The British entrepreneurs making a fortune from Bitcoin mining



A Bitcoin mining facility in China


“It’s insanity,” says Jamie Woodruff. “The profitability of Bitcoin mining is booming.”

As the force generated by the acceleration of his Audi RS pushes us back into our seats, and we speed towards a warehouse on an industrial park somewhere in the North West of England, he mentions that this is the 13th car he has bought in 18 months.

The value of Bitcoin, the unregulated, decentralised digital currency, has risen prodigiously since April of this year, when a single Bitcoin was worth a little over $1,000 (£746). At the end of November, it rose above $10,000, by mid December it was nearly $20,000 and even a 30pc drop on Friday only wiped out three weeks’ of gains.

The spike has been particularly good news for anyone who got in early. The Winklevoss twins – best known for walking away with $65m having alleged that Mark Zuckerberg stole their idea to create Facebook – declared that they jointly…

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Source

http://www.telegraph.co.uk/business/2017/12/23/mining-magic-money-britain/

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