Bury-based Simple Crypto Hunter says enquiries have surged after Elon Musk attacked Bitcoin mining for guzzling power created by dangerous fossil fuels.
Mining Bitcoin often requires a super-powerful, energy-intensive laptop, and most mining is finished in China the place power prices are far cheaper than right here within the UK.
However Josh Riddett’s mining machines — measuring 70cm x 35cm x 40cm — are designed to mine different digital currencies like Ravencoin and Ethereum and use far much less power.
The agency’s mining rigs usually retail for £18,000 and have averaged roughly £30,000 every in annual earnings over a 3 yr interval, with the majority of those positive factors made in 2021 as digital currencies gained institutional acceptance. Long term traders noticed the best earnings.
Proprietor Josh Riddett — who was amongst delegates at an EU summit on crypto final yr — says the corporate has been experiencing large development in gross sales among the many UK’s agricultural group as farmers faucet into on-site renewable power like photo voltaic, hydro, wind or anaerobic digestion.
One inexperienced website hosts 40 mining computer systems which run 24/7. The positioning is powered utilizing Anaerobic Digestion (AD) machines which flip animal waste into renewable power.
Farmers with renewable power sources like photo voltaic, hydro, wind or anaerobic digestion can promote their energy to the Nationwide Grid for round 4-7 pence per kilowatt hour — however they will earn as much as ten instances that working a crypto mining machine as an alternative.
Simple Crypto Hunter now has greater than 250 registered clients, together with so-called Crypto Whales and excessive internet price people who usually personal 30 to 40 mining computer systems. The corporate is believed to be the one vendor of crypto mining machines within the UK with a bricks and mortar workplace.
In March, 2020 Mr Riddett was amongst delegates who attended an EU summit in Brussels on crypto currencies chaired by Sir Graham Watson of the European Financial and Social Committee.
Josh Riddett, CEO of Simple Crypto Hunter, feedback: “Elon Musk wiped billions off world crypto markets when he stated Bitcoin mining was unhealthy for the setting however what we’re doing couldn’t be greener.
“Our computer systems are able to mining a whole bunch of various digital currencies however we don’t mine Bitcoin as a result of it’s not as power environment friendly as different cash and it’s not as worthwhile.
“After we began this enterprise 4 years in the past, inexperienced power wasn’t on our clients’ radar, however now it’s roughly 40 per cent of our enterprise, and rising daily.
“It’s a good suggestion for each the shopper and the inexperienced power provider, so a win-win all spherical.”