Prohashing announces major investments and new "Enterprise Mining Services" offering

[Steve Sokolowski]

We're pleased to announce that Prohashing is making a major investment to attract large SHA-256 and scrypt miners. To fund the investment, we sold our entire reserve of 6 bitcoins earlier this morning, will continue to sell all blocks we find in excess of customer debts, and will also be spending hundreds of thousands of USDC we had already accumulated at Ledn from our sales since the bear market started last month.

Recently, the Chinese government has forced many miners to leave China, and many of those miners are moving to the United States. Hashrate at Chinese pools has declined precipitously over the past few weeks. This is the best time in bitcoin's history to be an American miner.

With Prohashing being one of the few pools that operates legally in the United States, we decided to seize this golden opportunity double down on providing customers with exceptional service with a new "enterprise mining services" offering. Prohashing can offer large mining farms better payouts than can be earned solely by mining a single coin, and can assist with all government paperwork to ensure these farms remain complaint as they move to America. Expect a new website release with pages detailing the features of this offering by June 28.

Our view is that the most important factors to all customers, but especially large mining farms, are uptime, bugs, capacity, customer service, and security. We have never lost a single dollar to hacks in eight years, our system can easily support 250,000 workers, and we believe that our phone support will impress these miners. However, we can improve upon uptime and bugs by making massive investments in software development.

The first part of this push will involve the purchase of new hardware that will not only resolve the mining server memory issues we had been encountering, but which will leave us with a cold spare server that we can reconstruct in just a few hours in the case that one of the current servers has a massive failure. We will be installing this hardware next Monday, when the parts arrive.

The second part involves the hire of an additional full-time team member so that the existing roles can be shuffled. The new team member will work on new features with the website, which already has a suite of 400 unit tests and rarely encounters release problems. Minimizing involvement with the website will allow Vance to focus his attention on fixing bugs with the mining servers, share inserters, and other backend systems. We also will be creating a simulation environment, where the backend systems can be run against tens of thousands of simulated miners and prices, to reduce the probability that mining server releases fail. As to myself, I'll be able to slightly dial down my software work, and slightly increase marketing and advertising towards this emerging group of customers.

We may then hire an additional team member after the first has been trained, allowing us to accelerate the addition of new mining algorithms and features we have previously mentioned, like PayPal payouts. Other improvements involve renegotiation of our contract with Comcast Enterprise services for additional bandwidth.

We're hoping that we can get the new servers online before July 10, and the new person hired before September 1.

There will be no changes in our services to existing customers, and we'll continue to add new payout coins and mining algorithms over time. Existing customers will also benefit from the uptime and bug improvements that Vance will now be focusing on over the coming months. Thanks for mining with us!

[Banished_Privateer]

Keep up the great work and also don't forget about the little guys Can't wait to see the new website, perhaps it might fix my current issue.