Photo by Rebcenter on Pixabay
The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.
You don’t have to be an aficionado of the financial markets to know that cryptocurrency is booming.
As Bitcoin breaks the $60,000 mark, millions of crypto miners are reaping the rewards of their labor, and millions of others are joining the chase.
One such entrant is OLB Group (NASDAQ: OLB). Joining the likes of Marathon Digital Holdings (NASDAQ: MARA), Bit Digital (NASDAQ: BTBT), Hut 8 Mining Corp. (NASDAQ: HUT), Riot Blockchain (NASDAQ: RIOT) and Canaan Inc. (NASDAQ: CAN), OLB Group is developing a state-of-the-art, mining-machine line to capitalize on the crypto surge.
But the clock is ticking. According to Blockchain.com, 18.84 million Bitcoins have already been mined, and crypto miners are already diversifying into smaller coins like Cardano (ADA), Monero (XMR), Ravencoin (RVN) and Doge (DOGE).
For crypto miners, the added competition and the diminishing supply only intensify the need to create as efficient a mining system as possible.
And here is where OLB Group has an edge.
What Makes a Good Mining Machine?
The efficiency of mining machines can be summarized through 3 important characteristics: hash rate, power consumption and durability.
A higher hash rate means your computer can take more guesses per second than its competitors, making it more likely that it will find the mathematical solution needed to successfully mine a cryptocurrency.
The ideal mining machine has a high hash rate, a low power consumption (this helps reduce the electricity bill) and good durability.
Gaining a Competitive Advantage
The DragonMint T1 is as ideal as it gets in this market. With a rumored development cost of $30 million, the mining machine has a speed of 16 terahashes per second (TH/s) and a power consumption of 1,480 watts (W).
According to BitDegree, the 2 closest competitors, AntMiner T9 and M3X, can only muster 10.5TH/s and 13TH/s. And it’s worth noting that the M3X’s power consumption is 600W higher than the DragonMint1.
OLB Group is looking to use such state-of-the-art hardware in its newest crypto mining project. Equipped with the right technology, OLB Group will be able to capture cryptocurrency faster and cheaper than competitors.
Moreover, a brand-new, well-ventilated and properly managed farm of cryptocurrency miners can help reduce costs that older participants are less capable of diverting. The cruxes of older systems, such as viruses, overheating and equipment malfunction, bear much less an influence on these newer and more advanced technologies.
Is There Still Time?
The trajectory of cryptocurrency has been spectacular. Since 2017, Bitcoin has grown 6,500% and has been the best-performing asset class for 2 years straight. Currently sitting at all-time highs, many believe that the cryptocurrency run is far from over.
No one can know with certainty where the currency will go, but what you can know are the players suited to take advantage of the ride.
OLB Group is one of those players, and it looks like it’s just getting started.
The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.
See more from Benzinga
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.