It is undeniable that Bitcoin is a trendsetter, one that ushered in a wave of virtual currencies built on a ...Read more
It is undeniable that Bitcoin is a trendsetter, one that ushered in a wave of virtual currencies built on a decentralized peer-to-peer network. Above anything else, it has grown to become the de facto standard, with the hundreds of spinoffs that followed its wake considered alternatives. Over a decade after it first exploded into the scene, its prominence remains—along with its volatility. A few days after notching its latest all-time high of the year this month, when it traded above $68,000 for the first time, it dropped back down below $56,000. This fluctuation in price, which is nothing new, is one of the reasons behind the ever-increasing number of individuals and companies that have shifted their attention towards mining Bitcoin. Among today’s longest-standing large-scale crypto miners is MiningStore, the brainchild of Bitcoin mining pioneer JP Baric.
In trading Bitcoin, not only is it challenging to calculate one’s potential profit, but it also takes a particular set of money management skills and degree of emotional control so as not to lose your investment entirely. Given the risks, interest in mining, the expertise of MiningStore, has picked up. Founded in 2016, this US-based company is reducing friction in the Bitcoin mining space by making it easier for others to purchase crypto miners and operate them at low-cost stranded renewable energy across the United States. At its helm is a go-getter who has served as a key player in the crypto mining space for almost five years now.
Deeply passionate about hard assets and driven by the goal to put computers to work for people’s benefit, JP Baric plays an integral role as MiningStore’s CEO. An avid Bitcoin enthusiast, he rose to the forefront of the blockchain industry, thanks to this innovative approach to mining through the use of stranded energy and mobile mining containers. In the years since he first dipped his toes in the digital asset space, he has overseen some of the largest mining operations in the country and is extremely involved with the development of the mining sector.
With all the acclaim that MiningStore has received, it doesn’t mean that propelling the venture to great heights didn’t come at an expense. “There was a time back in 2019 where I had to fire all of my employees who were mostly my friends and slowly rebuild the company from scratch. We had to pivot from selling custom-made mining rigs to a hosting business where cashflow was consistent,” recalled JP Baric. “Without recurring capital, we had some really good months and some months where little to no sales were made. During this time, I learned what it means to truly manage a team and the importance of understanding and controlling costs.”
Under the leadership of JP Baric, MiningStore continues to make strategic moves in the industry while running and operating multiple facilities. Currently, it boasts two standout products, the first of which is Managed Mining Program , a white-glove solution where clients receive power at a direct cost as well as shares in a profit split arrangement. Bitvault, its other bestseller, is an offering for smaller investors who are looking to invest as low as $1,000 into a mining operation.
In the years to come, more can be expected from MiningStore. Spearheaded by a CEO who bears an in-depth understanding of the field, it is set to keep its position at the top.
Learn more about JP Baric and MiningStore by visiting their website.