2020 has proven to be a challenging and eventful year for many of us, including the BitDeer.com community. Nevertheless, despite it still being early into 2021, the cryptocurrency and blockchain community witnessed several important events. Bitcoin’s total mining revenue has reportedly reached $33 million a day. While total mining revenues were only higher for a limited period of time back in December 2017, present estimates have risen by around 90% from the days before Christmas 2020. By the end of 2020, Bitcoin’s price spiked from mid-December has resurrected markets for older mining equipment previously considered outdated. Needless to say, it has been a time of sweeping change in the world of computing power sharing economy. In this article, we retrace our steps that we have taken during this tumultuous time.
BitDeer.com has been active in coming out with incentives to bring more benefits to their users. This includes giving users access to the latest in the computing power sharing industry, such as pioneering mining plans with the highly efficient and sought after S19 and S19 Pro machines. The S19 and S19 Pro plans were sold out in 2 minutes, and BitDeer.com subsequently launched an acceleration plan in March that allows customers who purchase their S19 Pro mining plans to gain returns at a faster rate. It came fully loaded with a multitude of variances for the consumer in order to maximize the return catered to their needs. For a limited period, purchasers of S19 Pro mining plans are able to enjoy up to 50 free mining days. With low power consumption and the longstanding trust the platform has built and nurtured with suppliers and mining pools, BitDeer.com has provided this unique cloud hashrate plan to further accommodate their community. In China, the wet season of their river has traditionally been a sign of prosperity. At the same time, this season is associated with lower energy costs. The first-ever Wet Season Festival launched on 21 April 2020 brought together eight of the most respected companies in the mining industry, including more than 10 high-quality hydropower mining companies in Sichuan and Yunnan, China with a capacity of more than 300,000 KW, to pay a low electricity hosting fee of just $0.03 kWh, as well as other discounts.
May 2020 saw the Bitcoin halvening. Prior to this, there had been speculation as to the effects of the halvening event. It had been reported in the aftermath that there was a decline in the volatility of the price of Bitcoin. According to Coindesk, the reward per block mined on Bitcoin’s blockchain was reduced to 6.25 BTC from 12.5 BTC at 19:23 UTC on the day of the halvening, when the cryptocurrency traded close to $8,500. During that period, prices have generally been limited to a small range of $9,500 to $9,820. According to Rui Shi, our CMO at BitDeer.com, “the dream of independent mining has died along with ICOs”. With regards to the efficiency of today’s cryptocurrency miners, she compared them to that of Amazon’s Web Services. She was mentioned in Forbes saying that “massive data centers that achieve much greater efficiency with the economy of scale sprawl throughout the world using the leftover energy produced by renewable energy to provide a decentralized economy that’s disrupting the entire finance industry.” It seems that computing power sharing has become all the more important since the halvening, and we are committed to doing what we can to be of service to the community.
The mission of BitDeer.com is to cater to the needs of the market according to the trends. We observed that cryptocurrency mining has changed from home production to large data centers and individual miners have found it hard to mine independently due to increased hashrate difficulties, inhibited maintenance costs and capital expenditure needed to operate. In answer, our new offering-the “Cloud Hosting” service. BitDeer CEO Xiaoni Meng stated during a conference in November 2020 that computing power sharing is a fastly growing industry and the increasing customer demand is driving the mining industry to transform and switch to computing power sharing. On one hand, based on the advantage of large scale operations, cloud services can lower the operating cost, optimize allocation of resources, the capability to intelligently operate and maintain the system also brings reliability, sustainability and connectivity. On the other hand, BitDeer created the world’s first group buying experience that greatly lowered the barriers to access for individual miners whilst still ensuring adequate volume for computing power. Besides, computing power sharing can act as a “hub” for the entire cryptocurrency ecology that connects every aspect of the service industry chain. Since the launch of “Cloud Hosting” in October 2020, BitDeer has in a true sense realised one-stop hosting of mining machines online. Not only would users be able to lease mining machines, but prospective buyers also have the potential of ownership at a fraction of the cost of acquiring and maintaining their own mining machine.
Aside from this, 2020 was the year we rolled out our first ever mobile application. With the smartphone app, customers can freely and safely order and maintain their accounts at their fingertips, including purchase plans, and pay for electricity. The features available on the BitDeer.com mobile app include the ability to track active service plans, view regular sales, move mining pools, update the revenue address, and renew electricity bills. We closed the year with our second anniversary celebration, where we launched a week-long promotional campaign to give back to its users for their continued support. The awards included free cloud hashrates from 1000 of their mining machines, gadgets, gift vouchers, mystery box prizes and more. The deals focused on the newly released mobile app, enabling users to interact with the one-stop shop.
As for the 2021 trend, Meng Xiaoni claims that there are two possibilities. One is that Bitcoin’s total volatility would be increasing at a high rate. and the On the other hand, from the perspective of global economic growth in 2021, she stated that it is unlikely to be comparable to the March 2020 global liquidity crisis, and that the possibility of currency prices dropping below $4,000 is relatively small. Regardless, BitDeer.com will be here to support our users throughout any climate.
We at BitDeer.com are grateful to our supportive community and we look forward to bringing more news and developments in the future!
For more information, please visit
Website: https://www.BitDeer.com
Facebook: https://www.facebook.com/BitDeerplatform
Twitter: https://twitter.com/BitDeerOfficial
