January 2024 marks 15 years since the first block was mined on the Bitcoin network, the reward for which amounted to a currently unthinkable 50 BTC. The cryptocurrency community in general and the mining market in particular have undergone many changes over the years. However, the characteristic of interest in mining, expressed in network power, is inexorably growing upwards. Another peak came in December 2023. Then the network capacity of the first cryptocurrency crossed the mark of 540 EH/s. Despite the pronounced interest in mining digital assets, entering the business is still not easy – from buying and customizing to installing equipment and maintaining its performance. It is this problem that Glorious Data Systems is solving by providing access to mining for its customers around the world.
History of Glorious Data Systems
The company started its journey in IT more than 20 years ago. In the early noughties, Glorious Data Systems built its own network that provided internet access with a reach of about 1 million households. In 2016, the company made a deal to sell the Smile provider to Virgin Connect, a brand owned by Richard Branson.
Glorious Data Systems started venturing into the cryptocurrency mining sphere more than three years ago, purchasing its first batch of equipment and going through various market cycles. Since then, the company has managed to grow its fund-managed hashright by more than 20 times, as well as build a network of its own data centers to house the equipment.
Turnkey mining
The new service from Glorious DS is an investment contract in which an investor purchases a package entitling him to a percentage of revenue from mining. The payout corresponds to the client’s share of the company’s equipment used for cryptocurrency mining. Instead of purchasing the hardware outright, the investor enters into a contract that provides him or her with a certain portion of the mining revenue based on the size of the investment.
This allows investors to earn by avoiding the hassle of sourcing, acquiring, placing and maintaining asics on their own, and provides stability in data centers.
The Glorious DS platform currently offers investment packages with flexible rates. Users are able to choose from various options that have a laddered pricing system. For example, the cost of the basic tariff is $10k. If you buy 10 packages, the price is lower – $95k, and for 100 packages – $900k.
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Glorious DS provides control and transparency at all stages, starting with the purchase and installation of mining equipment and ending with its maintenance. The company provides monthly reports for investors, as well as the opportunity to personally visit data centers equipped with video surveillance systems, ensuring reliability and trust of clients.
Glorious DS in figures
By the time of the public launch of the project in January 2024, the company already has in its arsenal more than 3.5 thousand ASIC-miners, which translates into a cumulative capacity of 0.328 EH/s in the Bitcoin network, as well as more than 1.8 thousand video cards.
Glorious DS equipment is located in its own data centers and on partner platforms in Krasnoyarsk and Moscow region. The total capacity of the equipment is 12.5 mW. The company is expanding the geography of its data centers and plans to open sites in Dubai, USA and Africa in 2024.
In its report, Glorious Data Systems showed a return of 87% per annum based on last year’s data. The company is a professional participant in the industrial mining market in Russia. Glorious DS demonstrates the highest standards of sustainability with an uptime of over 98%.
The company’s clients have additional advantages over “retail” miners – the cost of electricity for Glorious DS is on average 15% lower than for individuals, and the price of equipment is up to 20% lower due to direct wholesale supplies from manufacturers.
Mining in 2024
The ideal time to launch mining was 15 years ago. The second successful entry point is today. Analysts and market experts have repeatedly noted that 2024 will be full of events in the cryptocurrency and mining market. In particular, halving is expected in the second half of April, which, in addition to reducing the reward per block, historically precedes the rise in bitcoin’s value.
In addition, the recently approved bitcoin-ETFs should allow conservative players to invest in Bitcoin by purchasing shares of the funds without having to purchase the cryptocurrency itself. Open interest in bitcoin futures has crossed the $18 billion mark, demonstrating the positive outlook of the community.
The year 2024 presents many new opportunities for cryptocurrency and mining market participants. With a rapidly changing market and expected events, Glorious DS helps investors maximize returns from mining digital coins. The expected events noted above, such as halving and approval of the bitcoin-ETF, should have a positive impact on the market dynamics in general and the rate of the first cryptocurrency in particular. Glorious DS offers to make money from mining, avoiding the hassle of buying, installing and maintaining equipment.
Who can benefit from Glorious DS turnkey mining?
The investment packages are designed for investors who want to capitalize on bitcoin mining without the hassle of buying, clearing, placing and maintaining equipment. The product provides a solution to diversify cryptocurrency investors’ portfolios by expanding the lineup of assets available for mining.
The public launch of Glorious DS turnkey mining is the next stage of the company’s development. The product opens access to the benefits of industrial mining not only to a narrow circle of partners, but to all investors.
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Author: Saifedean Ammous, an expert in cryptocurrency economics.
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