Asic Jungle has launched a trial version of what it calls “the very first market for miners” for cryptocurrency miners. Artem Pispalov, CEO of the company, told Cointelegraph that he created a reliable platform for used mining equipment that works without intermediaries:
“[This is] the first and only online marketplace where buyers can interact directly with sellers through the platform and they do not have to use broker or telegram channels (I call them” inaccurate “telegram channels) because all sorts of things and we decided to create sellers and buyers interact with each other.
List of samples. Source: Asic Jungle.
The company’s solution to these problems is a two-way marketplace that connects buyers and sellers of ASIC in a secure and transparent environment. ASIC brokers are currently charging high premiums, and are taking advantage of the market’s lack of pricing mechanisms, Bespaloff said. He believes that these intermediaries create information asymmetries by hiding relevant information.
Bespaloff said that Asic Jungle maintains a number of security features to ensure that transactions are conducted in a secure environment, including compliance with money laundering requirements. As the Canadian company serves customers from all over the world, they intend to comply with both local laws and regulations and compliance laws in the United States.
Although mining equipment is gradually becoming less efficient, Bispalof stressed that there is a strong demand for used equipment in places with very cheap or free energy sources, such as parts of Canada and Venezuela, despite the latter’s population. He could be excluded from participating in the effort to comply with US sanctions.
Bitcoin and Ethereum (ETH) have recently witnessed an increase in the index’s hash rate, indicating that there will be no shortage of interest in mining in the near future.