Cryptocurrency mining can be an extremely profitable venture, but has become complex and difficult as the cryptocurrency mining industry has matured. As consumer adoption of cryptocurrency increases and the userbases of high cap cryptos increase, so too does block difficulty.
In recent March 2018 develops Mintage Mining started claiming they were pre-compliant in regards with the SEC regulation and cryptocurrency cloud mining business model. The alleged partnership of Darren Olayan and David Childs in Mintage Mining is still here and has recently went public with videos discussing legality and aspects of interest for all of those involved.
What was once possible with a simple high-powered GPU now requires specialized mining equipment, creating a barrier to entry that prevents newer miners from investing in high cap crypto mining without a significant initial investment and ongoing capital.
As a result, mining pools have become a popular method of mining that allows cryptocurrency miners to combine their resources together to generate capital on a regular, reliable basis. Another method of mining has taken this concept further, and allows miners to “rent” mining equipment through “cloud mining” platforms.
Mintage Mining is a new variation on the cloud mining concept, and allows miners to invest in a contract to mine a specific coin or a range of different coins on a weekly basis. In this article, we’ll take a look at the Mintage platform and find out how it works to help you determine if it’s the right mining solution for you.
What is Mintage Mining?
Mintage aims to bring together like-minded cryptocurrency miners in order to mine the most profitable coins on the market. The Mintage platform works in a similar manner to a traditional mining pool, but uses the novel concept of a “mining bucket” to ensure the reliability and availability of the mining capacity of any given coin. Mintage offers users a selection of the most profitable currencies available on a weekly basis, selecting from currencies such as Monero and Bitcoin to identity the best possible mining opportunities.
How Mintage Cryptocurrency Mining Co-op Works
Each week, Mintage selects a “mining bucket” that eliminates the complexity from the mining process. Mintage offers miners a weekly bucket, which functions as a contract to mine a mix of coins, or one specific coin. The contract offered by Mintage crypto mining can consist of just one mining provider, or with multiple different providers. These providers can include data centers, mining networks, or a range of different cloud-based mining programs. Users purchase mining units, which last for a predetermined amount of time. Users are then paid for the coin that is mined during the weekly period, which ends on Wednesday.
Mintage Mining Controversy
Mintage has been extensively promoted by Nui, which is a recently formed MLM platform created by the combination of two large MLM platforms, Divvee Social and Hodo Global. Mintage has been heavily pushed by the Nui platform, and despite the relatively recent addition of Mintage to the mining ecosystem, have claimed that it boasts some of the largest pools in the world.
The primary point of contention industry observers have with Nui and Mintage is that neither platforms can be found in the SEC’s Edgar database. As Mintage pays Nui affiliates that invest in the platform a passive 1% ROI on a weekly basis, it can be- from some perspectives- considered a security, making the Mintage platform a potential unregistered securities offering.
The Mintage Crypto Mining Co-op Verdict
Mintage mining offers a unique approach to the mining process, and to date has completed a run of successful and profitable mining ventures that can be viewed on the Mintage website. While it’s possible that Mintage could potentially be classified as an unregistered securities offering, if you’re interested in trying out a highly diversified method of cloud mining, Mintage is definitely worth closer investigation.