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With over 80% of bitcoins already mined and roughly 4m left to be unearthed it would be interesting to know how many coins the company expects to mine per year. Given that there are other miners out there and 2040 is the finite date for mining to be completed. If this has already been addressed, I apologise for missing it.
Exactly, very bitter editor and sore loser in George Osborne.
Although it is free it appears that not many people read the business section of the Evening Standard. They probably have had enough of the editor's political ramblings by page two.
"Gardin says the goal is to sell these investments at a fair price and focus solely on cryptocurrency opportunities." - have you seen the latest Bitcoin price ? Going down the toilet.
Here is the piece:
Here's our minnow for this week, Clear Leisure:
Through its subsidiary Miner One claims to be the “first company on AIM to extract bitcoins”.
Clear Leisure has done this by setting up shop in Serbia in January, pumping €350,000 into paying for data mining computers and infrastructure in the Balkan country.
The firm chose Serbia as energy is a third cheaper than in Western Europe and Bitcoin mining requires huge amounts of power and energy.
The company said it has mined fractions of a Bitcoin and is close to mining a whole one. The target is to mine 25 bitcoins quickly, although no specific timeframe has been set.
Chief executive Francesco Gardin said: “There are only 21 million Bitcoins so these assets will become very valuable. Bitcoins are unique and finite and will be a highly tradable asset.”
Gardin says it’s wrong to pigeonhole Bitcoin as a pure currency, adding that Clear Lesiure’s business model is based more on mining industry players like Glencore.
He plans to set-up a Bitcoin trading arm once the firm has mined enough of the cryptocurrency.
“Like the mining industry you either sell the metals straight away or set-up a mining trading company. We plan to build up a team that has knowledge of what is still a very early stage market.”
Clear Leisure does have downsides, as it started life as a property investment vehicle. It still has assets left over and it has been hamstrung by a string of disappointments from its Italian portfolio.
Gardin says the goal is to sell these investments at a fair price and focus solely on cryptocurrency opportunities.
Good write up on CLP today in the Evening Standard. Talks mainly about the Bitcoin part of the business and how Hardin wants to setup a Bitcoin Trading arm once the firm has mined enough of the Cryptocurrency.