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Macro Energy mints solid profit from Bitcoin mining

Macro Energy mints solid profit from Bitcoin mining

Macro Energy (ASX: MEJ) should trade higher today after generating in excess of 1,700 Bitcoins in 42 days from the first instalment of BitFury mining hardware on 20 March 2014.

The Bitcoin market price today is approximately US$430 for 1 Bitcoin, and MEJ is capitalised at $11 million.

The second instalment of state of the art BitFury mining hardware is expected to be delivered and operational later this month.

In addition, trading desk operations have generated a return of 31% from funds invested up to 30 April 2014.

digitalBTC’s mining operations involve buying state of the art mining hardware, mining Bitcoins and then selling the hardware as required to keep at the forefront of technology, typically within two to six months of purchase.

digitalBTC’s trading desk trades digital currencies such as Bitcoin, through major internationally recognised exchanges using specialised strategies which include arbitrage, buying long positions, selling short positions, futures contracts and market making.

Bitcoins generated from mining operations are liquidated into US dollars in association with these trading activities – typically several times a week on various Bitcoin exchanges.

Bitcoin is a peer-to-peer payment system and digital currency, with a total market capitalisation of around US$5.5
billion.

Over 65,000 Bitcoin transactions occur daily for a trade value of US$55 million, on a rolling twelve month basis, and in excess of US$20 million in value is regularly traded every 24 hours.

digitalBTC is well placed to take advantage of this revolution and will investigate further strategic opportunities within the digital currency sector.

 

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