Mining for Bitcoin, Ethereum, Zcash and cryptocurrency is fun!
It’s a little bit like dollar cost averaging when you invest in stocks. Your equipment creates currency every day. Once your equipment is paid off it is generating residual income for you every day, week, month, and year.
Unlike investing, you own equipment. If you invest in cryptocurrency and trade it on an exchange you risk losing your entire investment. If you own the equipment that equipment should have some resale value for you. It is also an asset that can possibly be written off as a tax deduction (talk to your accountant.)
Mining also helps support the network. Cryptocurrency couldn’t survive without a network to support and process all the transactions.
If you’ve heard of “decentralization”, spreading the work across more miners is good for decentralization. This helps prevent one large group(s) from gaining control of the network and the cryptocurrency.
With Crypto Gulch you control your own currency!
We offer an interface for you to put in your own wallet address. We mine directly to that wallet address for you.
The frequency with which you receive payments is based on the speed of your mining equipment and the coin you mine. The more equipment you purchase the higher your hash rate and the more currency you will mine on a daily basis.
You only need to purchase a starter kit once. After that, the price of the GPU includes a little extra fee for us to purchase the rest of the components necessary to build your rig. You don’t have to worry about that. You just add GPUs to your account. We’ll figure out the rest of the parts needed on your behalf.
We try to fulfill orders from inventory we have on hand. If so your miner will be activated within 24 hours of you placing your order and giving us your wallet address. However, sometimes we have to purchase new equipment. As soon as the inventory arrives, we’ll set up the mining rig for you.
If you have a wallet address already, we can mine to your address. If you do not have a wallet we can also assist you with setting up a wallet address. A wallet is like a “bank account” for crypto.
We offer an interface to check your statistics and make updates to your account. You can also follow the process of coins being mined and deposited into your wallet. Depending on the hash rate of all the GPUs you purchased combined, funds will be deposited into your wallet on a regular basis. The more GPUs you own the faster your hash rate and the more coins you mine faster.
You can also purchase your own equipment and send it to us to host for you. The same co-location fees will apply as well as a small setup fee. For more information on having us host your equipment please contact us.
I’m Ben Fitts. I have been an entrepreneur for most of my life. I’ve been very involved in the Internet movement. I ran a consulting company setting up internet providers back as early as 1995. CP-Tel Network Services hired me back in 1995 to setup their dial up internet services and web site. They still exist today. I also have 20 years experience as a web developer and system administrator.
I began mining back in 2013. I learned a few difficult lessons including my first $4,000 loss. Since 2016 I began mining in earnest. I now am a partner in MinerParts, a company that sells hardware and components for miners. MinerParts has been selling to miners since July 2016.
I’m making my expertise available to a few of my friends and family. They don’t have the time to learn how to mine crypto or keep up with the market. I do. I’m already doing it for myself why not make my experience available to others? Why not make my expertise at getting and building the equipment available to others?
This is how Crypto Gulch came to be. I wanted to get my mining rigs out of my house. My mining operation was growing too big. At the same time, a few of my friends expressed interest in getting started mining. Crypto Gulch became a way for me to expand my own mining and help some friends at the same time. Win, Win!
Yes! The GPUs you purchase from us are yours to keep. You can have us ship them to you for a small fee or we can help you sell them by offering the GPU to some of our other customers.
Why not both mine and invest!?
Investing is risky especially since the price of a coin can vary wildly. Coins are traded 24/7 and even on Holidays. There is no downtime. You can go to sleep and wake up and find some “bad news” caused your portfolio to lose 10-20% or more. It is possible to lose some or all of your investment. It is entirely possible the coin you are invested in crashes and goes to nothing. This is probably less likely to happen with a major coin like Bitcoin but it has definitely happened to some of the smaller coins I’ve owned.
With ownership, you invest in hardware, not a coin. That hardware will mine crypto coin for you 24/7. The maintenance of the hardware is automatically deducted as a part of your hosting fee. No bills for you to pay and 100% uptime guaranteed (downtime comes out of our hosting fee.) The crypto is directly deposited to your wallet address. There is NO pass-through of currency and you can see your specific hardware stats at any time.
With ownership, you also can write off the equipment for taxes or resell it. With a lease, if the vendor goes out of business you lose everything. (This happened to us in 2014.) If this happened with us, you’d still own the equipment and we’d make arrangements to ship the equipment to you or assist you in reselling it. Whichever you prefer. (A small fee would apply.)
In 2018 we’ve also seen issues where a coin is in high demand but may only be traded on a few exchanges. Those exchanges are closed to new customers due to their lack of ability to keep up with onboarding of new users. (Bittrex for example.) You couldn’t go onto an exchange to buy the coin unless you had previously created an account on Bittrex. The only way to get it was to mine it.