Did you know the average cost of mining 1 bitcoin was nearly $10,000, as of May 2018? And it’s increasing with each day.
Electricity and hardware are two of the basic factors contributing to the cost of crypto mining The rising cost of electricity is, in fact, the primary reason why it is becoming less profitable to mine digital coins. Moreover, the high cost of mining hardware/rigs is more than enough to discourage people from engaging in this activity.
The cost of mining greatly depends on the location of the mining network because of the difference in the electricity cost. For instance, mining 1 bitcoin in Venezuela will cost you about $600 as compared to the cost of bitcoin mining in South Korea, which is about $27,000 per bitcoin. So, you can surely move out to a country with less energy cost.
But again, that’s not a feasible option, at least not for everyone.A more definite solution would be to find alternative and cheaper sources of electricity. By reducing the electricity cost, the mining of cryptocurrencies can actually be made a pocket-friendly affair. Wondering how? Check out the example of Pieta Network.
Pieta Network and Mining Contracts
So, there are a number of companies that are experimenting with the use of renewable energy sources such as solar and wind for the purpose of crypto mining. Pieta is one of the first to develop a successful prototype.
Pieta’s mining contracts are designed to enable everyone to get involved in affordable and highly profitable mining of top cryptocurrencies like Bitcoin, ETH, and Pieta coin (native cryptocurrency).
Here’s how.By purchasing Pieta mining contracts, you will get access to a high-performance mining environment with very low input cost. Pieta Network will make crypto mining affordable for everyone in the following two ways:
Low Electricity Cost
Pieta will use green, renewable solar energy in its mining operations. Solar energy is less costly and more eco-friendly as compared to traditional energy sources. The buyers of Pieta mining contracts will get access to affordable electricity produced at Pieta’s own solar plants in Africa.
With this high-quality solar power and Pieta’s high-performance mining rigs, the productivity will be more than ever. In short, you can mine more coins in less time and at a very low cost.
Pieta will sell its mining contracts at a much lower price than the available options in the market.
No Hardware (& Maintenance) Cost
Since the Pieta mining network is cloud-based, miners will be able to access and use shared hardware for mining purpose. That means no hardware cost or maintenance cost will be there. To compete with the increasing demand, miners are nowadays forced to use cutting-edge technologies and computing hardware, which cost a lot.
Pieta, through its cloud-based mining system, will reduce that cost and make crypto mining more accessible to everyone.
Basically, Pieta will resolve the two major cost issues of the crypto mining industry, enabling everyone to mine new coins for the highest possible profits.
Do invest in the Pieta project today to start building a strong future with us. Visit- Pieta Network
Originally published on Pieta Ecosystem
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