brady on Nostr: I more detail in reply to Derek ...

I more detail in reply to Derek

quoting note1n7h…90c9

Hey Derek - I agree with you that cloud mining is not good. Swan Managed Mining is not cloud mining. This is a bespoke service to manage operations at scale for large institutions (several MWs per investor). These investors get a clear view from ASIC acquisition all the way to hashing. Transparency on everything. They see pools, wallets and can track in real time the operations. Also, by definition, their risk on individual machines is massively pulverized.

Swan gets a management fee for the services. We announced a deal with Tether and we’re managing a lot of their hashrate. Large capital allocators don’t necessarily want to pool their capital with pre-existing mining operations, nor are they able or interested in acquiring all the skills, talent, experience, and time to learn how to stand up their own mining operation. This is where Swan Managed Mining comes in.

Really sorry to hear about your experience with retail cloud mining, we’re very aware of those operations, and SMM is not that.

More here: https://www.swanbitcoin.com/swan-announces-managed-bitcoin-mining-service/