ShareMine AI: Eco-friendly cryptocurrency mining provider for beginners and professionals

Eco-friendly mining is the buzzword in the industry of cryptocurrency these days, led by billionaire Elon Musk who calls for Bitcoin to be environmentally friendly, with Jack Dorsey, founder of Twitter, chiming in to share that Bitcoin is climate friendly, and Michael Saylor forming the Bitcoin Mining Council, focused on promoting the adoption of sustainable cryptocurrency mining.

Here at DNA India, we speak to ShareMine AI, one of the upcoming and prominent with cryptocurrency mining service provider startup, with capital raise of over US$10-million, and already working alongside top reputable partners and suppliers, such as Alibaba, Huawei and Seagate. ShareMine AI, which aims to be the biggest mining pool in the world, has been operationally ready since January 2021, was officially launched earlier in July 2021, last month.

ShareMine AI offers users a one-stop shop for all their cryptocurrency mining needs, a fully comprehensive range of green cryptocurrency mining services with the goal of making the logistical and tedious process of mining hassle-free and accessible to users of varying cryptocurrency mining backgrounds and capabilities.

Founded and headquartered in Singapore, ShareMine AI was formally established by founder and CEO, Jimmy Li, together with investor and co-founder, Herbert Sim, also commonly known as ‘The Bitcoin Man’ – a registered brand name trademark. Having collective experience in the complex finance, blockchain, cryptocurrency investment and digital currency fields, the platform was developed by the two with the vision of lowering the barriers of entry into cryptocurrency mining, allowing people to join the industry freely, regardless of the availability of mining resources to them.

“ShareMine AI was founded with the intention of allowing the everyday person to enter the cryptocurrency industry through a safe and collective platform shared amongst users,” said Jimmy Li, founder and CEO of ShareMine. “Our ultimate aim is to lower the barriers of entry into the cryptocurrency pool for all, regardless of one's previous experience with cryptocurrency and access to mining resources."

“Being in the blockchain industry for over a decade now, it is refreshing to see more and more new entrants focused towards making mining eco-friendly,” continued investor and co-founder, Herbert Sim, also commonly known as ‘The Bitcoin Man’. “I was glad to support and back ShareMine AI because of their vision of making cryptocurrency mining available for even beginners, and more importantly of their focus of being eco-friendly – mining with green energy generated from hydro and solar power and recycle wasted energy.”

Through ShareMine AI, users can mine a wide range of cryptocurrencies including Filecoin, Phala and Swarm (BZZ), as well as more popular and volatile cryptocurrencies such as Bitcoin and Ethereum. Mining done through ShareMine AI is more eco-friendly, as the platform only mines with energy generated from hydro and solar power, making for not only an uncomplicated, but more sustainable form of cryptocurrency mining.

One of ShareMine AI's highlights in particular, is its Chia mining service through its network, Chia Cloud. Chia Cloud is a decentralized open source global blockchain network that uses a blockchain consensus algorithm called "Proof of Space and Time", with the sole focus of mining Chia tokens. As Chia mining's main resource is the use of hard disk space instead of computing power, it is a form of green cryptocurrency mining and is more sustainable as opposed to the "Proof of Work" algorithm, which uses up a far greater amount of energy.

Benefits of mining through Chia Cloud's network include its use of anchored mining machines, open hash power and transparent prices for users. This is so, as Chia Cloud's network connects directly with hardware manufacturers such as chips and hard disks, which supplies Chia Cloud with physical mining machines at supplier prices. Leveraging the advantages of the supply chain, Chia Cloud is then able to charge users for its services at prices no more than the cost price of mining machine services, removing the mark-ups in price by middlemen. As such, the network provides users with the opportunity to mine for Chia tokens at a competitive cost, to allow them to receive the greatest return on investment.

Additionally, independent Chia mining would typically require miners to run complex mining operations themselves, making mining a tedious and difficult process for people. With Chia Cloud's services, the need for users to go through extra steps such as purchasing their own hard drives and dealing with the logistical aspects of mining is eliminated, enabling them to mine for Chia tokens with ease. Furthermore, as Chia is energy saving, using less processing capacity and a fraction of energy compared to other cryptocurrencies, users can simply connect their laptops to their broadband network and mine for tokens from the comfort of their homes.

With Chia mining projected to be one of the top five cryptocurrencies in the near future, the goal of ShareMine AI's services is to essentially enable anyone to mine these top cryptocurrencies in an affordable and simplified manner.

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