If Summit Mining has been touched on in our columns before, it’s because the company’s community investment approach to mining Bitcoin (and a few other crypto currencies) is unique in the ecosystem. Indeed, what Summit Mining offers is nothing less than the synthesis between rigor and the structure involved in a company with gable on the street, and all the flexibility of a community and collective approach. An approach where everyone will feel more “member” than “client” and thanks to which investing in Bitcoin and crypto mining becomes a collective work of which each reap the benefits equally, in full transparency.
Like any model, however, this approach is not free from flaws, and in particular that of setting up a minimum investment threshold that not everyone can afford, but also … not always being able to welcome new customers!
Indeed, due to the rise in the price of crypto and other parameters that we will see in the background, Summit Mining plans to close its subscriptions indefinitely, in order to preserve maximum profitability for the benefit of its existing community. In a few days, this concludes what could be the last wave of registrations and purchases of mining machines.
Find out in this article if the offer matches your investor profile and temperament and – in the affirmative – how can you take advantage of one last opportunity to join the club!
Warning 1: this article is not sponsored, it is not an infomercial. On the other hand, the use of the code COINTRIBUNE – which will give you access to a welcome offer – is associated with a small affiliation. Nothing, however, sufficient to bias the subject matter.
Warning 2: by its very nature, deliberately “premium” and semi-closed, the offer presented in this article implies a minimum investment of 2000 euros. This entry ticket is the counterpart of a high-level, personalized service.
Investing in Bitcoin (BTC) mining according to Summit Mining
We have already had the opportunity to discuss in detail the investment proposal of Summit Mining.
If this proposal were to be summarized in a few quick points, it could be presented as an approach to Bitcoin and community cryptocurrency mining within the framework of which the company Summit Mining manages and administers several parks of mining machines around the world on behalf of its customers, the latter benefiting in return from the fruits of this mining in proportion to their investment in the common pot.
This is so, besides Bitcoin, 4 cryptocurrencies which are currently mined, selected for the profitability of their mining (a given that is not necessarily in resonance with their current prices, many parameters coming into account in the equation, from the cost of energy to the availability of machines as we will see in more detail below).
Right now it is so 9,526 machines who work tirelessly for the benefit of the Summit Mining community. And the results match the energy expended with a profit redistributed to customers in the total amount of 1.236 million euros in less than 3 years.
The Mining Park Token (MPT), the keystone of your investment in Bitcoin mining
Concretely, this investment (which can be made in different cryptocurrencies, as well as by bank transfer) will materialize by the allocation of a number of MPT (Mining Park Tokens), according to a ratio 1 € invested = 1 MPT.
In a very concrete way, your investment will then be quickly mobilized for thepurchase of new machines which will add to the existing stock. Once these machines are plugged in, you will begin to claim your share of the global mining.
In order to make significant economies of scale, the purchase of mining machines is done in a grouped manner, around the 15th of each month. For this reason, and in order to be able to quickly start receiving the first mining products, it is essential to position yourself before this date by contacting the team.
Info: It is likely that your capital is only invested in a given type of machine that is considered strategic at the time of the monthly purchase (for example, mining machines of Litecoin). However, it should be noted that you will benefit from part of the production of all the machines in the fleet.
From the initial investment, it will also be necessary to subtract operating margin from Summit Mining, the very one that keeps the infrastructure running.
Note that your investment will be recorded by the‘Issuance of a Certificate of detention of MPT. You should see these MPTs as embodying your level of participation in the Summit Mining investment community.
To make it perfectly intelligible and to illustrate the point, owning 1% of all MPT would make you eligible for 1% of all profit.
It will be recalled that these benefits are calculated monthly and paid on the 5th of the month into subscribers’ portfolios. In this regard, it will be recalled that Summit Mining has spared no effort to offer as many options as possible to its community! You will be able to:
- Request the payment of the fruit of your mining in each of the 5 crypto currencies currently mined (Bitcoin, Ethereum ZCash, Litecoin and Dash), directly to your personal crypto wallets,
- Benefit froma single payment in BTC,
- Or take advantage of a automatic MPT reinvestment scheme, an interesting option once you have grasped the full power of what is called compound interest strategy.
- Besides it is whispered that other even more advanced options will be available in the next few weeks!
Note that in this matter, everything will be as often question of personal strategy.
Don’t you have a personal strategy yet? This article which will teach you the basics of diversification and building passive income is for you.
The Summit Mining Magic Formula
One of the characteristics of this common work is its vitality and his dynamism. On the one hand, Summit Mining as a managing entity does not just put X machines in a Y location to wait passively that things are going for the best (spoiler: in real life, it doesn’t work). On the contrary, the small team of SM, does not spare its efforts to arbitrate daily, there the installation of 50 ASICS miners on a new promising site, here the tight negotiation with a devious supplier to tear off machines not found elsewhere, there again, the resale at the best price of equipment considered less efficient, or the analysis of ‘a new project …
Indeed, if Summit Mining is based on a perfectly basic concept (pooling funds to buy as many mining machines as possible in order to have a large negotiating strike force and operating savings), this is in the way of operationalize this simple idea that all the talent of the team is housed.
Because if anyone can buy 10 or 100 miners of any cryptocurrency, deposit them in a mining farm, and then cross their fingers very hard so that the equipment does not break, that the prices are maintained, that the price energy does not explode … Summit Mining injects high-level tactical intelligence and arbitrage into the process.
A solid former trader, surrounded by a team of industry professionals, Matt the hyperactive CEO (and creator) of Summit Mining, referee thus daily on the composition of its fleet of machines, buying rare equipment from operators around the world, making capital gains on the resale of certain units, or buying equipment at low prices when the opportunity arises …
The success of Summit Mining thus ultimately rests less on the fact that crypto mining would by nature necessarily be profitable and successful that on the asset management qualities that its team deploys in its day-to-day management!
