The blockchain media company Web Global Holdings is gearing up for an ambitious, two-headed initiative in the crypto space. They’ve formed a partnership with Bitex, LLC to enter the mining scene, and they’ve started their own streaming news service.
The news service, which runs 24-hours OTT, will focus on blockchain technology, crypto, and FinTech, and is expected to launch in February 2019. The company is busy producing content in anticipation for the big reveal. One of their flagship channels is ‘CryptoCake’, the first to focus exclusively on this niche.
Web Global Holdings target audience skews young. The company is looking for high-quality, up-to-date content on everything related to the blockchain technology, crypto, and FinTech. ‘CryptoCake’ has a a lot of ground to cover. They need to profile the highs-and-lows of the crypto market, while simultaneously reporting on what market experts think of these fluctuations. They need to let their audience know the opinions of thought leaders, to say nothing of the important court rulings impacting the industry, and Blockchain’s continuing entrance into new fields, such as logistics, smart home, or Automotive IoT. CryptoCake needs to be on top of all these consistently.
So, why crypto mining? After all, isn’t mining becoming increasingly commoditized? According to a report by CoinTelegraph, the cost to mine one bitcoin reached $8,038 in March. The report also shows how the global mining pool continues to increase while miners see diminishing returns. Furthermore, the negative media coverage of Bitcoins’ insatiable appetite for energy, may give one pause when thinking of a move toward mining as a smart plan for their company.
The answer is that Web Global Holdings’ partnership with Bitex is hardly about crypto mining alone. Bitex is a highly successful company. They have excellent networks in the young, growing blockchain-crypto ecosystem, which Web Global Holdings will now be able to access. Staying on top of the news cycle is hard enough even for generic news channels, let alone a blockchain media company working in an industry that’s mutating on an hourly basis. CryptoCake needs highly qualified people they can count on for high-value content in different touchpoints in this ecosystem, something that’s only possible only with a wide network. This partnership offers exactly that.
The operational entity for this new crypto mining venture will be known as ‘BitGen Mining’. The hands-on exposure to crypto mining will provide a ground-zero view to Web Global Holdings and support the ad revenue growth besides.
Web Global Holdings is a publicly traded company. BitGen Mining now joins their other subsidiaries like CryptoCake and Allocation Media Entertainment. Web Global Holdings has other subsidiaries in the traditional space, too. They are already present in TV production, Internet, and streaming media. They bring this significant media production expertise into CryptoCake. Web Global Holdings plans to become a robust and diversified blockchain-crypto conglomerate.
Bitex, already prominent as a crypto mining company, will now work with the team that’s building this ‘first of a kind’ crypto-only channel. They will receive higher media coverage, and at another level, will be working closely with a publicly-traded company, gaining valuable insights into growth in the process.