With the expansion of its Bitcoin Mining division, Nate’s Food Co. is taming the inflationary market
HUNTINGTON BEACH, CA – February 13, 2023– McapMediaWire — Nate’s Food Co. (OTC: NHMD) recent acquisition of additional Bitcoin mining systems is signaling a significant score in the company’s strategy to hedge against rising prices. The food development and distribution company is increasing its Bitcoin mining operation at a time when Bitcoin is experiencing a resurgence, it seems the timing couldn’t be better.
While Bitcoin may have had a rocky 2022, the cryptocurrency is finding new legs and investor confidence along with it. Widely considered a more reliable way to store value than assets such as gold, stocks, and real estate, the exponential price increases that Bitcoin has experienced – 59.8% in 2021 alone – have resulted in Bitcoin’s value dramatically outpacing inflation since its inception.
As profitable as Bitcoin may be, however, the cryptocurrency – and the process of Bitcoin mining in particular – remains a relative mystery to many outside of the crypto space.
Bitcoin Mining For The Uninitiated
In order to understand Bitcoin mining, we need to understand the nature of Bitcoin itself. Bitcoin, like every other cryptocurrency, is built on a blockchain. With a blockchain essentially being a decentralized ledger, every member of the chain (every Bitcoin holder) holds a copy of this ledger.
As a result, there’s no central bank or governing authority involved in the management of the currency, with Bitcoin holders controlling every aspect of the currency themselves.
Providing enhanced speed, transparency, and security (to hack a cryptocurrency, you’d need to hack almost every copy of the ledger), cryptocurrencies like Bitcoin provide a secure way to conduct financial transactions. With transactions grouped into blocks that are validated before being added to the chain, Bitcoin miners provide the validation service for the blockchain.
Bitcoin currently pays 6.25 coins per block validation (that’s currently around $144,000), making mining a highly profitable enterprise as well as an effective way to increase your Bitcoin holdings.
The Mining Process
As with all things technological, your success as a Bitcoin miner is almost entirely dependent on the amount of computing power you have available – because, at its core, Bitcoin mining is a competition.
In order to win the right to validate a block, miners have to be the first to guess the correct sequence of a lengthy string of numbers and letters known as a ‘hash’. With the hash containing 64 characters, this isn’t something that even the brightest or luckiest of us can do unaided. With Bitcoin mining computers generating countless guesses every second, the sheer amount of brute force computing power you have available plays a major factor in your success rate.
In the event of a successful guess, your computer records the transactions for that particular block which is then verified by the blockchain community. With Bitcoin producing a new block every 10 minutes, that’s over $20 million USD worth of Bitcoin up for grabs every day.
Nate Foods Flexes its Technological Muscle
When Bitcoin first launched, mining the currency was a relatively easy enterprise to get involved in. Miners were an assorted group of people – from career miners to amateurs who simply had a gaming computer in their bedroom with a powerful enough graphics card.
However, as the value of Bitcoin has soared over the years, the realm of the amateur miner has given way to the entrance of the professional mining operation. With these operations investing vast amounts of money into hugely powerful mining rigs, Bitcoin mining is now a very competitive and serious-minded arena.
With Nate Foods operating a collection of Antminer S19 Pro mining machines – the most powerful and profitable ASIC mining system for Bitcoin – the company is well-positioned to compete successfully.
The Fight Against Inflation & Market Volatility
When it comes to Bitcoin holdings, their effectiveness as a hedge against inflation is a result of 2 inherent characteristics that the cryptocurrency possesses.
First of all, Bitcoin has a limited supply. With the cryptocurrency algorithmically capped at 21 million coins, it’s a finite resource in much the same way as gold. With 19.28 million Bitcoins currently in circulation, we’re slowly but steadily reaching the limit. What’s more, with the number of new Bitcoins issued per block halving every four years, the last Bitcoin will most likely be issued more than a century from now.
With a set limit on Bitcoin’s supply, its scarcity serves as an inflationary check. With its production roughly half that of gold and set to decrease even further, its value in the long term is increasingly assured.
The second quality is Bitcoin’s decentralized structure, which removes it from the influence of governing bodies and their monetary policies. With any governing structure subject to external pressures – both legitimate and corrupt – that may influence their fiscal policy, no such pressures affect Bitcoin.
For example, if we look at the value of Bitcoin before the Fed issued its spate of quantitative easing in 2020, it was priced at approximately $9,000 a coin. Today, it’s worth over $23,000.
While Bitcoin may have had a turbulent ride over the past year or so, its ultimate scarcity and resilience to fiscal policy make it an increasingly wise investment.
To find out more about Nate’s Food Co. and how its Bitcoin Mining Division is helping the company to thrive, you can contact us here.
About Nate’s Food Co.
The Company operates two divisions: (1) Food development and distribution and (2) bitcoin mining. The Company’s focus is the development of food products for distribution in wholesale membership stores and into retail grocery stores. The Company also operates a bitcoin mining division as a hedge against inflation.
Revenue related calculations. Please note that the Company believes that any revenue related calculations are accurate and based on factual information, there can be no assurance that the Company will be able to achieve all projections due to number of business-related factors, such as power pricing, mining equipment availability, bitcoin mining difficulty, bitcoin market pricing and other unforeseen issues in deploying its mining rigs. You can view update information on Bitcoin Mining by visiting https://alloscomp.com/bitcoin/calculator.
Certain statements in this release constitute forward-looking statements. These statements include the capabilities and success of the Company’s business and any of its products, services or solutions. The words “believe,” “forecast,” “project,” “intend,” “expect,” “plan,” “should,” “would,” and similar expressions and all statements, which are not historical facts, are intended to identify forward-looking statements. These forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors, any of which could cause the Company to not achieve some or all of its goals or the Company’s previously reported actual results, performance (finance or operating) to change or differ from future results, performance (financing and operating) or achievements, including those expressed or implied by such forward-looking statements. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the SEC, copies of which may be obtained from the SEC’s website at www.sec.gov. The Company assumes no, and hereby disclaims any, obligation to update the forward-looking statements contained in this press release.
For more information:
Nate’s Food Co.
Phone: (949) 341-1834
Nate’s Food Mines Deep To Fight Inflation by Thomas Wolff