On the community side, this energy comes in other forms: detailed monthly reports, availability by chat and phone, but also weekly video points by Matt which gives everyone the opportunity to ask all possible questions and come up with ideas for the future.
The person concerned is also rarely available, especially on the dedicated Summit Mining Discord which has a public space where you can go ask all possible questions, and inform yourself, even if you are not yet a member. official.
The opportunity, moreover, to directly solicit the members of the most profitable Bitcoin investment club in France, as the return of real users of the service is worth 1000 times all the most sophisticated marketing there is.
In 2020, the community has grown, allowing more and more people to enjoy comfortable returns month after month as prices rise – that’s easy – but also and above all when the markets slip, or even collapse, which is infinitely more precious! As such, it should be noted that even in the midst of the crypto market crash last March, Summit Mining continued to earn money for its members (monthly profitability of 1.47% for March 2020, all results are freely accessible, month by month on the Instagram of Summit Mining).
Now that you have a better grasp of this precision mechanic, it’s time to move on to the bad news…
Indeed, precisely because Summit Mining’s unprecedented and profitable approach has placed the protection of the interests of its community at the center of the equation, the company could be under obligation soon … to close new business!
The Bitcoin Mining Company That Refuses Its Customers’ Money
The finding is deeply counter-intuitive: while business is going well, and crypto prices seem to be experiencing the beginnings of a new bullrun, Summit Mining could very soon choose to close its doors to all new customers.
Let’s get it right: not any classic business would have the kind of conscience case described below. Business as usual, whatever the circumstances, the only imperative should be to “bring in” new clients, without worrying about old ones… after all, they are already hired, right? Worse, while many players in the crypto sector are readily accused of being on the verge of scam, or even face recurring accusations of Ponzi, how to imagine a company which takes the party to refuse any new entry of “fresh money”?
Yet this is very precisely the approach of Matt and his team who, between multiplying new entrants with limitless and unhindered growth as their only horizon, makes the strategic choice to preserve the interests of its long-standing community. Explanation.
Mining and crypto prices, a counter-intuitive equation
As we have seen, a new subscriber at Summit Mining will invest an amount X at the beginning of the month, which will be used in the following days to buy new mining machines. It was also emphasized, the entrance ticket to enter the club is 2000 euros, earning as many Mining Park Tokens, themselves associated with a right to the benefits of community mining.
Before continuing, it is worth recalling a simple parameter which conditions the market for mining machines, whether new or used: fluctuation. The same kind of fluctuation that drives the market for an asset, whether crypto or traditional for that matter.
In other words, the prices of mining machines fluctuate, sometimes in very large proportions, logically impacting their profitability.
Things are a little more complicated, but let’s say that if the price of a cryptocurrency explodes, its mining becomes more profitable and that, by the magic of the principle of supply and demand, the price of its mining equipment follows the same trend (and as it is well done, it also works the other way around, a crypto that crumbles, and thousands of machines will be disconnected and offered for resale in specialized networks).
“In 2019 bitcoin machines sold new for $ 300 were selling second-hand almost quadruple 6 months later, due to the sharp rise in BTC” [dans cet exemple, il est question des tarifs auxquels ont accès les professionnels du minage, en capacité d’acheter 50 ou 100 unités en une fois].
Matt, CEO of Summit Mining
By this point, you get it: right now mining equipment is following the overall upward movement of the crypto market and miners are getting more expensive with each passing week (and for some crypto currencies, even become totally untraceable !).
Thus, by extension, if the 2000 euros of a subscriber made it possible 3 months ago to finance 3 minors, the same sum today will perhaps only allow the acquisition of a single copy … However, the number of Mining Park Tokens obtained will always amount to 2000.
If this mechanic is a real boon for a new registrant, the situation is a little more uncomfortable for the “old people”. Of course, Summit Mining deploys compensation strategies (in particular by reselling certain older machines, at a higher price than the purchase, following the same principle), but the fact remains that the equation is complex.
Matt sums it up this way and explains why he decided to go with security for his community:
“We can’t know exactly what the price of BTC will do in the coming months, so we can’t know what the price of machines will do either. What is certain is that the rise may allow old machines that have been unprofitable for months (Antminer S9s typically) to suddenly become profitable again.
However, for Summit Mining, as we share all the machines we buy with all investors, an increase in the price of machines would pose a significant risk to the entire community.
The advantage of pooling with Summit Mining comes from the fact that the average computing power per person gradually increases over time. But with the hike looming, it is not excluded to think that the price of some machines could become 3 or 4 times higher than the current price in the weeks or months to come. Therefore, for the same amount invested, we could buy 3 or 4 times less machines. If the price holds, this is not so much of a problem because profitability will be there, but if the price of bitcoin were to fall, then we would end up with less machines purchased, less BTC generated and therefore a much poorer yield. It would also decrease the average computing power per customer. because the average number of machines would also be lower. And we want to avoid this at all costs so as not to penalize existing customers. “
Matt CEO of Summit Mining
Last call before boarding
You probably now understand a little better the unusual mechanisms that can push a successful company to voluntarily limit its organic growth.
For the days, weeks and months to come, the price of crypto (and therefore that of mining machines) will therefore determine the policy for accepting new members into their service.
Rest assured, whatever decisions the management of Summit Mining takes, if subscriptions were to close, they would resume in any case once the horizon became more clear again.
And if in the meantime you want to be one of the last members of the Bitcoin Investors Club before the doors close, know that you still have a few days to come forward to Matt and his team. By indicating that you are coming from Cryptocurrencies – besides a warm welcome – you will receive a welcome offer in the form of a 33% reduction in management fees for 3 months.