The flagship cryptocurrency.
Institutional and government support for bitcoin and other cryptocurrencies is quickly increasing.
Bitcoin continues to gain momentum as the flagship cryptocurrency.

Bitcoin Mining 101
A list of a few key questions regarding bitcoin and crytocurrency.
1. What is bitcoin?
- Bitcoin (“BTC”) is the original cryptocurrency (often referred to as “digital gold”) and operates on a shared ledger using blockchain technology that provides verifiable and secure transactions
- Cryptocurrency: a digital currency where all transactions are verified and recorded on a decentralized system
- Finite supply of BTC, with ~19 MM of the 21 MM already in circulation; total market cap of BTC is ~$650 B
- Bitcoin mining worldwide consumes ~130 TWh annually, comparable to the power consumption of Argentina
2. How does mining work?
- Bitcoin transactions are pooled together in a “block” and encrypted by a complex puzzle
- Once a block is formed, miners compete to solve the puzzle (difficult to solve, yet simple to verify)
- Once solved, the transactions are “verified” by the network
- The new block of verified transactions is attached to a chain of prior blocks, hence “blockchain”
- For solving the puzzle, miners are rewarded with bitcoin (currently, 6.25 BTC per block/blocks are solved on average every 10 minutes)
3. How are miners profitable?
Miners are profitable based on the hashrate, bitcoin price, and the global mining rewards, less the price of miners, cost of electricity, and O&M expense.
Cumulus Coin controls the Cumulus hashrate, the cost of electricity, and the O&M expense.
4. How to invest in bitcoin?
- Purchase the asset
- Buy into an ETF (i.e., ARK Invest)
OR
- Invest in a producer (Cumulus Coin)