‘Eco-Friendly Mining’: HydroMiner’s Pre-ICO Sells Out in 36 Minutes

Updated on Jan 31, 2020 at 8:35 am UTC by Polina Chernykh · 2 min read
Photo: HydroMiner / Twitter
Photo: HydroMiner / Twitter

After successfully completing pre-sale, the company is preparing for an ICO to enable investors around the world earn dividends from its mining returns.

HydroMiner, a cryptocurrency mining project using green energy in its facilities in the Austrian Alps, has reached the market cap of 1,500 ETH in less than one hour of its public pre-sale. Launched on September 25th, the pre-sale was planned to be open for a week, but all the 187,500 H2O tokens were sold out within the first 36 minutes.

Everyone who participated received a generous 25% bonus to the amount of H2O tokens that they purchased on top of the profits from the mining contracts that the tokens represent. The H2O tokens were sold at a 50 ETH (approx. $10K) minimum investment.

HydroMiner CEO, Nadine Damblon, said: “We saw quite an increase of our visitors and newsletter subscribers – but still, we didn’t expect such a quick sell off!”

HydroMiner is one of a kind mining farm using renewable energy derived from hydro power stations in Europe’s Alps, where the price of electricity is around 85% lower than that of other European regions.

By using hydro power, the company not only reduces electricity prices, but also provides high returns on the equipment used. Besides, it is one of the most efficient and clean energy sources, which helps to minimize carbon footprint and overall impact on the environment.

All the mining equipment is built inside standard sea freight containers that can be easily assembled and shipped. The company uses a proprietary cooling technology to ensure the highest levels of equipment performance.

Today, the company has two fully-operational mining farms, but plans to acquire additional facilities following an ICO. The funds will also cover the costs of hardware, people and rent of the whole operation. Currently, the average cost for one fully equipped container is between 350.000 and 650,000 USD, depending on the hardware used and the cooling technology.

The main crowdsale will begin on Monday, October 3, 2017, and will last for 4 weeks. The buyers of H2O tokens will be able to receive bonuses:

  • 20% – 1st week
  • 15% – 2nd week
  • 10% – 3rd week
  • 5% – 4th week

The buyers of H2O tokens will be able to receive a share of the mining rewards each month in ETH currency. According to HydroMiner, given the current difficulty and price rate, one can expect a ROI of about 72%.

Notably, the profits are based on the watts, with each token representing one watt allocated to the mining equipment. This makes HydroMiner different from other mining companies, whose revenues are based on hash rates.

Bitcoin News, Cryptocurrency news, News, Token Sales
Polina Chernykh
Author: Polina Chernykh

Polina is an undergraduate student at Belarusian State Economic University (BSEU) where she is studying at the faculty of International Business Communication for a degree specializing in Intercultural Communication. In her spare time she enjoys drawing, music and travelling.

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