What the surprising connection between money and crypto means for your investment possibilities

[ad_1]

Photo by Scottsdale Mint on Unsplash

The inner workings of a computer are made up of a variety of electronic components working together to bring your screen to life, allowing you to complete tasks, play games, watch movies, and surf the Internet. But have you ever thought about the manufacture of these electronic parts and the raw materials necessary for the proper functioning of a computer?

You may be aware of the presence of copper and even gold due to their ability to conduct electricity. Yet there is another metal that you might not consider to be an integral part of your computer, cell phone, TV, and microwave. This component is silver (CY: SILVER).

The role of money in technology

Of all the metals used in electronics, silver is the best conductor of electricity and heat. Not only that, but it is more economical than gold and can become paste or flakes, printed in sheets, placed in threads and combined with other metals.

Money plays a vital role in the functioning of circuit boards inside computers and is even used in the buttons of keyboards to make them work. The thermal properties of metals are important to a computer cooling system, preventing the system from overheating while spending the massive amount of power that computers need to calculate.

Harnessing power to mine cryptocurrency

Right now, you might be wondering what all this money talk has to do with cryptocurrency. After all, Bitcoin (BTC) and Etherium (ETH) are digital currencies and do not contain money. But you cannot underestimate the critical role of money in cryptocurrencies because to acquire these digital assets; you have to exploit them using the power of the computer.

A crypto mining rig is a powerful conglomerate of many graphics processing units (GPUs) inside many computers that work together using tremendous power to mine. These setups run day and night, generating immense heat that requires constant cooling to keep functioning properly. And because no other metal equals the thermal powers of silver, the precious metal is essential to the crypto mining process.

The story continues

But in order to get the money into computers, you must first extract the metal from the ground to make it available to manufacturers for productive use. And for that, you need silver exploration and development companies like Lakewood Exploration Inc. (CSE: LWD).

Harnessing the keys to mining

With the recent acquisition of Silver Hammer Mining, Lakewood Exploration now owns the former Silver Strand mine located in one of the most prolific silver mining belts in the world. The Coeur d’Alene Mining District in Idaho is responsible for more than 1.2 billion ounces of silver production from many world-class mines in the region, many of which have been mined at depths deeper than of 1800 meters. Conversely, Silver Strand has been mined to depths of just 90 meters, suggesting to the Lakewood team that there is significant potential for silver discovery at depth.

The Lakewood team is planning an aggressive exploration program to increase silver resources while moving towards near-term production. Once in production, the silver mined from the Silver Strand mine could help meet the demand for silver used in electronics, including for cryptocurrency mining, which is becoming increasingly ubiquitous in the world. world. Money is essential to the cryptocurrency market and without companies bringing new money resources into the market, it is almost impossible to meet the growing demand in the financial technology arena.

See more Benzinga

2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

[ad_2]