Profitable, green and energy-efficient mining in a single H2O token, offered by HydroMiner
Cryptocurrency mining is well known for its high energy consumption. An Austrian venture called HydroMiner wants to tackle that problem by using eco-friendly energy sources.
What makes HydroMiner special?
Launched by two sisters Nadine and Nicole Damblon, HydroMiner rents hydropower stations in the Austrian Alps to get directly to the source of green energy. The cost of electricity ranges from 4,25 to 4,5 cents in USD, which is 85% cheaper than elsewhere in Europe. The combination of the factors such as low cost of electricity, the high energy supply output (cost-efficiency) with low carbon footprint and utilization of the eco-friendly energy (energy-efficiency) have caused HydroMiner to be a succesful operation. The ongoing ICO that the company has opened this week is an important step to further scale up the business.
HydroMiner ICO details
HydroMiner is issuing H2O tokens as digital vouchers that can be exchanged for the mining time at its facilities. One of the farms is base in Schoenberg, Lower Austria, and the other one is about to be deployed in Waidhofen a der Ybbs, where sea-freight containers are currently being equipped with the graphics cards. The 25 million H2O are available for purchase since October 18 at the rate of 0,01 ETH for one H2O token. Each token has the value of 5 kWh that can be exchanged for mining time to mine specific cryptocurrencies or a selection of tokens. The mining contracts last for 24 months during which the token holders receive daily payouts for storing the tokens plus the profits derived from mining.
In the first 30 minutes since the ICO was opened, it has reached the soft cap of 1,500 ETH. The tokens allocated for the early investors during the pre-ICO that began on September 25 were sold out in 36 minutes.
So far the company sold over 600,000 H2O tokens raising over 5,000 ETH at the time of writing.
— Crypto Coin News (@TodayCrypto) October 21, 2017
A great benefit of the early participation in the token sale is the bonus system. Purchasing tokens during the first week will present the participants with the 20% bonus H2O tokens. With the following weeks the bonus will decrease to 15%, 10%, 5% and 0% accordingly with the following weeks. The bonuses are viable even in case the token holder decides to renew the mining contract, which is possible every two years.
According to its roadmap, HydroMiner will make the activation of the mining contracts available from February 2018. The token holders will decide for themselves when, where and how they’ll use the tokens. One of the options is to keep them in order to receive daily payouts. The other option is to trade them on a cryptocurrency exchange, which will be popular due to the tokens’ limited supply. The third option is using the tokens as mining contracts that allow the users to take advantage of the HydroMiner facilities for a period of time defined by the number of tokens and to consume an amount of power in kWh defined by the quantity of the tokens and the value each of them represents. It is up to the user to pick one of several among the offered tokens.
How is profitability achieved?
The profitability of mining no matter where it’s done largely depends on the accessibility of cheap energy and its permanent supply in huge quantities. According to the Austrian law, the closer you are to the source of electricity the cheaper it costs, as it spares you from the transmission tax. The HydroMiner facilities are therefore based inside or right next to hydropower stations. The energy output of such stations is extremely high, which covers the requirements of the crypto mining.
The H2O tokens backed by kWh achieve higher profitability compared to crypto mining contracts bound to hash-power that increases in accord with the mining difficulty which affects the returns negatively. The algorithm that HydroMiner utilizes allows defining the most profitable token to mine at the exact moment and switches accordingly. Additionally, the company’s ICO page has an ROI calculator allowing the token holders to define their profits.
Use of collected funds
Following the pre-ICO that started and finished on September 25, the HydroMiner team proceeded to install its second facility in Waidhofen an der Ybbs where the farm is being placed next to a hydropower station in a container filled with mining GPUs. The new graphics cards have also been ordered for this purpose. HydroMiner has recently hired a person based in South East Asia to take care of the constant supply of the GPUs as they get outdated and sold-out extremely fast.
Under a year’s time, HydroMiner plans to launch 5 more farms in various locations in Austria in close proximity to Vienna. Based on the company’s experience in the previous years, a farm supplied with hydropower takes less than 12 months to get profitable.
The project and its team are extremely transparent, they update the community on its milestones and news or changes as well as inviting anyone who’s interested to visit the farm and meet the team personally. There’s even a video about it on YouTube.
ICO regulated under Austrian laws
HydroMiner is a limited liability company registered in Austria that complies with all the laws and regulations of this country including the sales and the management of its H2O tokens. The H2O tokens are not considered as securities and are not subject to VAT, however, their purchasing will require the investors to whitelist themselves by providing their email and ETH address.
How to buy H2O tokens?
The most accurate information about the H2O token sale is available here. The screen steps will guide you through the process. You can contribute to the ICO and purchase the H2O tokens with ether. During the first week ending on October 25, you will receive a 20% bonus. Following the token sale, the tokens will become available for trading on exchanges. In February 2018 they will be available for swapping to mining contracts. Simply holding them in your wallet will also enrich the token holders with daily payouts.
HydroMiner is a cryptocurrency mining farm based on green energy derived from the hydropower stations.
To learn more about HydroMiner please visit hydrominer.org
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