Provident Capital Limited Launched Hydro Cloud Mining Farm Project

November 26 22:42 2021

Crypto-mining had become a main source of income for many in the modern world. By doing proof-of-work algorithm, miners are rewarded with the coin they minted.

While the population of cryptocurrency miners keep Increasing, the amount of electricity used to mine cryptocurrency has historically been more than electricity used by entire countries. According to the Cambridge Bitcoin Electricity Consumption Index, crypto-mining operations worldwide now use energy at the rate of nearly a hundred and twenty terawatt-hours per year. This is about the annual domestic electricity consumption of the entire nation of Sweden.

Beside than heavy electricity consuming when mining bitcoin, 65% of worldwide miners uses charcoal to power the mining process of Bitcoin with the release of 36 million tons of carbon dioxide emission and this deeply impact the environment. Hence, Provident sees the huge potential and demand in crypto mining and invested USD 100 million to build a hydro power plant with enough clean energy to power up 10,000 of mining machines.

Things people Need To Understand About Cloud Mining

Cloud mining is a mechanism to mine a cryptocurrency, such as bitcoin, using rented cloud computing power and without having to install and directly run the hardware and related software. Cloud mining firms allow people to open an account and remotely participate in the process of cryptocurrency mining for a basic cost, makes mining accessible to a wider number of people across the world. Since this form of mining is done via cloud, it reduces issues such as maintenance of equipment or direct energy costs.

Cloud miners become participants in a mining pool, where users purchase a certain amount of “hash power.” Each participant earns a pro-rata share of the profits in proportion to the amount of hashing power rented. The main disadvantage of Cloud Mining Is to find a trustable cloud provider but here in Provident x Coinbase Wallet, Investors only need to place their Investment under Coinbase Wallet under Investor’s name.

A Great Opportunity To Become A Cloud Miner

The advantages of cloud mining are that they reduce overall costs associated with mining and allow everyday investors, who may lack sufficient technical knowledge, to mine cryptocurrencies. Provident Capital are now expanding their cryptocurrency mining farm to Hydro Cloud Mining, why not seize the opportunity and become a cloud miners? With the high percentage Return Of Investment (ROI),  Investors enjoy returns up to 60% p.a. with all assets under your own care.

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Company Name: Provident Capital Limited
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Country: United Kingdom