Symply Data Centers Officially Open for Business, Will Mine Etherium
by Justin Hughes
JOHNSON CITY, TN — Symply Health CEO John Cannon announced the launch of his cryptocurrency mining company, Symply Data Centers to much fanfare, but his latest announcement may be more exciting. Cannon said the mining center in Piney Flats — the first of its type in the area — is finally ready to mine Ethereum, the second largest cryptocurrency behind Bitcoin.
Cannon said, “If you’ve looked at cryptocurrencies like Bitcoin and Ethereum, you know that mining is a great way to make money. It has been described as the printing press of the cryptocurrency market. But until now, mining was a technical task available only to a few. Symply Data Centers buys mining rigs for you and configures those rigs to earn the most cryptocurrency possible. You own the rig and collect all the cryptocurrency directly. We get it set up for you, install it in one of our data centers and perform ongoing maintenance.”
Cannon described that start-up costs include equipment costs, an engineering fee and additional monthly server management fees.
Cannon added, “Right now, the mining equipment costs are discounted $450 for a short time — prices fluctuate as do cryptocurrency prices. Currently, the equipment cost is $3,550 and our engineering fee is $2,500. Our model is unique for all mining operations anywhere in the world. We purchase the equipment for our customers, configure it, tune it and optimize the performance. But our customers own the equipment. Should the need arise, they can easily resell the equipment, and we are working on a hardware buyback program. Additionally, we never touch our customer’s crypto revenue. It goes directly to their personal wallet.”
And for those unaccustomed with Ethereum and cryptocurrency mining, Cannon simplified that process, which involves running computers connected to a decentralized worldwide network to authenticate the transactions chronicled on the Ethereum Blockchain, a comprehensive ledger of transactions utilizing the cryptocurrency. The operators of mining computers, “nodes,” are rewarded for their work with Ether “coins.”
Cannon explained in a previous statement, “Ether is earned according to a schedule by the computers who keep the ledger up to date. The process of updating the ledger and getting a reward is called ‘mining.’ This is how new Ether are distributed.” Though the industry is new to many people in the area, Cannon is expecting keen customers seeking to cash-in on cryptocurrencies, which he hypothesizes will “fundamentally change the way the market works.”
Cannon detailed, “I recently signed up a reseller in Istanbul, Turkey. In the last five years, the Turkish Lira has lost 70 percent of its value. Converting Turkish Lira to cryptocurrency mining is a great way for the Turkish citizens to protect their savings. And recently, I was contacted by a U.S. businessman working in Chile looking for international opportunities. With our next data center, we expect to be able to accommodate several hundred rigs. As we grow, we are planning additional data centers and will expand our service to host and manage private blockchain applications.”