27.07.2018 – 11:34
Switzerland's largest Crypto Mining Investment Firm wins International Award
One of the world's most innovative Bitcoin companies is based in Switzerland. The Swiss startup Unity Investment, based in Altendorf SZ, received the award for the best project in the field "Initial Coin Offering". Unity Investment AG is building a huge computer centre in Jona SG with thousands of mining units that will be used to mine Bitcoins and other digital currencies. The computers shall be powered using renewable energy sources.
"We have shown with our innovative project that Switzerland is an ideal location for Crypto companies," Sean Prescott, CEO of Unity Investment, says in response to the award, after accepting it on Thursday July 19 in Warsaw. This is the first time that a Swiss company has received an award at the annual summit of leading global crypto currency companies.
Switzerland as ideal location for Crypto companies
In Prescott's view, Switzerland offers several advantages that are key to his company's decision to base itself there. "Switzerland provides extremely high regulatory security as a finance and crypto nation, along come the benefits of a stable technical infrastructure and power grid," Prescott said. "In addition, we benefit from extremely low taxes and power costs - we are essentially cheaper than China or Canada in producing crypto currencies," according to Prescott. The project has met with particular interest, because it is based on a new investment model.
Initial Coin Offering as new investment vehicle
Private and institutional investors will be able to invest more easily in projects and companies using crypto currencies with this so-called Initial Coin Offering. In October 2018, Unity Investment will launch its own ICO - the capital raised will serve to extend the company's mining operations centre. The profits generated will automatically be credited to the crypto wallets of the investors every week.
Bitcoin holders are able to transfer electronic cash to other Bitcoin wallet holders, just as with bank transfers. These transactions though must be recorded in the decentralised Bitcoin ledger (blockchain). In the ledger, controlled by Bitcoin mining machines around the world, all new Bitcoins and the relevant transaction fees are credited to every miner who validates, verifies and submits an outstanding transaction in the blockchain the quickest. In essence, Unity Investment produces new Bitcoins and other profitable crypto currencies in this way. A Bitcoin is currently valued at around 8,150 Swiss francs or 8,210 dollars (July 26, 2018).
High returns for savers and major investors
Unity Investment AG will allow both small-time and major investors investing in the company to participate in the income generated from the mining rewards. Prescott and his team believes that crypto mining will remain extremely profitable for Unity as it has in the past. Unity has and automatically manages a diversified portfolio of computational power that mines the most profitable crypto currency at any time, while always keeping an eye on the volatility, market pricing and other key market metrics. This means that Unity Investment is also profitable for small investors wanting to participate in the mining revolution, despite perhaps limited financial means or technical expertise.
High-performance computing centres using renewable energy sources.
Unity Investment is investing massively in a huge computing centre, aiming for the greenest solution possible, in order to generate high returns on renewable energy for investors. A gigantic high-performance computing centre with thousands of units will be created in a hall in Jona SG by December 2018. A single high-performance mining computer can carry out several billion cryptographic verification attempts per second - millions of times faster than a standard laptop.