and had a best month where they handed out 32.46%. These statistics not only prove the success of their business model but also serves as an indication of a highly-profitable future in cryptocurrency mining for their investors.
Conclusion and Links:
The future of Summit Mining and the impact of its innovative business model on the cryptocurrency mining industry appear to be very promising. If continued trends of profitability can be maintained, their model might indeed revolutionise the industry. This could possibly usher in a new generation of investors looking to benefit from the lucrative realm of cryptocurrency mining without the extensive knowledge required or the burden of managing technical parts of the process.
For more information about Summit Mining, its practices or to become a part of their investor community, visit their website. You can also follow them on Twitter, Facebook, or connect on Linkedin for updates and further information.
Want to amplify your startup’s story? EU Startup News is your launchpad to reach startup founders, investors, and C-level execs across Europe. Discover our tailored promotional strategies such as Sponsored Articles and Partnerships. Click here to learn more or contact us directly at [email protected]. Join us, and let’s make your startup the talk of Europe!
