The crypto mining landscape is evolving and older mining systems are becoming absolute. However, shinier startups with modern mining equipment are taking over. Astra International has put together highly skilled professionals to support their mining management software.
Potential in crypto mining
In a recent interview with Newconomy, the Head of Community at Astra, Mike Smirnov acknowledges the potential in crypto mining despite the current market slowdown. He, however, adds that use of expensive equipment means reduced returns and that is why some mining firms are going under:
“In November 2018 alone, over 21% ASICS were turned off leaving over2.6millions ASICS in operation. With the influx of coins and tokens into the market, mining competition is on the rise.” He goes on to say: “mining is becoming expensive and the cost of mining is escalating and Russia, China, and Canada are set to be the crypto mining hubs given the cost of power is affordable.”
As a mining startup, Astra has an upper hand in its products offerings that offer its clientele non-expiring contracts irrespective of whether the market is down or heading north. This is a value proposition that no client can turn down since there are no surprise penalties or hidden costs.
Cost of Crypto Mining Going Up
Astra takes pride in its transparency in its mining operations. All public offerings from the Astra mining pool are dependent on the pool vote results making decision making 100% decentralized. Participants have the freedom to offload their shared when the markets are favorable.
Unlike other mining firms, Astra distributes investments to hundreds of partner mining firms. As an investor, you have peace of mind; a new concept in crypto mining and Astra’s first. Secondly, 100% of Astra’s’ investment is used to ensure the systems run optimally and are kept up-to-date. The system keeps costs low since the pool rides on a distributed network.
According to Astra’s Smirnov, the blockchain industry needs to relook at the evolving mining industry needs;
“… is the evolution of mining in the real world, the most reliable, innovative and profitable product of the mining industry that caters to the needs of a new generation of miners. If mining ever had a second lease on life, a modern outfit is one that breathed life into it…”
Astra is one of the new mining pool that are embracing efficient equipment that does not consume a lot of electricity and that is where the crypto mining is headed.