Bitcoin Miners keep the Bitcoin network secure and process transactions, using a large amount of computational power and real world energy in the process. In exchange for their service, Bitcoin miners are paid in BTC. When done effectively (using the right hardware and low-cost electricity) mining is highly profitable, and it’s often a more efficient way of acquiring BTC than simply purchasing it in the open market.

Bitcoin is a decentralized, peer-to-peer monetary network with its own native currency called BTC. Bitcoin has gained popularity due to the network’s resistance to censorship as well as the fact that there will never be more than 21,000,000 BTC – making it uniquely suited to be a reliable long-term store of value.

Profitable Bitcoin mining requires low-cost power; much lower than typical residential rates. Waresox operates data centers in remote locations of the United States that have access to some of the lowest priced electricity in the world. Alongside running miners for ourselves, we also “host” mining equipment for other miners, allowing them access to our facilities (in exchange for a fee) in order to maximize the profitability of their own Bitcoin mining operation.

Mining Bitcoin with Waresox involves an up-front cost in purchasing the mining hardware, and then you are billed monthly for the electricity consumption of your miner(s). The up-front cost varies anywhere from ($1,000 to $8,900) based on the miner – newer machines that are more efficient and have higher operating profit margins are going to be more expensive. The monthly cost also varies based on machine type and your electricity rate (the starting electricity rate for Waresox clients is $0.078/kWh). The monthly electricity cost will almost always be less than the $ value of the BTC that your machine mines each month, which is what makes this a profitable endeavor.

One way to get started is to visit the Waresox Marketplace. Here you’ll see hundreds of machines that are available for immediate purchase. Prior to making a selection you can see the estimated profitability, the historical uptime/hashrate of the machine, the serial number (you can check with the manufacturer to see if it is still under warranty), and other insightful metrics. The ethos of this platform is transparency. If you’d like to speak to a live representative, Start Mining Todayfill out this form here and one of our mining-experts will get in touch with you! We will help create a personalized strategy to fit your investment goals. This is also a great option if you’re looking to purchase multiple miners at once – for bulk buyers (5 or more machines) we can typically offer better pricing than what you’ll find on the marketplace.