Optimism For Future Growth of Blockchain Continues Despite Crytocurrency's Tumultuous Market

PALM BEACH, Florida, September 6, 2018 /PRNewswire/ --

MarketNewsUpdates.com News Commentary 

Cryptocurrency miners lately have been taking proactive measures to drastically reduce the costs of cryptocurrency mining, as hashrates reach historic highs and prices struggle to move beyond market resistance. Bitcoin's price was above $8,000 at the end of July. By the middle of August, the cryptocurrency was down to around $6,500. With the slump in prices and the extraordinary energy consumption it takes to mine the coins, Fortune revealed that mining a Bitcoin cost as much as buying one. While crypto markets have yet to attain wider adoption, its underlying blockchain technology continues to attain more traction as companies, large or small, public and private alike, are continually able to see it as a viable application for a variety of uses in a multitude of sectors. As such, optimism is riding high on blockchain technology becoming more and more prevalent. Active companies today include: Block One Capital Inc. (TSX-V:BLOK) (OTC:BKPPF), Riot Blockchain Inc. (NASDAQ:RIOT), Seven Stars Cloud Group Inc. (NASDAQ:SSC), HIVE Blockchain Technologies Ltd. (TSX-V:HIVE) (OTC:HVBTF), Global Blockchain Technologies Corp. (CSE:BLOC) (OTC:BLKCF).

Block One Capital Inc. (TSXV:BLOK.V) (OTCQB:BKPPF) BREAKING NEWS: Block One Capital, an investment company focused on high growth opportunities in the blockchain sector, is pleased to announce that its Chief Technology Officer, Dr. Pratheev Sreetharan (PhD Harvard University), and Director of Research, Dr. Sivakumar Arumugam (PhD Columbia University), have published a revealing analysis of the bitcoin mining sector utilizing publicly available global hash rate information.

Their research paper highlights the following realities of Bitcoin mining (The research paper can be found on Block One Capital's website at http://www.blockonecap.com):

1)    As more and more new Bitcoin miners come on line, the rapid rise in global hash rate rates is leading to a rapid fall in the number of expected Bitcoins to mined by mining hardware.

2)    Profitability of mining machines is falling quickly over time.

3)    At an exchange rate of $10,000 per Bitcoin, a miner operating with an average cost structure will be unable to achieve profitably within a few months.

4)    Mining hardware is most profitable in its first days of operations.

5)    Delays in the deployment of mining equipment has a huge impact on revenue generation.