Today, Asic Jungle unveils the development of a first-of-its-kind open marketplace for cryptocurrency mining hardware with the launch of its platform’s demo and beta versions. With North America experiencing continued growth in crypto mining operations and no standardized solution available for miners to liquidate their hardware, Asic Jungle identified the need to professionalize the previously opaque market for buying and selling second-hand Application-Specific Integrated Circuit computers (ASIC miners), the most widespread and efficient mining equipment on the market. Asic Jungle has built a two-sided marketplace that allows ASIC sellers and buyers to connect directly in a secure and transparent setting. Starting today, miners in the United States and Canada can sign up for access to Asic Jungle’s beta.
Through its online platform, Asic Jungle provides a secure and standardized solution for cryptocurrency miners that currently only exists behind closed doors, where unknown ASIC brokers withhold pertinent information and sell units at high premiums. Asic Jungle brings free-market mechanisms that allow for efficient price discovery. The platform also implements strong security and verification measures to ensure the legitimacy of all transactions. The company’s objective is to increase consumer confidence and price transparency, while making the exchange of ASICs more efficient and trustworthy than current one-sided alternatives.
“Currently, between 10-15% of the total bitcoin network hashrate is located in North America, which is equivalent to hundreds of thousands of ASICs exchanging hands every 12 -18 months, yet no safe alternative to buying and selling in unreliable channels, like Telegram groups, exists. Miners are putting their money at risk, not knowing if they will receive anything at all. The current resale industry relies on trust, and we all know that trust is a very sensitive asset. With Asic Jungle, we create a trust-minimizing solution that will eliminate the typical risks associated with transacting and offer an all-in-one solution.” said Asic Jungle CEO, Artem Bespaloff.
Asic Jungle’s founding team brings together a wealth of knowledge in managing the resale of mining equipment and secure platform development. Artem Bespaloff, Asic Jungle’s CEO, previously served as an ASIC broker, which ultimately inspired him to create the first above-board secondary marketplace. Dragomir Dobrev, Asic Jungle’s CTO, founded and operated a local bitcoin ATM in Montreal and has years of experience in architecturing back-end and front-end solutions for a variety of business-oriented applications. Charles Wissa, Asic Jungle’s CFO, has a background in traditional finance and previously worked as an analyst for some of Canada’s largest firms.
With operations in the United States and Canada, Asic Jungle is getting ready to provide best-in-class solutions for both sides of the mining industry. Starting today, ASIC sellers in the United States and Canada can sign up for Asic Jungle’s beta to prepare for its full product launch in the coming weeks. T