Bitcoin mining company Blockware is making it easier for anyone to mine Bitcoin, and CEO Mason Jappa believes it's the best way to dollar-cost average into the asset.
Speaking with Roundtable host Rob Nelson, Jappa broke down Blockware’s model, emphasizing how users can mine Bitcoin without dealing with the complexities of running their own operations.
"Blockware enables everyone to mine Bitcoin," Jappa said. "We own and operate our own data centers. And then as well, we partner with over 10 data centers all in the United States. We created an exchange that allows you to trade your miners after they go live. So we created liquidity in the ecosystem."
Dollar-cost averaging (DCA) Bitcoin means investing a fixed amount of money at regular intervals, regardless of price fluctuations.
Blockware Solutions, LLC, founded in 2017 is a U.S.-based distributor of Bitcoin ASIC mining rigs and a provider of container solutions. It also operates a peer-to-peer marketplace for used mining equipment.
The company has sold over 400,000 cryptocurrency mining rigs since its inception. It is also the owner and operator of colocation data centers and hosting facilities, with more than 500 MW of hosting clients placed.
Making mining accessible
Jappa explained that mining is a more strategic way to accumulate Bitcoin than simply buying it outright.
"You could have one Bitcoin today or two Bitcoin tomorrow," he said. "If you invest $100,000 in mining and you have a low time preference… over a three-year period through the next halving cycle, you'll actually end up with two Bitcoin."
Blockware's marketplace allows users to purchase mining machines that are already live and hashing. "You could be mining in three clicks," Jappa said. "You just go to our marketplace, select a miner, and as soon as your payment clears, the mining revenue is pointed to you."
A better alternative to trading?
CryptoLifers host Sam Price said he was considering the approach, comparing it to using bots to trade Bitcoin.
"I'm running a bot that I'm using Bitcoin as collateral, and every time it makes $800 in USDT, I'm buying more Bitcoin," Price said. "His way is really just a hash rate, right? I'm pretty sure his mining system will create those two Bitcoin for me with a little less risk than my bot."
Price admitted that he was already thinking about investing in Blockware’s mining solution. "Why wouldn't I do that?" he said. "I know I'm going to buy one [Bitcoin] now, but my $100,000 is going to buy me two. I just have to trust this company."
Jappa noted that trust is a major factor in mining, noting that Blockware was built to eliminate counterparty risk.
"I've been in mining for almost 10 years, and I've seen it all," he said. "People make millions, lose millions. In fact, make billions, lose billions. It’s all about counterparty risk."
Blockware ensures transparency by providing detailed machine data to buyers. "You can see the historical data of the machine you bought," Jappa said. "You can see how old it is, where it’s run, its performance history, how much revenue it's made, how much profit it’s made, if it’s been down, if it’s been up. The rest is our job to keep it running."
