The interest and development of the crypto mining businesses have taken off in the past couple of years. While mining is a major functionality for assets such as Bitcoin, Ethereum, etc, it is often difficult to set up your own mining unit. Hence, mining firms have become popular amongst interested investors but making profits out of such investment is still complicated. In such a competitive landscape, SummitMining represents a transparent mining platform, where the business model has been developed while keeping the client’s best interest in mind.
Its objective revolves around community spirit, transparency, and convenience, which possibly sets it apart from any other mining platform in the industry. The team comprises of people carrying 16+ experience in the investing business, facilitating close to 954,000+ euros in mining profits since 2019.
SummitMining: A different outlook on Crypto Mining
While the principle of mining and incurring profits from validating different transactions remains the same, SummitMining has a unique business model that sets it apart from other competing platforms.
Unlike most popular mining sites, SummitMining does not rent out its mining equipment to the ones investing in the platform. It is common practice with other cloud mining platforms but with SummitMining, community mining is the main objective.
The concept of community mining basically indicates that rather than investing one’s capital on a specific mining unit, it is focused on developing the entire mining firm, and the collective profits achieved from all the machines are equally distributed at the end of every month.
The main advantage of such a system is that investors do not lose on profit if any machine undergoes a breakdown. Since they are investing with the company and not on a specific unit, the transparency between users and SummitMining is evident.
Cryptocurrencies mined by SummitMining
The company is currently mining only 5 digital assets that meet the company standards. According to Mathieu Vincent, CEO of SummitMining, the evaluation process of adding a coin to its platform needs to be filtered in terms of volatility and price activity. The organization is careful before adding a new coin, in order to remain profitable for the company and its clients. The mined tokens are listed below:
- Bitcoin: 25% of mining profits come from BTC. 24 BTC mined to date by the clients.
- DASH: 15% of mining profits come from DASH. 1805 DASH mined to date by the clients.
- Ethereum: 5% of mining profits come from ETH. 354 ETH mined to date by the clients.
- Litecoin: 15% of mining profits come from LTC. 1657 LTC mined to date by the clients.
- Zcash: 40% of mining profits come from Zcash. 6,254 ZCASH mined to date by the clients.
How can new clients invest with SummitMining?
As mentioned on the website, Interested clients may enter the mining pool only once every month, and the next round of investment is taking place exactly 07 days and 10 hours from press time. The exact timestamp of the next round of investment is illustrated below(subjected to change every time you read it).
Source: SummitMining.
The reason for the company’s one-timely investment per month is the fact that they purchase “wholesale” machines once per month to obtain the best prices, and hence register better profitability for every one of its clients.
Hence, it is important to note that if interested investors missed the date, they will have to wait for another month.
The next date of SummitMining’s monthly investment is on 13th November, 11:00 PM UTC.
The minimum investment per client is 2000 euros at the moment. However, before the investment, there will be communication facilitated between the client and SummitMining. The organization will explain its services and if evaluation suggests that SummitMining can attain its client’s expectations based on their finances, they will welcome them onboard.
At the end of the evaluation or meeting, SummitMining will send its client a clear contract, in order to formalize their investment. After that, investors will receive interest on their investment directly on their crypto wallet once every month, and if investors failed to receive one, it will be explained in detail to the client.
Verdict
AMBCrypto recently had an interview with Mathieu Vincent, CEO of SummitMining and he shared his journey of joining the crypto mining business. While the platform itself is extremely legitimate with standard policies and contracts, the CEO indicated a certain sense of sincerity with the organization. He expressed his goal to make cryptocurrency accessible to his clients in a transparent, diligent way so that organic adoption of Bitcoin and other digital assets can be improved for the future.
The full interview can be visited on this link.
Visit SummitMining on their official website.
Disclaimer: This is a paid post and it should not be considered as news/advice.
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