The cryptocurrency industry is expected to grow long into the future. Anyone can see evidence of this in the value of all cryptocurrencies in circulation, which has already passed $1 trillion as of the beginning of 2021, with no signs of slowing down. Although the market itself has faced some downturns, even its lowest lows show growth from the prices in previous years. Industry analysts suggest that this, in part, is due to the technology itself being positioned to transform the entire financial industry, an endeavor that won't disappear overnight.
For investors, the difficulty with investing in this high-potential market is overlooking opportunities. While investors quickly look to diversify their portfolios to include cryptocurrencies, they often overlook the infrastructure that supports it - with crypto mining companies being a crucial part. In many ways, diversifying an investment portfolio to include these companies offers a partial solution to the volatility that is common when investing in digital assets alone and provides more opportunities for new investors to gain exposure to the market.
One platform allowing users to dip their toes into the cryptocurrency pool is BlueSky Digital Assets (BSDA) BTCWF-OTCMARKETS BTC-CSE. BSDA is a publicly traded company operating with a cryptocurrency focus. The team is building a high-value digital currency enterprise that mines Bitcoin (BTC) and Ethereum (ETH) and develops value-added technology services for the crypto market. As a result, the team shares, "We're not embarking on a single play, but an applied business approach of diversification to a predominantly technology-led space."
To date, the team has reported initial success breaking corporate records of 1,044,000 CDN mined in Q3, along with announcements of capacity increases in their facilities, a commitment to environmentally-minded digital mining and the release of common shares to the CSE Composite Index.
It comes down to positioning
As the blockchain continues to expand in use and increase in adoption, the team increases their investments towards developing digital-mining IP and other supporting applications -- endeavors only possible with strategic direction based on four major differentiators. Among them are their long-standing relationships, R&D efforts, sustainable initiatives, and large reserves.
Looking at these features in more detail, the BSDA team maintains several long-standing relationships with their key suppliers. In part, this has given the company such a unique advantage to execute its strategy intelligently. They have also made several material mining equipment acquisitions, which are already in full production and proving the greater mining efficiencies. As of October 2021, the company reported 12,667.04 CDN of mining revenue per day, increasing from 2.2K in July 2020.
Furthermore, the team has also focused on their R&D efforts which are targeted to create additional revenue streams separate from the business' core mining revenues. The added diversification is believed internally to contribute to the company's valuation, over and above what it was as a growing mining business alone. For these reasons, investors are suggested to consider this an opportune time to consider BSDA as an investment with major growth potential.
While traditionally mining has gained a reputation for not being environmentally friendly, the team has committed to only using renewable energy. Currently, this includes 100% hydroelectric power, a method that is abundant in supply and leverages existing infrastructure that has been used for several years. Pollution is eliminated with this method since although heat is created, it is later used by related businesses in the team's primary mining facility.
In addition to mining and selling, the team holds a good chunk of cryptocurrency in their reserves (valued at $2.4 mm as of October 2021). As strategic investors themselves, the team shares they strive to sell only at reasonable times, focusing on delivering value back to our shareholders and investors.
More than digital mining
BSDA is said to be much more than a digital mining company. They are a company that recognizes the major changes that blockchain is leading in the way users transact as a global audience. Their development of blockchain-focused initiatives will help support further businesses that plan to understand and leverage all of the technology's opportunities.
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