We were successfully able to reverse the decline in customers and gained customers for the first time this cycle in July.
The main weakness is lacking a reserve, as the reserve was eliminated in the scam lender bankruptcies of BlockFi, Genesis, and Celsius.
Therefore, it is not able to offer bitcoin pay-per-share mining, which requires 6.5 to 13 bitcoins to protect against bad luck. Offering bitcoin mining in pay-per-share mode, rather than the PPLNS and solo modes that are currently supported, would significantly increase our customer base and open the service to professional miners. This feature can be turned on within one hour after money is added to the pool's reserve.
Second, because the company lost its reserve, it is not highly ranked on Google, cannot afford ads, and has a domain ranking much lower than its competitors despite having a clearly superior featureset. The loss of the reserve after the failure of the lending firms hindered its ability to break through the noise and reach customers, particularly large mining farms. The lack of marketing led to a slowdown in acquisition of new customers. Despite the lack of marketing, however, the percentage slowdown in website traffic has not exceeded the 2015 and 2019 bitcoin cycle lows (see traffic stats). We are seeking an acquisition so that at least minimal advertising can resume before normal attrition continues to overwhelm new customers.
It's software and IP is overbuilt for its current customer base. 10 years of development had resulted in a pool that is largely bug-free, requires no share corrections or adjustments, and which has a worldwide architecture with backup daemons. It's customers are willing to pay fees above 4%, far in excess of the industry average. The bounce rate is well below Google's average of 45%, and people who visit the site are quick to become customers. Many customers provide feedback that they are surprised that such a well-designed pool isn't more widely known. A buyer who has sufficient reserve could take advantage of the expertise of the business’ employees, its custom-built marketing software, and the buyer's connections with industry leaders to supercharge this already profitable business.
Operations:
Its user interface, with its charts and graphs and real-time error monitoring, exceeds that of all major pools, such as Braiins and Antpool. This is the only mining pool that offers the option to pay in US dollars direct to bank accounts.
The business offers all major algorithms and has the tested capacity to handle 30x more miners than the 6000 it now serves. The company spent 3 years creating thousands of tests for its website to ensure bug-free operation, and over the years has developed a mining system that handles coin daemon errors that would result in large losses of money if open source software is used.
Our employees spent years becoming some of the most knowledgeable people in the world about blockchains and maintaining and programming coin daemons. The infrastructure and expertise is ready to go for great buyers to take this already million-dollar yearly profitable business to the next level.
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