Recent weeks have seen trading of bitcoin go into overdrive, as a rise in trading commissions and hacks in China pushed the bitcoin price up to several records in a week. For Bitcoin-investing enthusiasts, the recent markets have brought more opportunities than one could shake a stick at. The perfect time to add to one’s basket might be now, however, while prices are still high, overstretched of course.
Buying into the bitcoin market can sometimes be difficult, but one way to gain exposure to the cryptocurrency – as well as other cryptocurrencies – is through owning a few bitcoin mining rigs. Mini-computers that constantly solve mathematical puzzles to improve the block-time statistics of the blockchain, “mining” bitcoins is a way to gain indirect exposure to bitcoin trading without the transaction costs or volatility. Investors can buy mining rigs in various forms, from desktop computers all the way up to powerful CPU and GPU machines.
One popular investment method is through Omega Mining, a company who offer their services to brokerage firm TD Securities. They place miners in the common shares of their mining companies, which have a high dividend payout. Omega Mining provide cheap but highly reliable services to keep bitcoin mining companies running, which could prove quite lucrative for investors who put their bitcoin investments into mining operations.
Mining companies can also form short-term contracts with Omega for mining services, such as powering the computers and calculating block times to make bitcoin trading more efficient. They are a standard tool within the trading community, but prices can be a bit volatile from a brokerage point of view. Omega deals with the risks of precious metals mining companies by choosing to work with the most stable names in the business.
In a small firm such as Omega, their services alone are able to generate considerable returns from their mining projects. For example, Omega managed to turn a USD9 million profit from mining ventures on January 1, 2019. The company also has projects which generate a 6-7 percent return on their investment within days, making sure that investors are protected by waiting and praying for prices to drop for another opportunity. The return one can get from their income streams makes mining projects relatively cheap as an investment method, taking your risk into consideration.
The Ethereum mining market is currently in a downtrend as well, and investors looking to get exposure to the cryptocurrency market may want to consider Omega Mining for making sure that their bitcoin holdings are safe.