GEM Mining is a privately held, institutional-grade Bitcoin (BTC) mining company. The company owns 32,000 miners and is 92% carbon neutral. GEM was founded by five partners, all of whom are members of Young Presidents’ Organization (YPO).
How It Works
GEM Mining has the ability to purchase thousands of Bitcoin miners per month. The price is based on several factors: date of delivery, price of Bitcoin, and the machine’s hash rate. GEM and its investors put down a deposit to secure the purchase of the miners, and the final payment is made prior to the delivery of the miners.
Miners will be shipped directly to GEM Mining’s host providers, Core Scientific or Compute North. Core Scientific is the largest miner hosting provider in North America and has managed operations of over 200,000 machines. Our hosting contracts run through the halving event of 2024, in order to hedge against any future hosting shortage.
Since the inception of Bitcoin, a specific algorithm rewards blocks of Bitcoin that are mined. Currently, a new block is created every 10 minutes, or 144 blocks per day. Each block, when mined to confirm with the blockchain, pays 6.25 BTC as a reward. Track record demonstrates that each machine will produce .02 BTC per month.
All Bitcoin produced can be liquidated daily, weekly, or held in cold storage with Genesis to ensure the custody of the Bitcoin assets.