Mining Cryptocurrency Becoming Wildly Popular and Accessible for the General Public - Seite 2

Users who partake in the mining opportunity will see their mined cryptocurrency be credited to their digital wallet each day. Hello Pal has kicked off the initiative itself by purchasing several Bitcoin and Ethereum mining machines to be held by the company, with plans to purchase even more.

Yitang is signed on to help Hello Pal reintroduce and revamp its digital wallet and proprietary digital currency, "Palto"— a utility token to be used across the entire Hello Pal suite of apps in order to allow for the borderless transfer of value between Hello Pal users across the world.

Part of the Hello Pal advantage of its platform is its design that allows users to make new friends in countries all over the world. Among those countries is a massive market that most major social media platforms are blocked from operating within, namely Hello Pal has permission to operate both inside and outside of China.

Based out of Vancouver, Canada, Hello Pal also shares dev offices in China with livestream giant KK Livestream, which has its + 200 million userbase. By its actions so far, Hello Pal is quickly becoming a rising social media platform star, as evidenced by its recent setting of a new revenue record in January 2021 of nearly CAD$2.8 million, and a successful fully subscribed private placement of CAD$1.6 million.

"We are pleased our company is truly global, and will continue to rollout new products, features, to reach new markets," said Hello Pal advisor, Hans Xu. "The Hello Pal platform is a truly diversified social platform"

One of the first cryptocurrency mining companies to be listed on the Nasdaq was Marathon Patent Group, Inc. (NASDAQ:MARA). Some investors have chosen the company as a proxy or substitute for actually owning BTC, because the share price of MARA tends to follow the price of Bitcoin itself, at least for the most part.

Late last year, Marathon upped its presence in the crypto mining space, by adding an additional 10,000 S-19J Pro Asic Miners from Bitmain, and announced plans for a second data center. 

"The new facility will be powered primarily by clean, renewable power, which is not only cost-effective, but will also allow us to lower our carbon footprint," said Marathon's CEO and Chairman, Merrick Okamoto. "Currently, we believe the costs to operate our second facility will be similar to the industry-leading rates we have at our Hardin facility: $0.028 per kWh for power and $0.006 per kWh for hosting operations."