Crypto mining continues to be a lucrative non traditional investment. However, like any industry, crypto mining presents its own unique set of challenges that people have to navigate through. One of the biggest issues currently facing the crypto mining industry is the proliferation of mining companies who don’t put their customers first. This can take many forms ranging from prioritizing maintenance on their own equipment to the detriment of their customers equipment to even scamming customers by using the customers equipment to mine for themselves.
Rufus Wright, CEO and Founder of Crypto Caverns, says his company is working to make the crypto mining industry a place that people can trust and not have to worry about scammers or predatory practices. He says one of the common issues he sees in the industry is that other crypto mining companies have no real incentive to work on or repair their customers’ machines in a timely manner. This can be seen both in the delays in equipment coming online and in the way many crypto mining companies attend to the problems their customers have when their machines go down or have operational issues. Mr. Wright says instead of going out to fix the issues as soon as possible many mining companies will address the needs of their customers when it is beneficial to them with delays often taking months at a time and ruining the profitability of the investment.
With most crypto mining servers only lasting two years downtime or delays in coming online causes real loss of profits. Crypto Caverns recently announced the launch of their Hashrate Guarantee Program. The program is designed to integrate hosted mining rigs into their own internal infrastructure, which eliminates the concerns of downtime due to maintenance.
The Hashrate Guarantee that Crypto Caverns is now offering synergies with their already existing Hardware Guarantee where they fix any problems with the hardware and will even replace broken machines as long as they are bought from the company and hosted with them. Taken together the hardware guarantee coupled with the hashrate guarantee, mean that Crypto Caverns has an incentive to treat their customers’ equipment exactly as if it was their own.
“We guarantee the customers’ hashrate, so if their machine goes down we use one of ours to cover their hashrates, and we end up treating their machines just like we treat our own,” says Mr. Wright. “We’re totally incentivized to keep all of the machines going all the time. We fully guarantee it. We don’t charge our customers anything extra for the repairs on maintenance.”
Mr. Wright says the industry has become ripe with scammers and fraudsters who are just looking to take peoples’ money. Additionally, many people hosting at other firms have complained of long wait times to have their servers fixed when they began experiencing issues.
According to Mr. Wright, unlike many of their competitors who often have anonymous teams and/or little to no customer support options, the team at Crypto Caverns is devoted to their customers and are always ready to assist them in whatever capacity they can. The company has direct communication with their customers through contact centers and chat lines available on the Crypto Caverns webpage. Mr. Wright says crypto mining has the potential to have a positive impact on the world.
“I believe that crypto currency mining is a great thing, and it can really do a lot of great things for the world, so I get frustrated when I see the bad reputation it gets because of some of these companies who operate on an unethical basis and don’t care for their customers,” says Mr. Wright.
Crypto Caverns is the first crypto mining company to ever be accredited by the Better Business Bureau and is one of the only two to be accredited. Having been valued at $30 million in their last round, as Crypto Caverns continues to grow, the company is expanding with the development of a new eco-friendly mining facility, which will be powered by methane turbines. Mr. Wright says this epitomizes Crypto Caverns’ vision of a green future. The turbines will convert harmful methane emissions, a greenhouse gas, into a sustainable energy source for their operations.
Mr. Wright says the new facility and the company’s commitment to their customers is part of the model to not only bring a good reputation to the industry but to help customers make as much money as possible.
“The more money our customers make the better off we are and the more our company can grow. Crypto Caverns aims to stand out as an industry leader that is overcoming the malpractice that is common throughout crypto mining,” says Mr. Wright.
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