Solidus Technologies entered the digital mining arena in 2018 and last year was reported to be going from strength to strength despite what was regarded as a crypto winter. Solidus Technologies registered assets of £2.4m are everly increasing due to 2 temporary facilities where they are mining Ethereum around the clock 7 days a week. On inception they entered in to a joint venture with Soft Galaxy, who are leading experts in Artificial Intelligence and Blockchain Technology.

The idea was to build an 8000SqFT state of the art data centre that can hold up to 24,000 GPU’s which are basically super computers that validate transaction on the Ethereum network, and in turn are rewarded payment in Ethereum by the network. The Ethereum network was quoted by Steve Wosniack who was the co-founder of apple as saying that Ethereum could be the decentralised Apple of the future”

Since the last report Solidus Technologies have now completed the shell of the 8000SqFt build and currently raising funds to finish the build along with filling the Data Centre with 12,000 GPU’s. Scott Cannon director of Solidus Technologies has said ” I’m extremely pleased to have finally finished the shell of the centre after an initial hold up on construction due to the winter season in Bucharest. After speaking to Adrian we are confident of completing the build before the summer meaning we can then focus all our attention on filling the Data Centre with the hardware needed to fulfil our targets”.

The CEO of Soft Galaxy Adrian Stoica, a renowned expert in the field of Artificial Intelligence and Blockchain technology has said ” With the software we have installed onto the GPU miners it has provided us and our investors with added security due to market movements as our equipment operates at least 20% more efficiently then industry standards, this means that we are still making profit where others are not. This is very important for Solidus as the price of Ethereum is low and we are still making money there are reports that the price could reach $800 per coin at the back end of 2020, we are optimistic about this but at $180 per ETH we still make profit and I am confident we will see an increase to $500 or $600 this year”

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The market has been buoyant this year with the price of Ethereum (ETH) rising over 100% from January. Source: coinmarketcap.com 01.01.2020 to 24.02.2020

There have been some major announcements this year, one of which came from credit card giant Visa. Visa have granted Coinbase their principle membership which allows Coinbase to directly issue debit cards where users can purchase goods and services via their cryptocurrency holdings. Source: https://www.forbes.com

Another major announcement is that HSBC stated they intend to cut over 35,000 jobs and are making way for online digital currency transfers.  After extensive investment they are planning to move £15bn of their own assets into a crypto digital vault. Source: https://www.forbes.com

SOURCE Solidus Technologies

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