This Mining Company Thinks You’re Wasting Money on Spot Bitcoin
Why Simple Mining Believes ASICs Beat Buying Bitcoin
As Bitcoin adoption grows, many investors stick to the basics: buying Bitcoin directly. But one mining company, Simple Mining, thinks that’s the wrong approach.
In an exclusive interview with TheStreet Roundtable, Billy Boone, Director of Research and Marketing at Simple Mining, explained why owning and operating your own ASIC miner could be a smarter—and more profitable—way to gain exposure to Bitcoin.
From Cell Phone Repairs to Crypto Powerhouses
A Unique Origin Story
Simple Mining wasn’t always in crypto. In fact, it started out doing cell phone repairs. But in 2021, the team started getting odd requests: people needed help unlocking ASIC miner passwords.
That led to a full pivot. By November 2021, Simple Mining deployed its first container of 50 ASIC miners at a utility site in Iowa.
Fast forward to 2025: the company now runs over 20,000 machines across seven locations, with nine more sites planned by year-end. That’s rapid growth for a company that only entered the space a few years ago.
What Makes Simple Mining Different?
You Own the Hardware
Unlike cloud mining platforms where users lease hash power, Simple Mining offers direct ownership of ASIC hardware. That means:
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You own the machine outright.
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You can move it to another facility with cheaper power.
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You get depreciation tax benefits on the hardware.
Boone explains:
“With just a few clicks, users can get mining the same day they pay. It’s a simple, hands-on way to start earning Bitcoin.”
A Big Bet on Green Energy
Partnering with Alps Blockchain for Hydro Power
Simple Mining recently teamed up with Alps Blockchain to launch a 50-megawatt hydro-powered site. This facility uses water-cooled hydro miners that are not only environmentally friendly but also extremely profitable.
“Hydro miners are cheaper to cool than traditional fan-based rigs,” Boone said. “They’re performing incredibly well right now.”
Mining with green energy isn’t just good for the planet—it’s good for your bottom line. Especially in places like Iowa, where 65% of electricity comes from wind power.
Hosted Mining vs. Spot Bitcoin: What’s the Real Advantage
Turning Electricity into Bitcoin
Boone argues that mining Bitcoin is like buying it at a discount. Here’s why:
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If you spend $50,000 on electricity, your ASIC miner could generate up to $110,000 worth of Bitcoin.
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That means you’re essentially buying BTC at less than half the market price—a huge edge over spot buying.
“It’s a more efficient way to increase your Bitcoin per share,” Boone says, especially for corporate treasuries looking to add BTC to their balance sheets.
Flexibility and Financial Benefits
More Than Just Mining Rewards
When you buy an ASIC miner through Simple Mining, you’re not just earning Bitcoin—you’re also getting strategic advantages:
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Tax deductions through hardware depreciation
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Resale value if you choose to upgrade
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Relocation flexibility to chase cheaper power
And since Bitcoin mining income is in BTC, you gain from both price appreciation and consistent output.
Helping the Grid While Earning Bitcoin
Supporting Renewable Energy Utilities
Mining isn’t just about making money—it’s also becoming a valuable part of the energy ecosystem.
Boone highlights that in Iowa, where renewables are dominant, Bitcoin mining helps balance power demand. When wind or hydro generates excess energy, miners absorb it, turning otherwise wasted power into productive value.
It’s a win-win: utilities stay stable, and miners get cheaper electricity.
Boone’s Advice: Don’t Just Buy Bitcoin—Mine It
Boone’s core message to investors is simple: Bitcoin mining puts you in control. Instead of buying Bitcoin at whatever price the market demands, you can create it, often at a lower cost.
“Don’t just buy Bitcoin. Own the machines. Let them work for you,” Boone says.
This approach, he argues, offers a smarter entry point, especially for long-term holders who want to increase exposure over time.
Is Mining the New Smart Way to Stack BTC
Simple Mining’s strategy isn’t for everyone—you still need to understand the risks of hardware, electricity costs, and market volatility. But for those willing to get involved, owning ASIC miners can offer major rewards.
With partnerships in green energy, fast onboarding, and full machine ownership, Simple Mining makes the process simple, transparent, and potentially more profitable than just buying Bitcoin on an exchange.
Disclaimer: The above press release has been provided by a third party. We do not verify or endorse the content and will not be responsible for any inaccuracies, claims, or damages arising from the same.
