Mining, Opinion

How to Insure your Bitcoin Miners

August 3, 2021

Bitcoin mining hardware can be a lucrative investment, and with mining difficulty down and the price of Bitcoin expected to surge in the near future, the timing is better than ever. But how can you protect your ASIC miners from damage and theft? As a leader in the mining farm management space, we at Wattum take pride in providing our clients with high quality equipment, hosting, and management. Our new service offering, Wattum Care, provides our clients the option to protect their equipment with three tiers of post-purchase care.

Protect your Mining Investment with Wattum Care

A commitment to regular maintenance and monitored security of your machines can effectively extend their useful lifetime and maximize your long-term profitability. Wattum Care is a 3-tiered protection plan available to all customers who have purchased Bitcoin mining equipment from Wattum or are utilizing our hosting and management services, designed to preserve your hardware and maximize your mining productivity. We offer Wattum Care, Wattum Care Plus, and Wattum Care Ultimate to meet all mining insurance needs and levels of risk aversity. Our expert staff is enthusiastic and dedicated to working with you to determine which arrangement fits best with your mining situation.

Consider Obtaining additional Insurance for your Property

Bitcoin mining companies and independent miners with large footprints may want to add extended protection for their financial assets with insurance. Wattum can purchase additional coverage on your behalf for your property against force majeure, which would typically absolve contracted parties of their obligations due to an unexpected situation. Wattum is currently in the process of finalizing an insurance policy through Lloyd’s of London, a leading global provider of specialist insurance services, to cover our facility in Kazakhstan. Further, thanks to Liberty Mutual’s coverage of property and equipment in the U.S., we can obtain insurance for any property, which widens our ability to help you navigate the mining insurance realm. As an extra precaution, we can install suspended auto fire extinguishers that are electric-safe next to your miners. We also offer a more compact option that can fit in even the tightest of hosting spaces.

As Bitcoin mining difficulty drops, allowing miners to yield more coins, and mining becomes increasingly lucrative, protecting your investment is paramount. Our experts estimate that consistently maintaining a high level of care for your mining hardware can increase its useful life to as many as 7 years of good working condition. Extend the lifetime of your machines by partnering with Wattum’s seasoned data center and cryptocurrency mining farm management specialists. With Wattum Care and our additional property insurance offerings, you can enjoy peace of mind in the security of your mining investment.

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Production is tracked at all times

EQUIPMENT OPTIMIZATION

Update firmware and drivers

REMOTE REBOOT

Regularly monitored and rebooted

TROUBLESHOOTING

Fix machines that stop mining

AUTOMATED EQUIPMENT UPKEEP

Equipment is routinely tested

ORDER REPLACEMENT PARTS

Part ordering and equipment repair

METER READING & INVOICE CREATION

Compare electricity vs profits

COIN SWITCHING (GPU ONLY)

Switch coins based on profitability

MONTHLY PROFIT TESTING

Pools are audited monthly

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