Cryptocurrency mining has become a hot topic of conversation over the past couple of years due to its lucrative nature and the impact the industry has on the environment.
The emergence of Web3 and the increased presence of Internet of Things (IoT) devices has led to a new class of low-cost mining protocols with low-power network technology. These include LPWAN or LoRaWAN which are designed to transmit low bit rate data over long distances.
One such protocol that has been gaining traction in recent months is MXC, a Web3 infrastructure protocol designed to provide geolocation-based LPWAN coverage to IoT devices around the world
Data from Cointelegraph Markets Pro and TradingView shows that since hitting a low of $0.046 on Jan. 1, the price of MXC has seen a 200% rally to a new all-time high of $0.139 on Jan. 19.
MXC/USDT 1-day chart. Source: TradingView
Three factors adding to MXC’s building momentum include the earning capability of the MXC miners that can mine multiple cryptocurrencies simultaneously, the introduction of one-week shipping for new mining devices and an expanding, global ecosystem of partners and independent mining nodes.
Mining diversity could be an advantage
The IoT mining sector has seen many new entrants become established in recent years with projects like Helium (HNT) and Nitro Network (NCASH) offering LoRaWAN based networks that transfer data in exchange for the native HNT and NCASH tokens.
MXC has chosen a different route that utilizes a low-power wide-area network (LPWAN) to offer coverage for IoT devices that can also mine multiple cryptocurrencies, including Bitcoin (BTC), MXC and DataHighway (DHX) simultaneously.
The MXC network uses its MatchX M2 Pro LPWAN miner, which is available for purchase on their website at a price of € 2,499 or on Amazon for a price of $3,299, alongside the DataDash app, which allows users to manage its miners and rewards.
In terms of devices capable of mining Bitcoin, the M2 Pro miner requires 5 watts of power as compared to the 3,250 watts required by the…