NEWPORT BEACH, Calif, Dec. 05, 2017 (GLOBE NEWSWIRE) — Vemanti Group, Inc. (OTC PINK:VMNT), a technology-driven holding company, today announced that it has made an investment in cryptocurrency cloud mining starting with a lifetime Bitcoin contract to generate additional revenue and valuation in this new asset class.
Blockchain is an open, distributed ledger that can track transactions between two parties in a verifiable and permanent way. It is the technology that enables the existence of cryptocurrency, among other things. Mining is how the transactions are validated and confirmed by the network that ensures fairness, while keeping the network stable, safe and secure. Cryptocurrency miners secure transactions on the blockchain and, in exchange for expending considerable computing resources to do so, are rewarded with newly created coins.
“Cryptocurrency mining is going to be one of the many components of our blockchain-focused revenue stream, and it goes to show our commitment to the cryptocurrency market. The idea is to allow our investors to gain more cryptocurrency exposure without leaving their brokerage accounts. Going forward, we forecast a continued strong growth of Bitcoin and a few other cryptocurrencies, thus mining fits into our overall corporate direction,” commented Tan Tran, CEO of Vemanti.
At press time, the market cap of Bitcoin is about $193 Billion with prices up over 1,400% in the last 12 months. Bitcoin has the largest market cap of all crypto currencies. Ethereum has a market cap of about $44.8 Billion with prices up over 6,100% from last year. Ethereum has the second largest market cap of all crypto currencies. Sources: www.coindesk.com
Cloud mining or cloud hashing enables participants to purchase mining capacity that of hardware in data centers. A lifetime Bitcoin cloud mining contract enables the Company to earn unlimited Bitcoins without bitcoin mining hardware, bitcoin mining software, electricity, bandwidth or other offline issues.
About Vemanti Group, Inc.
Vemanti Group, Inc. (OTC PINK:VMNT) is a Nevada corporation headquartered in Newport Beach, California. We are a technology-driven holding company that seeks to be active in high-growth and emerging markets. Our core strengths are in technology development and investment. We plan to grow through acquisition and investment in disruptive and foundational technologies by targeting early-stage businesses that have market viable products or by starting a new subsidiary of our own. Strategically, we focus mainly on early-stage Fintech and E-commerce companies based on blockchain technology. For more information, please follow: http://www.vemanti.com
This release contains forward-looking statements within the meaning of Section 27a of the Securities Act of 1933, as amended and section 21e of the Securities and Exchange Act of 1934, as amended. Those statements include the intent, belief or current expectations of the company and its management team. Forward-looking statements are projections of events, revenues, income, future economics, research, development, reformulation, product performance or management’s plans and objectives for future operations. Some or all of the events or results anticipated by these forward-looking statements may not occur. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. Accomplishing the strategy described herein is significantly dependent upon numerous factors, many that are not in management’s control.
Vemanti Group, Inc.