Macro Energy mints solid profit from Bitcoin mining
Macro Energy (ASX: MEJ) should trade higher today after generating in
excess of 1,700 Bitcoins in 42 days from the first instalment of BitFury
mining hardware on 20 March 2014.
The Bitcoin market price today is approximately US$430 for 1 Bitcoin, and MEJ is capitalised at $11 million.
The second instalment of state of the art BitFury mining hardware is expected to be delivered and operational later this month.
In addition, trading desk operations have generated a return of 31% from funds invested up to 30 April 2014.
digitalBTC’s
mining operations involve buying state of the art mining hardware,
mining Bitcoins and then selling the hardware as required to keep at the
forefront of technology, typically within two to six months of
purchase.
digitalBTC’s trading desk trades digital currencies
such as Bitcoin, through major internationally recognised exchanges
using specialised strategies which include arbitrage, buying long
positions, selling short positions, futures contracts and market making.
Bitcoins generated from mining operations are liquidated into
US dollars in association with these trading activities – typically
several times a week on various Bitcoin exchanges.
Bitcoin is a peer-to-peer payment system and digital currency, with a total market capitalisation of around US$5.5
billion.
Over
65,000 Bitcoin transactions occur daily for a trade value of US$55
million, on a rolling twelve month basis, and in excess of US$20 million
in value is regularly traded every 24 hours.
digitalBTC is well
placed to take advantage of this revolution and will investigate further
strategic opportunities within the digital currency sector.
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