Mining Crypto The New Gold

For the longest time now silver and gold have been sought after as a store of value. However over the last years we have found how manipulated these markets are and that stores of value for gold and silver for many reasons just doesn't make sense anymore.

With inflation raging and prices booming you would think gold and silver would follow.
Instead we have this...

All times low for two primary assets that should be pumping. Instead we have this on the crypto front.

Pumps across the board fueling new innovation, tech and entertainment. Its to me the dawn of a new system much like the creation of the internet and we are very much so still in the starting phases of it.

Mining

I wrote a article a bit about mining the other day here...

Crypto Mining and Rapidly Heating Up

Which goes over the rapid battle between companies to bring on as much mining power as possible to mine for Bitcoin primarily.

This battle is heating up quickly as massive amounts of funds are being poured into infrastructure to support it was well as production of Bitcoin.

Companies

It wasn't until early this year that we started to see companies be born out of crypto mining and even whole countries picking up mining of bitcoin. This fueled many new companies to come about. As bitcoin holds over $60,000 the mining race is in huge profits right now. The boom came even more into effect when China kicked all of their crypto miners out and it's only been in the last few days where we have seen almost the recovery of TH/s climb back up.

Much of this however also has to do with the price of bitcoin. If the prices fall too much miners will shut down to reflect this change as it becomes unprofitable. However from what we are seeing the demand of Bitcoin in the next 3-6 months is going to increase along with it's price as development in this sector sours.

The Companies

Right now as far as I know there are a few companies that are publicy traded in the mining aspect of crypto. Those would be.

ARGO
BitFarms
Hut 8
HIVE (not to be confused with our platform)
Marathon
Riot

These companies have produced a decent amount of bitcoin in there mining
In Q3 along they accounted for these numbers.
Argo - 596BTC
BitFarms - 1050BTC
Hut 8 - 890BTC
HIVE - 655BTC
Marathon - 1252BTC
Riot - 1291BTC

Each quarter a majority of these mining companies are pumping out well over 77 million dollars in bitcoin.

IN all it seems like this sector will continue to be a very hot area for the next few months at least. I also see it sparking new innovation in energy production and how it's used. As I covered in the other article nearly 50% of electric produced and pumped out on the line is wasted and needs to become more efficient. While a 0% waste will never happen tech and innovation can help improve this and even a 5% improvement would be massive to the entire supply.

So what are you thoughts do these companies look like solid bets to invest in?

Posted Using LeoFinance ^Beta