Crypto Mining & Underutilized Resources

Cryptocurrency mining first began in 2009. At the time, people were able to mine bitcoin from home with their PC plugged into an outlet. As the block chain has grown, the complexity of the mathematical equations that must be solved has also increased, causing increasingly powerful computers to be used. PCs gave way to GPUs (graphic processing units) which gave way to ASICs (application specific integrated circuits); a powerful microchip designed for a special application.

As modern mining operations utilize these ASICs to mine cryptocurrency, they must have three key ingredients for success: a crypto friendly government regulatory structure, a stable and safe mining environment, and low cost power to optimize mining efforts.

That's where stranded and underutilized resources come in. By converting these resources into electricity, we can have stable, reliable power to run mining operations for a fraction of the cost. This is game changing for crypto currency mining.

How It Works

Location

Diamond Coin always utilizes a Wyoming LLC for each of its projects to capture the most detailed and crypto friendly regulatory structure in the United States. A leader in the industry, Wyoming provides a friendly, safe, and stable environment from which to operate.

Power Source

Diamond Coin works to identify possible power sources from underutilized resources. This could be extra natural gas or stranded electricity that is available but not being used.

Electrical Generation

If the resource is natural gas, it is converted into electricity, or, if the resource is stranded electricity, we work with power companies to gain access. Both of these options minimize power costs and maximize return.

Huts

Once the resource is converted into usable electricity, the power is run into a remote mining facility called a "hut". These data centers protect and power the mining computers and keeps them safe, clean, cool and connected to the internet.

Crypto Mining

The mining computers run 24/7 solving complex mathematical algorithms which secures the blockchain network. These miners periodically receive "rewards" for being part of the process, enabling the owners of the miners to earn bitcoin over time.

The Benefits to Oil, Gas, & Power Companies

Using stranded and underutilized resources can also have great benefits for oil, gas, and power companies as they work to efficiently utilize assets and reduce waste. Here's how:

Repurpose Stranded Assets...

By converting stranded power assets and putting them to use as electrical power for crypto mining operations, companies are able to reduce waste and increase profitability.