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BlueWheel Gulf secures 5 MW bitcoin mining contract from private investors in Dubai
BlueWheel Gulf, a Dubai-based Bitcoin mining company has signed an additional 5 MW Bitcoin mining contract from a group of private investors in Dubai. It marks a significant milestone for the company, which has been mining Bitcoin sustainably around CIS countries.
Sustainable and expanding Bitcoin mining operations
The company has been actively mining Bitcoin since 2020, focusing on sustainable electricity sources, mostly hydropower. With the addition of the 5 MW contract, the company's total mining operations have reached 6.5 MW with 2000 Asic Pods.
Bluewheel mining NFT project: Solving the transparency and auditing issue with cloud mining
Bluewheel Gulf has recently partnered with DeFi nation studios, a Singapore-based Blockchain studio, for the Bitcoin Mining NFT project under Bluewheel Mining. Bluewheel Mining founder Agarwal says: "We are very excited about this project and are in process of forming separate SPV in BVI for this project. This project would enable the adoption of Bitcoin to the masses and generate a source of sustainable revenue. We promise a genuine sustainable economic model where the NFT holder gets Bitcoin rewards as his share of the reward from the Bitcoin block by just holding NFT. We would use third-party software to make production transparent & auditable. We want to bring Bitcoin Mining into DEFI which is missing currently.” Currently, companies like Luxor, Binance and Antpool are offering third-party mining software services.
The project aims to simplify Bitcoin mining for small investors and offer a transparent and auditable mining operation. By holding the Bluewheel Mining NFT, investors will be able to receive their daily share of Bitcoin mining revenue.
Cloud mining has been a popular option for small investors to participate in Bitcoin mining. However, the lack of transparency and auditing in cloud mining has been a major issue. With Bluewheel mining's NFT project, investors can directly participate in a transparent and auditable Bitcoin mining operation. Thus, investors will be able to track their investments and have confidence in the legitimacy of the mining operation.
By expanding its operations and launching its innovative NFT project, Bluewheel Gulf is positioning itself as a leading sustainable Bitcoin mining company in the region. Their efforts to address the transparency and auditing issue with cloud mining will attract small investors looking for a trustworthy and reliable way to invest in Bitcoin mining. In a world where sustainability and transparency are becoming increasingly important, Bluewheel Gulf's focus on sustainable energy sources and transparent mining operations is commendable. It will likely set a new standard for Bitcoin mining companies.
Saurabh Singla is a co-founder at ZEX Media.
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