I have mentioned this a few times on the air but my good friend and partner in several ventures Ben Fitts will soon be opening a new business to provide mining services for crypto currency, this service will be called Crypto Gulch.
This new service has had a lot of interest since I first announced it less than a month ago here. If you want the details as to how this service will work, please click and read the announcement at that link, as I don’t want to fully rehash it all here. I did want to give you an update though.
Here is where we are, Ben is currently securing a facility to house all the equipment in, that has been selected and he is already getting set up. Most of the account management back end is done so you can see what your mining, manage your accounts, etc.
I am working with Ben right now on the pricing models, we are going over some options, it is important that a venture like this get the pricing right out of the gate as to be profitable enough to be worth the effort. We are now leaning to (not yet decided, no final decision has been made) that customers will buy not just the GPUs but the box that houses them and the rack equipment that cools them.
If Ben decides to do this advantages are many….
- It is all yours, everything, not just the cards, so if you ever take delivery you can plug and play mine.
- The cost of adding GPUs (per rig) will go down, so growing is easier cost wise.
- As the GPU cost drops, when you want to upgrade and sell your old cards that gets cheaper.
- If you are going above board tax wise you can depreciate more equipment costs.
- This puts Ben and his team 100% into management mode, all equipment is customer owned, (true collocation)
I and a few other have been Ben’s guinea pigs for about a month now as well. I purchased 4 GPUs and Ben has been managing them for me mining Zcash and I have been pleased with the results.
I think I am going to organize a call soon for people to hear more about this in a private setting, be able to ask questions, etc. I want info about that call or just to be notified when Crypto Gulch is open please fill out the form below. Ben’s initial plan is to sell only 50% of the capacity in his facility to get everything running tip top before growing past that. I firmly endorse this idea.
If for any reason the form does not display in your browser just use this link for another version of the form https://forms.aweber.com/form/77/43146977.htm
So What Is My Role – Motivation – Stake in This Enterprise?
Guys and gals you know I am always above board with you, I may make a mistake or two but I own up to them and I always disclose everything. To be blunt my role is this is basically I am an affiliate, I earn a whopping 5% on business I refer to Ben and my plan is a 100% reinvestment of that into the Gulch. Meaning all my commissions go to buy me more mining rigs.
I am also an unofficial adviser to Ben, with zero authority. Ben and I go WAY back, I mean WAY BACK. The first time we met face to face was 2002 in Boston when I was regional sales VP for Fluke Networks. By that time we had already worked together online in various ventures for years. I had paid Ben to write code for me and do development for me, etc.
The truth is Ben is one of my few career long partners in business who I have worked on and off with for more than two decades, the advice I am providing here to him, is the same advice I would give him for free if I wasn’t personally involved at all.
Why? He has always done the same for me, that is why. He built the MSB and recently upgraded it. He advised me on many technical issues over the years, Ben is part of my personal and very tight network. I’ve spent my own money here, in fact I just bought two more GPUs from him today in addition to the original four. I hope that speaks volumes for my decision to back this venture and be part of it as an adviser to Ben and his team.
Tune in to TSP today for a segment that expands on why I am so excited about this.