As the Bitcoin mining industry professionalized over the past few years, it became increasingly difficult for small investors and solo miners to actually participate in mining. Prices for mining machines reached several thousand US dollars, and high electricity costs, as well as unprofitable and untrustworthy cloud mining contracts, did the rest to drive retail investors out of mining and prevent them from participating in the very activity that secures the blockchain. The Infinity Hash project stepped in to provide a transparent solution, and is growing rapidly with a unique approach that will change the way cloud mining works forever.
How Infinity Hash works and generates profits
Buying Infinity Hash shares and passively earning daily Bitcoin rewards may seem complicated at first, but the actual way the project aims to change the way cloud mining works is quite simple:
- Investors sign up and buy Infinity Hash shares
- The project uses the invested capital to purchase the latest mining machines
- Infinity Hash's mining farm uses the cheapest electricity possible to produce mining rewards
- The first 50% of these rewards are paid out daily to Infinity Hash shareholders
- The other 50% is used for reinvestment by purchasing new miners to increase future profits for all shareholders
You can find more information and a detailed description of how Infinity Hash works on their website.
Transparency, lifetime contracts, and daily payouts
To fix what's broken with the current state of the mining industry, Infinity Hash has taken a radical approach that makes it transparent and accessible to the average person in Crypto, and aims to create a long-term Bitcoin mining ecosystem with trust and its own community at its core. Here are the key points that make it different from other cloud and colocation mining providers:
1. Full transparency
Infinity Hash is the first fully transparent community mining project. The project provides weekly updates, monthly transparency reports, and a real-time public mining pool to give everyone full insight into the operation. In addition, most metrics are accessible directly from the project dashboard for ease of use.
2. Daily payouts
While most cloud mining offers only allow you to invest in a time-limited contract where you receive an unknown return after the contract ends, here you buy project shares, also called "infinity hash shares". Each share represents a stake in the entire project and pays out daily rewards.
In a sense, this is like using the traditional approach of company shares, but switching from annual dividends to daily rewards, with users deciding whether they want to receive them in Bitcoin or USDT. Investors can withdraw their rewards whenever they want. In addition, shares do not require any locking or staking.
3. Community first
In order to create a truly community-first project, the people behind the project had to do a lot of development work to cut out as many middlemen as possible. This included avoiding external payment providers wherever possible, developing in-house payout systems, and building infrastructure that is solely owned by the project.
The result is that the full profits of the operation actually reach the individual investor, and investments are possible from as little as a few stats or with a minimum of 1 USDT. To further engage the community in the decision making and direction of the project, there are regular community polls and votes to steer the project, as well as an extensive FAQ where all questions are answered transparently.
4. Easy to use dashboard
To make Infinity Hash truly accessible to everyone, the project has developed its own dashboard. The only requirement is a working email address and a Bitcoin wallet. In the dashboard, users can buy and sell Infinity Hash shares, view their mining profits, convert mining profits to USDT, withdraw their rewards, and get an easy view of current statistics and other data of the mining pool and farm.
5. Built-in halving protection
The folks behind Infinity Hash have been in the Bitcoin mining space since around 2018, primarily serving clients in a colocation context, where clients host their own mining machines at a mining farm that provides power and maintenance services to their machines. One of the biggest problems they saw when working with customers, and looking at customer success in general, was that many customers were buying outdated or low-quality hardware and not applying a reinvestment strategy. This resulted in dissatisfied clients who left the industry after just one bitcoin cycle.
To prevent this from happening, and to build a long term sustainable project, 50% of all profits generated by the project will be used directly to perform regular maintenance, necessary repairs, and to purchase new high efficiency miners that will still be profitable after the next halving. This way, not only will each community member's daily reward increase over time due to new miners, but the project will actually still be around after the next halving, and will have the funds and income to continue growing when many other miners go out of business due to difficulty changes and halved rewards after each halving.
6. No KYC
To protect community members and investors from the significant privacy and security risks of a KYC audit, the Infinity Hash project has decided to categorically reject KYC. The only thing you need to sign up for an account is a working email address. In order to provide all users with an easy way to report profits for tax or other purposes in a legally compliant manner, the dashboard provides a detailed income overview, which can also be used to export a CSV file for integration into various accounting and tax applications.
In order to provide real transparency into the operation of the mining farm and profit generation for its community, Infinity Hash has created an extensive blog where it's weekly updates and transparency reports as well as other information about the project are published. The best way to get in touch is through the Telegram group.