(Updated October 18, 2017 at 4:25 p.m. Central time U.S. — New video added with Lee Oakey, a leading USI Tech distributor, describing what is expected at the October 28 London event referenced within the story.)
USI Tech will reveal a $70-million investment in hardware which will be used to create what the company refers to as a “transparent” Euthereum mining pool.
USI Tech, which has experienced stunning growth of more than 250,000 customers for its “BTC Package” Bitcoin investment product in the past year, said in a news release today that the announcement and others will occur at its upcoming company event in London on Oct. 28.
According to Ethereum.org:
Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference.
“These apps run on a custom built blockchain, an enormously powerful shared global infrastructure that can move value around and represent the ownership of property. This enables developers to create markets, store registries of debts or promises, move funds in accordance with instructions given long in the past (like a will or a futures contract) and many other things that have not been invented yet, all without a middle man or counterparty risk.
“The project was bootstrapped via an ether pre-sale during August 2014 by fans all around the world. It is developed by the Ethereum Foundation, a Swiss nonprofit, with contributions from great minds across the globe.”
Ethereum’s price has increased from around $10 in February 2017 to more than $300 in October. It has a market cap (the total value of all available coins) of $29.3 billion USD. Bitcoin’s market cap, at 6:15 p.m. Central time on October 17, 2017, was $92.7 billion by comparison.
USI Tech does not currently have an Ethereum-based product, and today’s news release did not state whether or not that will change. Company leaders have said in the past that part of their strategy for returning approximately 1 percent on Bitcoin investments on a daily basis includes mining for the least-expensive cryptocurrencies to mine and then moving those coins into Bitcoin.
The news release said the USI Tech branded Ethereum pool “will show openly on the blockchain the track record of mining and amount of Ethereum USI Tech mines on a daily basis.”
USI Tech’s news release said the $70-million hardware contract is with a company with which USI Tech has a non-disclosure agreement, and therefore cannot name at this time.
Note: The Bitcoin Coaches are business partners of USI Tech. If you are interested in more information or signing up for free to learn more about the company, click here. One advantage of signing up for USI Tech through the Bitcoin Coaches is coaching from the authors of an Amazon best-seller about Bitcoin, “Bitcoin Decoded.”