Summit Mining, invents community mining
Crypto mining by Summit Mining
What if you invested in crypto-currencies via mining? No need to go and play online trader and have to manage a portfolio on a daily basis praying every day that your portfolio is in the green. Crypto mining is very profitable, but only if it’s not done by an individual alone.
Unlike its competitors, Summit Minning does not sell or rent mining machines. No, this young company, which is attracting a lot of attention in the industry, buys the most interesting machines of the moment with funds from its customers and other investors. It then adds these new machines to the mining fleet it manages and this is where it gets very interesting: once a month, all the profits generated are shared between the clients, in proportion to their investment. Summit Mining pays itself a percentage of the net amount its customers earn (between 10 and 15%, this could increase to 20% in the near future for new investors), which obviously gives them an incentive to generate the highest profits for themselves.
This “community mining” has two major advantages for the investor:
- It significantly reduces risk, because if a machine fails, it will not have a direct impact on your machine but on a very small percentage of the machine pool of which you own a part.
- While improving the return on investment (ROI).
The main advantage of community mining is that everything is shared. Costs are shared, machines are shared, revenues are shared. As I said before, if a machine stops, it will not impact one person but all the investors, which greatly reduces the loss. In addition, the company pools the available funds and only places orders once a month, thus benefiting from much lower prices than anyone else and being able to buy more machines, which is good news for its investors who see their potential profits increase.
This notion of community is not a marketing argument. Clients are indeed supported throughout the investment process, but also afterwards thanks to a Discord channel in particular, via which they can dialogue with the Summit Mining team, which is generous with advice and not only concerning the company. Mutual aid is the order of the day on this discord and for all subjects (crypto, taxation, markets,…). You will also have the possibility to join the live of Mathieu Vincent (founder and CEO of Summit mining) every Wednesday and answers the questions of the week.
If the ROI is never guaranteed (and it is a good thing that it is not, because those who do are simply liars or it’s a scam), on the other hand, the ROI depends strongly on the price of crypto! Nevertheless, here is a summary table for the last 3 years:
Withdrawal possible
At the beginning of each month, after sending you the mining report (really interesting with a recap of mining performance, an analysis of the different markets…), Summit Mining customers could be paid in different ways:
- in the five cryptos they mined
- in BTC only
- in USDT only
- by reinvesting the funds in the next order
- by reinvesting the funds in Summit Gravity (another service offered by the company)
You can then convert them into euros, dollars, etc., or simply keep them in your crypto wallet until the price of cryptocurrencies rises. As I was able to do, until my recent reinvestment.
It is important to know that if you invest in Summit Mining, you will receive Mining Park Tokens (MPT). One MPT corresponds to one euro that you have invested. Thus, the sum of all the MPTs issued is the sum of all the investments. In this way, you have a certain share in the company’s mining park, proportional to the amount you have invested. This amount is then used to calculate the amount you will receive each month. However, it is not really a token, you will not be able to trade it on an exchange. However, you can always resell them via Summit Mining.
As I mentioned above, Summit Mining has a lot of interaction with its investors and provides information not only on the machine park but also on the crypto markets. In fact, every month we receive an operating report which includes :
- The personal operating report, summarizing your dashboard and your performance of the month in great detail.
- An FAQ of the month
- A market analysis for each mined crypto
- A set of announcements and explanations (like the location of the machines, the status with Russia,…)
Reopening of investments:
Due to difficulties in the mining market with the price of machines soaring, worries about mining farms in some countries (especially China) and the rise in electricity costs, Summit Mining has preferred to stop investments since June. This is another reason for my enthusiasm for the company, which is not looking to make a profit at all costs, but is careful to ensure that the project lasts as long as possible.
Good news for those who are interested and for Summit Mining investors, the company is reopening investment for the end of March (at the latest on 20 March), although the total amount cannot exceed 6.7 million euros.
If you are interested in investing in the company, feel free to send my discord nickname : Moffice#5148 when you sign up to get giveaway.
Some topics may not have been covered or can be more detailed. Summit mining also offers new services recently still in beta, if you want to know more about these services or if you want more details, let me know in the comments.
You can also check my other article where I talk about Swapnex.io!
