Frequently Asked Questions
What are cryptocurrencies?
Cryptocurrencies are digital assets designed to work as a medium of exchange that uses cryptography to secure its transactions, to control
the creation of additional units, and to verify the transfer of assets. These assets can be used as a form of payment, used as a contract,
act as a representation of a real-world item, or to show ownership in an entity.
What is cryptocurrency mining?
Cryptocurrency mining is the process where transactions are verified. Verified transactions are grouped into blocks and stored on a distributed
ledger called a blockchain. A reward is issued to the creator of a block that is well-formed and successfully added to the blockchain. There are
two main forms of mining today which are proof of work (PoW) and proof of stake (PoS). In proof of work systems, the mining is done by solving
complex problems to earn the right to create a block. In a proof of stake system, participants who keep a number of coins reserved (stake),
called nodes, are selected at random to create the next block on the blockchain. Pivent will focus on supporting proof of work cryptocurrencies
by contributing computing power to process transactions. From time to time, we will evaluate proof of stake cryptocurrencies and participate in
these networks when it aligns with our long-term goals.
Why should I invest in Pivent versus just mine with my own personal equipment?
Mining with your own equipment is possible. However, to remain a profitable mining operation, you must spend time monitoring your equipment,
finding space to expand your operation, getting proper electrical power installed in the new space, and setting up cooling equipment to keep
the heat down in the space. Additionally, there are other mining operations mining from home. All of those miners are contributing to the
increase in difficulty of mining, which leads to a lower amount of revenue from mining. These factors require time and a dedicated team to
ensure the operation keeps running smoothly. At Pivent, this would all be taken care of for you. All you have to do is look forward to your
What is the expected return on my investment? Are there any risks?
As with any investment, there are risks. This is especially true with cryptocurrencies as they are relatively new and often volatile. There are
also regulatory challenges for cryptocurrencies that are currently being addressed, which introduces a level of uncertainty. Returns can be high,
but they can also be zero. By investing in a cryptocurrency mining company, you have to be prepared for both scenarios. Please do your own
research. With that said, Pivent will always work to minimize risks to our investors by continually learning and adapting to the ever-changing
Why are you launching now?
We feel the current conditions are the best for launching a new crypto mining company. First, equipment costs have returned to reasonable prices.
This is due to a lower demand by other mining companies and the general public. This allows Pivent to negotiate even better wholesale prices from
equipment manufactures. Second, Pivent’s low operational cost, around $1000/Bitcoin, is far below the average in the United States which is near
$5000/Bitcoin. This allows Pivent to remain profitable even during current market conditions. Finally, due to current market conditions, other
mining companies have either had to reduce their mining operations or even shut down completely. This has resulted in less mining competition due
to fewer companies mining and more revenue for us.
What cryptocurrencies will you mine?
Pivent will mine Bitcoin indirectly via altcoins such as Digibyte, Zcash, and Zen Protocol. We will mine using a combination of application-specific
integrated circuit (ASIC) and Field Programmable Gate Arrays (FPGA) hardware. This gives us the best of both efficiency and adaptability. By
mining altcoins, we can earn Bitcoin today while maintaining the ability to pivot to earn the most valuable coins in the future. Our use of FPGAs
opens the doors to be able to mine virtually all mineable cryptocurrencies. This provides a great balance that will allow Pivent to maximize its
How will you give back?
At Pivent’s core is its mission to help grow society by tackling current social issues. We feel it is important not only to maximize revenue, but
to also maximize the lives of others. There needs to be a shift in the way we all think about the current norms with the current socio-economic
climate in the world. We need to prepare ourselves for a future where advances in automation and artificial intelligence frees us to pursue our
passions. The basic needs of all will still need to be met. This is where Pivent steps in and helps provide solutions to ease the transition to
the new world. The first initiative Pivent will focus on is affordable housing. Pivent will build self-contained mining units that can be built
into homes. The revenue from these units will provide the income needed to offset the cost of housing for families. Building mining units into
homes also fits into Pivent’s goals to scale out and be robust while also giving back. This will help build strong and diverse communities that
are needed to make tomorrow a better place than yesterday.