Place/Date: Austria - October 13th, 2017 at 1:08 pm UTC · 3 min read
Contact: Philip Dimitrov, Source: HydroMiner
After a successful pre-sale that raised 1,500 ETH in just 36 minutes, HydroMiner is starting its public token sale on October 18th, 2017, at 10.00 UTC (12.00 Central European Time).
Since their successful pre-sale, HydroMiner have fine-tuned their token sale model to ensure compliance with all relevant Austrian legal regulations. They are currently incorporating as Limited Liability Company in Austria.
“We are happy to have found a capable legal partner in Dr. Oliver Völkel of the Stadler Völkel law firm. ICOs are unchartered territory and it is difficult to navigate the landscape of regulations and legal and tax frameworks. It’s important for us and our community to have the token sale stand on solid legal ground” said Nadine Damblon, CEO of HydroMiner.
HydroMiner is one of the first ICOs based in Austria. HydroMiner’s goal is to bridge green energy with crypto mining profitability. HydroMiner was launched in 2016 by sisters Nadine and Nicole Damblon, who quickly grew a mining operation from their apartments into a large-scale mining operation, consuming electricity from carbon-neutral hydro-power stations in the Austrian Alps. The Damblon sisters realized that the most lucrative price for electricity is available when you are next to the source generating it.
Austria has been on the forefront of the focus on renewable energy. Among countries in the European Union, Austria leads the pack when it comes to the percentage of electricity it generates from renewable sources. At present, more than 670 run-of-river power plants and some 1,800 small-scale hydro power stations are in operation, which generate approx. 60% of Austria’s electricity needs.
For crypto mining, utilizing hydro power has major advantages. Not only does it offer cheaper energy, but it also saves money on cooling, because the water from the river is used. Finally, using renewable energy lowers the carbon footprint of the mining operation.
Eco-friendly Cryptocurrency Mining in the Austrian Alps
At the moment, HydroMiner operates in two hydro power stations near the Austrian capital of Vienna. The founders of the project are now working on expanding the mining capacity by renting more hydro power stations. To finance this expansion and let investors participate in the mining business, a token sale is planned for early October.
HydroMiner Token Sale
On October 18th, 2017 HydroMiner starts the crowd sale of the H2O token, representing a voucher that can be exchanged into mining time in 2018. Acquisition of the mining contracts will allow token sale holders to receive mining profits from a fully running mining operation.
H2O is an Ethereum ERC20-standard token that can be purchased with Ether. The complete details on the token sale are available at the official website at hydrominer.org.
What is Ethereum?
Ethereum is the next exponential leap forward in blockchain technology. While the Bitcoin blockchain is used to track ownership of digital currency, the Ethereum blockchain runs the programming code of any decentralized application.
The ramifications of this distinction are huge. Rather than being limited to a single use, like currency, Ethereum is used to create unlimited distributed applications.
This makes Ethereum much more valuable as a blockchain technology than Bitcoin and should result in an even higher valuation for a cryptocurrency built on the Ethereum technology, as stated even on a Bitcoin news page.
Token Sales based on Ethereum are an innovative, democratic funding mechanism. They work by creating new crypto tokens and giving them away in exchange for Ether, the crypto currency.