Mining City was once a stormy project in the market, bringing promising profits to investors. Although some still believe this is a potential project, others find evidence that Mining City is a scam project.
- What is Mining City?
- Overview of the Mining City project
- Mining City's mechanism of action
- Mining City's project development team and partners
- The unclear information of Mining City
- The main issues of the Mining City project that you need to know
- Assess the safety level of the Mining City project
1. What is Mining City?
Mining City is a project involved in the Bitcoin mining system. In essence, it is Mining City that acts as an intermediary and provides mining services. With the purpose of helping users can conduct mining, increase Bitcoin mining performance based on equipment, technology, and maintenance from other parties.
In addition, it is difficult to assess the credibility of the project. Finding information about this project in the world is still quite fuzzy because there are no written documents, as well as any press releases about this project. Meanwhile, community information denouncing the project as a scam or fraud is quite common.
2. Overview of the Mining City project
Here are some important information about the project, updated to the present time.
- The official domain name of the project is https://miningcity.com/en/
- Registration date: on August 23, 2003
- Expiration Date: August 23, 2025
- Updated date: on December 29, 2020
- The representative of the project is Registration Private
- Phone number: +1.4806242599
- Address: 14455N. Hayden Road, Scottsdale, Arizona, in the US
- Email: email@domainsbyproxy.com
Mining City started its presence in Vietnam in May 2019. And the project is rated very "hot" in Asian countries such as Malaysia, Korea, Japan...
However, you need to learn more about the project before deciding to register to use Mining City's services. Besides the issue of reputation, safety, risk of scam, the market is downtrend without stopping, so investing in this service may not really have potential.
3. Mining City's mechanism of action
Mining City is currently a project specializing in selling Bitcoin mining service packages. It is simply plans with different capacity depending on the amount of money spent. Therefore, the computing power and efficiency of the packages are not the same.
Mining City's service packages help customers who do not own any equipment can still conduct Bitcoin and Bitcoin Vault mining. Mining City does not sell you mined cryptocurrencies, but a mining service (hash power) that makes mining efficient.
Although, the Mining City side said that they own Bitcoin mining workshops in Kazakhstan and China - countries with relatively cheap electricity prices. However, in fact Mining City is just a big partner of MineBest.
Why are we mentioning this company? This is a customer who buys Mining City service packages for Bitcoin mining. However, MineBest is the company that owns Mining City's mining rig. That means that customers cannot directly rent or invest in MineBest, but must go through Mining City. It can be said that Mining City plays an intermediary role and is also an important link in this activity.
4. Mining City's project development team and partners
Mining City's development team
Currently, information about the project's development team is only public information of CEO Gregory Rogowski.
- Gregory Rogowski was a Director at Ubisoft (from 2011 to 2015).
- He was also a famous game publisher in the world with titles like Rainbow 6, Resident Evil 4 and Far Cry...
- Gregory Rogowski also held the position of Marketing Director of Agora SA - the leading media company in Poland in the period 2016 - 2017.
- In 2018, he held the position of Vice President and was in charge of marketing for MineBest, the world's leading Bitcoin mining company.
About partnerships
Mining City's partners are also big players in the mining industry such as Bitmain, BTC.com, MineBest.
- Bitmain is a brand that is not too strange in the mining world. It is the largest cryptocurrency mining equipment manufacturer in the world.
- BTC.COM – The largest Bitcoin mining website in the world.
- MineBest is the owner of a lot of Bitcoin mining equipment and technology. At the same time, MineBest is also supplying and maintaining equipment and machinery for Mining City.
Mining City also cooperates with the Government of Kazakhstan to rent land and cheap electricity for 5 years and is protected by the country's military. This is essentially a cooperation agreement between MineBest and the Government of Kazakhstan and Mining City is a VIP partner of MineBest.
5. The unclear information of Mining City
The project always displays photos, massive advertising campaigns showing the project's popularity in Korea, Japan... However, it's only one-way information from Mining City, but no information can be found. from other units from Google.
Currently, for the Mining City project, there is still the problem of insurance of investments? If the project collapses, who will stand out to deal with the risks for investors? This is the general reality of projects on the cryptocurrency market and the Mining City project. All investment decisions of investors face the risk of fraud and loss of money.
6. The main issues of the Mining City project that you need to know
Currently, the Mining City project has some key issues you need to know:
- Receive Bitcoin Daily: Although the project has stated that investors can fully receive daily interest with BTC (on the 11th day from successful package activation). However, according to the latest reviews on Trust Pilot, many users have had negative comments reflecting that they cannot withdraw money and Mining City scam.
- Global coverage project: Although it claims to reach out to communities around the world, in fact, Mining City only focuses on operating in Asia.
- Transparency: Users can't find much information about the project on Mining City's official website. This limits the user's ability to access the project, as well as shows a vague sign of the transparency of Mining City.
- Certification license of Kazakhstan. Mining City side announced that there is a mining factory in Kazakhstan, but according to confirmed information, it is a certificate for MineBest.
7. Evaluation of the safety level of the Mining City project
So in the end Mining City is a scam project or not?
Previously, despite "signs" of operating under a multi-level model and lying about certificates, the project still paid Bitcoin regularly to users. However, from the end of 2021 until now, there have been many users who have labeled Mining City as a scam, accusing this project of not paying the mined BTC to users. Signs of fraud are more and more obvious, as the number of people standing out to expose Mining City is increasing.
Moreover, the information about the project is not updated. In addition, the Philippine SEC agency also warned investors that this project is completely unregistered with the Commission and operates without a license. Mining City also does not have any investment contracts. That further confirms the fraud of the project as well as the huge risk for investors.
In the market, rug pull cases or scam projects based on Ponzi scheme, stealing investors' money, have become quite common. Typically, Bitconnect, Bitclub, Plus Token…Through the above information, perhaps you have seen the essence of Mining City and have made your own judgment.
