Serving you since 703246
At Quiet, we believe that the world was overdue for a paradigm shift in finance and the possibilities of a global currency without borders.
To that end, we verify blockchain transactions, securing the distributed ledger that powers Bitcoin, the world's first and largest digital currency.
What's more is that we're doing it differently than others. We strive for energy efficiency, and we operate off-peak hours only, so that we are purchasing energy that typically goes to waste, and not burdening the power grid while families need the energy most.
QUICK STATS
HASH RATE
MINERS
POWER
68 PETAHASH
1189 ASICs
4.8 MEGAWATTS current peak usage
CORE VALUES
First and foremost, we believe in math. Numbers don't lie, and there are no politics in code. We're different from other mining companies, because we value efficiency over total output. And while most miners see the difficulty increasing as diminishing their profits, we see the blockchain becoming more resilient and secure.
Second, we believe in being a good neighbor. From echo abatement as a means of reducing noise pollution to not taxing the grid during peak hours, we think about our community with each business decision we make.
Finally, we believe in clean, nuclear energy - a carbon friendly, zero emissions energy source. We want the blockchain, we just don't want it powered off of coal or other fossil fuels.
MANAGEMENT TEAM
BRENDAN MORRIS
CEO
Prior to serving as Quiet's Chief Executive Officer, Brendan has made his mark in the Amazon private label space with an 8-figure exit, and as founder of the SaaS company, Seller.Tools, providing needed data to other marketplace sellers.
BRIAN LEONARD
PRESIDENT
Brian comes with over 20 years experience in the corporate IT industry, where he specialized in data center implementations. He has also created numerous brands of products that have generated tens of millions of dollars in shareholder value.
MATT WILSON
IT MANAGER
Matt is a computing and electronics guru. He is responsible for keeping the miners running optimally, and ensuring maximum uptime. No detail escapes him, he's capable of hashboard repair and manual tuning of frequencies and voltages.
CONSULTING SERVICES
ADVISORY SERVICES
Engage our experts at a fair hourly rate. We can share our expertise on a wide range of topics, including air cooled mining, immersion mining, overclocking, operating systems, antivirus, local area network management, internet connectivity, miner procurement, profitability, wallets and custodianship, dielectric fluid, dry coolers, heat plate exchangers, glycol loops, and more.
LOCATION SOURCING
Think you've got a location for crypto mining? We can consult on such topics as lease agreements, landlord royalties, power transmission lines, transformer placement, medium voltage switchgear, voltages, amperages, line capacity, and negotiating with the power utility company. We can also help with site layout and sizing for power vs. sizing for physical space and density.
EQUIPMENT SELECTION
Overwhelmed with research? Let us help you to make sense of brands and models of mining hardware, vendors, software applications, fluids, dry coolers and evaporative towers, subsurface radiation, pumps, breakers and power distribution, chip temperature monitors, automation, and comparing vendors relative to the cost to mine a single coin.
ANNOUNCEMENTS
WHAT IS BITCOIN MINING?
Bitcoin mining is a system that both verifies transactions on the distributed ledger, and secures the ledger against fraudulent transactions. Let's explore!
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When one person sends another person Bitcoin, that creates a transaction.
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These transactions are grouped together to form a block. The block is created automatically by the Bitcoin algorithm, and sent to the network (the whole world). Miners, which are specialized computers, all race to solve a mathematical puzzle that was attached to the block. The puzzle is extremely difficult to solve, but once it is solved, it is very easy for the algorithm to confirm that the solution is correct.
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Now, a few things happen. The solved block is verified by other miners who solve the puzzle as well, just not as fast. Once 100 miners have solved the puzzle with the same answer, the answer is accepted. The accepted puzzle solution now allows the algorithm to write the transaction block to a distributed ledger, called the blockchain. The miner that got the solution first receives compensation in two forms. First, they receive the block subsidy, which is a payout in Bitcoin, currently 6.25 coins. They also receive transaction fees from the transactions in the block.
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Here's where it gets really fun. The Bitcoin algorithm allows blocks to be solved about every 10 minutes, so that a predetermined number of blocks are solved every 4 years. If too many miners are at work each day, the blocks get solved faster than the algorithm intended, and vice versa. If the blocks get solved too fast, the total number of blocks solved won't take the full 4 years, so Bitcoin's algorithm hits the brakes on the network speed. It does that by increasing the difficulty of the puzzles, so they take longer to solve.
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The importance of the 4 year interval is that they coincide with special events called halvings. After a halving, the block subsidy is cut in half, like from 25 to 12.5 to 6.25, etc. All the Bitcoins in circulation were minted as block subsidies. At the beginning of Bitcoin in 2009, mining produced gobs of seemingly worthless coins. Each halving creates a scarcity situation because the supply of newly minted coins cuts in half, which in turn serves to drive the price of the asset upward. Mathematically, the inflation of Bitcoin is a curve that reaches zero in the year 2140 when the last Bitcoin is minted.
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Right now the transaction fees are very small compared to the block subsidy, but over time those proportions will reverse. In fact, post 2140, all mining income will be generated from transaction fees.