By
Mayowa Adebajo
April 15th, 2024
The new cryptocurrency startup aims to change traditional mining by using one of the most environment-friendly and efficient source of energy.
HydroMiner is a Vienna-based cryptocurrency mining company that wants to make bitcoin mining more profitable. Founded in 2016 by Nadine and Nicole Damblon, HydroMiner uses ecological energy resources derived from hydropower plants located in the Austrian Alps.
While being a clean and eco-friendly energy source, hydropower is also the most sustainable and productive kind of power, allowing HydroMiner to reach one of the lowest electricity prices in the region. Its current electricity bill is 85% lower than the average bill in Europe. Thus, the company gains a significant advantage over other mining firms, which utilize data centers that consume large amount of energy.
“We focused on mining using hydro power to build a cryptoworld that is based on an environmentally friendly way of mining. The best part is, this green way is also very profitable, since we are able to purchase the energy at a really low price, which can compete with Chinese and northern European ones,” said Nadine Damblon.
“While being part of the crypto-revolution, that is changing the world as we know it, we still manage to have almost no carbon footprint. So, the investor doesn’t need to choose between a rewarding and a responsible, eco-friendly mining business, we can offer both with our mining farms in the Alps.”
Starting tomorrow, investors will be able to participate in HydroMiner’s one week pre-sale, acquiring its H2O tokens at a discount of 25%. Contributors will be given an opportunity to earn monthly dividends in ETH currency. The minimum investment is 50 ETH.
On October 3, 2017, HydroMiner will launch an ICO that will last for four weeks with different bonus tokens, ranging from 20% to 5%. The proceeds will be spent for the company’s further expansion as it plans to buy additional hydropower stations. Announced a few days ago, the crowdsale will enable investors to share in HydroMiner’s mining profits via the blockchain.
HydroMiner provides a fair and transparent way to take part in the revenues of bitcoin mining. H2O tokens will use smart contracts to distribute the profits generated by the coins mined at hydropower stations. Each token represents one watt of power and gives the rights to the net proceeds of one watt of mining profits. By offering rewards per watt instead of per hashrate, HydroMiner will distribute mining profits evenly among all investors.
“We believe this represents a much better approach than the usual method of paying per hash-rate, as the power of networks increases continuously and proceeds based on hashes can erode very quickly,” the company said.