Skybridge raised $7 million for industrial-scale miner project

[Lens1000]

The business of mining is a very lucrative business in the cryptocurrency space. Don't Forget that mining is a very important integral of cryptocurrency market price determination.

The impact of mining on the price of cryptocurrency or on the development of the cryptocurrency was seen last year when China issued a stiff rules on the mining of bitcoin. All the miners in China were chased out and as a result of the fact that China was the bellwether of bitcoin mining , it affected the whole cryptocurrency space and the price of bitcoin crashed immediately.

This is to Show the power of crypto mining. Since then , we have seen too many companies springing up to venture into mining activities. we also see government of the country or States government involved in cryptocurrency mining by providing enabling environment for the crypto miners . Example is seen in the United States of America when the mayor of Miami invited the miners that were chased out of China,offering them an enabling environment. And the current one was seen with skybridge capital in conjunction with some other partners to create an industrial- scale miner . The company hae raised $7 millions so far for the project.

 

[Flow-er]

There has been a great commitment of some companies to the bitcoin mining. This is to tell you that bitcoin mining is a very lucrative business that one could venture into if you have the required capital. It is also very obvious that bitcoin mining is a capital intensive business. This means that it requires a lot of capital to establish such business. It is however important to note that become mining is very important in the crypto space because it's one of the factors that determines the price of cryptocurrencies. The bitcoin mining issues that was seen in China last year further points out to the fact that bitcoin mining is very important to the crypto space. If you want to make good amount of money from the money and process you will have to set up a very big crypto mining farm like what skybridge is trying to set up. The company is no fully well that if you establish such big mining facility the profit that will be garnered from it will be very high and that means a very big success. This is exactly what is expected of a very big mining facility in an industrial scale level.