Miner One Aims to Become the World’s Largest Crowdfunded Crypto Mining Operation
| Updated by Sofiko Abeslamidze · 3 min read
Miner One deploys the crowdfunded mining operation to disrupt cumbersome process of cryptocurrency creation by delivering ultra-low energy costs along with high-level security solutions.
Blockchain is an interactive technology that mostly relies on participation. The very essence of the blockchain is a seamless peer-to-peer cooperation all around the world, and one of its key features is the continual verification of transactions. Participants receive a certain amount of newly generated cryptocurrency after the transaction is validated. This is how cryptocurrency mining works.
However, the process of cryptocurrency creation requires high-powered equipment that is very energy-consuming and therefore expensive to perform at home. With more than two decades of experience in operating top-of-the-line data centres under its belt, Miner One are ready to offer crypto enthusiasts a beneficial solution.
In the recent times, the company has launched a new bitcoin mining project that raises money to build mining centers on behalf of the Miner One Community. The members of Community, who have contributed to the project, will share their output transparently and equitably by the means of Ethereum-based smart contracts.
Miner One promises its members on average 37% increase in profit as the startup spends 50% less on electricity and 15% less on hardware.
To provide maximum mining efficiency, the Miner One Management Team obtains cutting-edge technology at wholesale prices and locates the first mining center in the Swedish town Luleå. Given mining hardware requires lots of power and generates lots of heat, the terms of Northern town are perfectly suit for mining due to electricity supply stability, internet connectivity, and a climate that keeps cooling costs low.
Joining the Miner One Community is easy: it becomes possible by acquiring one of 350,000,000 MIO Tokens that will be distributed during the upcoming Crowdsale, starting on February 15, 2018.
As reflected in the Miner One White Paper, more than 77% of Miner One output, with correction for basic operating costs including electricity, is distributed to all MIO Token Holders. The team is going to re-invested about 23% of collected funds into development of mining hardware to keep Miner One mining centers updated.
At the press time, the project’s online queue has been enlarged with 6041 community members that have already signed up for the waiting list of the crowdsale.
Pranas Slušnys, Miner One CEO, stressed company’s decision to extent MIO Tokens validity for the entire life of Miner One operations rather than only two years as in the previous White Paper.
According to team’s statement, Miner One has a stamina to develop a long-term project based on trustworthy relationships with Miner One Community Members. If successful, Miner One expects to become the world’s largest crowdfunded cryptocurrency mining operation, with exponentially more output to share with MIO Token Holders due to improved economies of scale.
Sofiko is a freelance fintech copywriter at Coinspeaker.
With a Bachelor degree in International Business and Economics, Sofiko has been deepening her knowledge of an agile innovative industry primary focusing on the robust blockchain technology and cryptocurrencies. As a bank employee, Sofiko particularly keens on crypto and blockchain integration into the established banking systems.