Innovation

Seeking digital gold

South Africa’s cryptocurrency mining market is growing. Opportunities abound for specialised hardware sales, but there are challenges.

21 July 2017

On June 13 2017, Ethereum reached an all-time high, trading at $395; a month prior, it was at a then-all-time high of $100, compared to $8 at the start of the year. Ethereum’s time in bitcoin’s shadow is finally over.

While bitcoin and Ethereum are the two largest by market capitalisation, there are around 900 digital cryptocurrencies in total. These fiat alternatives have gained popularity because they aren’t controlled by a central banking system and offer an alternative high-risk, high-reward investment opportunity.

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