Coin Citadel (OTCMKTS:CCTL) is currently one of the better-known companies involved in the cryptocurrency industry. The company owns and operates multiple computing facilities that play a role in the smooth running of the worldwide digital finance space.
Computing power is the most important part of the cryptocurrency ecosystem and Coin Citadel works in that space. Cryptocurrency networks like Bitcoin depend on the computing power provided by Coin Citadel and in return, the company is provided a fee for the transactions that are processed on the networks. The company’s services are priced competitively and at this point, it is one of the better-known names in the industry with a management that has a long track record.
The management team at Coin Citadel has been involved with cryptocurrency since as far back as 2014. In addition to the services that it provides to various cryptocurrency networks, Coin Citadel is also working on building the robust infrastructure that is going to be necessary for the growth of the digital currencies space as a whole.
Back in March last year, the company also provided a key update for its shareholders with regards to the Bitcoin mining industry.
There was going to be a halving of rewards to Bitcoin miners in March 2020 and in anticipation of that move, the company provided an update to its shareholders. Coin Citadel noted that despite the halving of rewards, it is going to be able to continue to mine Bitcoin and other cryptocurrencies profitably going forward.
The company stated that its cost towards power are pretty low and hence, Coin Citadel projected in its update that its mining operations are going to be profitable up until 2024. It goes without saying that it was a highly significant update that must have come as a significant boost for both existing as well as potential investors.
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