A Review Of RRMine: Bringing Hashrate Power To The Masses
Seeking Alpha Analyst Since 2020
Summary
- RRMine is a relatively new company looking to change the crypto mining landscape for both beginner and professional crypto investors.
- RRMine won the "Best Reputation of Hashrate Asset Management Platform 2019" award.
- This article looks at the potential of the platform, and how the RRMine team plans to bring scalability to the masses.
Many crypto investors struggle to get into the crypto mining business for a myriad of reasons. Among them is the lack of technical knowhow to handle mining hardware, and the other is having to purchase mining hardware, which sometimes requires a substantial amount of capital.
One company, RRMine, is moving to change the dynamics in this regard by enabling both beginner and professional crypto investors with an interest in mining to do so. Its endeavor is to enable crypto mining investors to procure hashrate computing power without having to deal with cumbersome mining hardware and escalating home electric bills.
What is RRMine
RRMine is a decentralized hashrate marketplace that is powered by blockchain technology. The decentralized RRMine platform allows both buyers and sellers from around the world to coalesce under one system.
The RRMine digital asset management portfolio encompasses computational power provision for cryptocurrency mining purposes and data processing.
A History of the Platform
RRMine was started in 2017 during the famed Bitcoin boom that brought enormous attention to the nascent crypto mining industry.
Speaking during an interview with LilaMax Media earlier this week, RRMine CEO Steve Tsou, said that the vision was to bring scalable computing power to the masses. In his view, computing power is the ‘new energy’ and RRMine’s main objective is to integrate a global intelligent computing network within a trusted community-based environment through technology.
“RRMine is rapidly expanding with the help of ecological synergy, ranking as the number 1 computing power asset platform.”
The RRmine network is powered by the XnMatrix cloud computing system.
What RRMine Pledges to Offer Crypto Mining Investors
According to the company, clients who sign up to the RRMine program stand to benefit from a bevy of elaborate digital computing products. The platform utilizes a competitive seller model based on blockchain technology that allows buyers to get the fairest market prices. The transparent pricing often translates to a win-win situation for both buyers and sellers.
RRMine is also offering a Filecoin mining package. The company recently launched a series of Filecoin products based on IPFS technology.
Although the Filecoin mainnet has yet to be launched, its futures prices have already jumped by over 100 percent within the past two months. With miners actively looking for new opportunities, RRMine has already announced a tailored service for those looking to join in the Filecoin mining mania.
RRMine’s Filecoin mining service has received overwhelming response from the crypto community. The product range sold out within two minutes after launch, thereby setting a blockchain product-launch record.
As things stand, crypto enthusiasts and investors looking to jump on the Filecoin bandwagon seem to be taking advantage of the scalability of RRMine services.
Who are RRMine’s Main Users
RRMine has revealed that more than 80 percent of its clients are new to the concept of mining. The demographics that the company caters to includes successful investors that typically invest in traditional markets. By participating in the network, they stand to benefit from bitcoin miner proceeds and computational power dividends.
Because the crypto mining concept is still relatively new, RRMine has taken upon itself the task of educating its users. According to its CEO, informed clients are better decision-makers when it comes to choosing the right crypto product to invest in.
They also contribute greatly to the burgeoning crypto mining community by sharing the knowledge with their peers.
How the RRMine Network Handles Instability, as Explained by Its CEO
The crypto market, just like the stock market, experiences waves of turbulence. Crypto market prices rise and fall, sometimes sharply. This, at times, affects mining demand and supply, which is ultimately dictated by the difference between the mining costs and cryptocurrency prices.
To hedge these risks,the company says it offers consumer-to-consumer (C2C) time-based products that smoothen out the experience for investors. Going by the latest statement offered by its chief exec, “We hedge risks through different lock-in periods. Our platform is to smooth the high wave curve of BTC.”
According to his elaboration, the decentralized nature of the RRMine network also minimizes investment costs as suppliers are located in different parts of the world, with varying resources and scalability capabilities.
RRMine states that some of its biggest hashrate suppliers are based in countries where cheap energy is available. They include China and Russia. This reduces investment risks for investors, during market downturns.
It reveals that the company's leveraged buying power and backing from the Chinese government allows for the purchase of computational resources at heavily discounted rates, thereby bringing down energy and hardware costs.
According to its head, the platform is self-supporting without requiring external finance from third parties. CEO Steve Tsou recently elaborated on this aspect of the business while speaking to LilaMax Media. The following is an excerpt from his statement.
“We have not done any finance because the platform's cash flow has been positive. We are not the traditional Internet burning money model, and we have always used profits to support platform, ecosystem and public chain technology research and development.”
The company highlights that it has about 300 staff members that work to preserve the integrity of the vast network. Many of the firm’s technology and product specialists have worked in reputable corporations such as Baidu, Cisco, and Goldman Sachs, it says.
In 2019, RRMine was nominated as one of the top datacenters in the United States. It won the "Best Reputation of Hashrate Asset Management Platform 2019" award.
Announced Expansion Plans
While the company boasts more than 10 branches worldwide and 20 community nodes, most of the network’s suppliers are based in Asian countries.
That said, the firm has already announced plans to expand into other regions of the world in the next couple of years.
It is also looking to expand its product offerings to include AI computing power in the next quarter. Optimization of current services is also set to take place.
It will be interesting to see how the company morphs as the crypto industry matures.
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