Historical Background of Bitcoin, Mining and NFM
Bitcoin (₿) is a decentralized digital currency, without a central bank or single administrator, that can be sent from user to user on the peer-to-peer bitcoin network (SHA-256) without the need for intermediaries. Transactions are verified by network nodes or cryptocurrency miners via cryptography and recorded in a public distributed ledger called a blockchain. Bitcoin was invented in 2008 by an unknown person or group of people using the name Satoshi Nakamoto. The word bitcoin was defined in a whitepaper published on 31 October 2008. It is a compound of the words bit and coin. The currency was first utilized in 2009 when its implementation was released as open-source software.
On 3 January 2009, the bitcoin network came into existence with Satoshi Nakamoto mining the genesis block of bitcoin (block number 0), which had a reward of 50 bitcoins. As the bitcoin revolution began more miners joined the blockchain verifying transactions and allowing new bitcoins to enter circulation. Amongst these miners were team members of NFMs who joined as early as 2015. Nowadays this process has exponentially increased in difficulty requiring more sophisticated and powerful cryptocurrency mining hardware. NFM members continued to evolve and adapt to the growing difficulty by constantly increasing their total mining power.
In 2019, Pratyush Singh founded EziMining, a cryptocurrency mining operation that sought to mine various cryptocurrencies on a commercial scale. Over the years, EziMining has accumulated over $7.5M in mining hardware and infrastructure and now operates over 35 acres of land throughout Ontario, Canada. EziMining has established itself in the mining industry and continues to offer clients around the world the most competitive hardware pricing and hosting solutions on the market.
Now, in 2022, EziMining is venturing into the NFT space through NFM. By combining the mining and NFT worlds, EziMining seeks to provide a digital mining solution to reward NFM holders around the world via tokenized mining NFTs.
Upon minting out, NFM in collaboration with Eziming will deploy over 50 ASIC miners in their Canadian facility producing 0.4 BTC in monthly revenue to reward members of the 666 Private club. As difficulty increases and halving occurs often we will continue to grow the NFM mining power to increase revenue. Earnings from bitcoin mining will be converted to Ethereum periodically to reward members of the 666 Private club. This will soon be our history and we are dedicated to providing an even brighter future for NFM holders.
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