Place/Date: Dubai, UAE - June 7th, 2022 at 10:00 am UTC · 3 min read
The team behind the Minto project reports that they’ve entered a new growth stage and from now on the token will be available on a new, one of the most popular blockchains in the world – Binance Smart Chain (BSC). They also explain what’s going to change for Minto token holders, and what it means for the future of the project’s development.
Just a reminder – Minto is currently operating on the HECO blockchain, its token BTCMT is traded on the MDEX exchange, and the project is a part of the F2Pool miner pool.
Minto representative noted:
“We’re grateful to our partners at Binance for the opportunity to join the global blockchain ecosystem. And we’re delighted that BTCMT token holders will now have even more operational options. The swiftness and popularity of Binance are offering us this chance.”
As the company explained, BTCMT token holders will be able to conduct the whole range of operations within the Binance ecosystem. The BTC earned during mining will be converted into BTCB, thus the mined BTC will be stored in one of the most reliable and popular blockchains.
Minto is also planning to install some of the project’s mining data centers in the Binance Pool, thus further increasing the shared capabilities for BTC mining.
Binance is a leading worldwide blockchain ecosystem and provider of cryptocurrency infrastructure with a range of available financial products, which includes the largest exchange for trading digital assets. The average daily turnover exceeds $2 billion.
Minto was founded by entrepreneurs with years of mining experience, with headquarters located in Dubai, UAE.
The combined power of Minto’s Bitcoin miners surpasses 1 million TH/s. And the amount of investments in the project is reported to exceed $60 million. The hardware mines Bitcoin, while every BTCMT token is backed by Bitcoin’s mining capabilities of 0.01 TH/s. Minto’s hash rate is verified by one of the largest mining pools – F2Pool.
The approach used to mine BTC by Minto is eco-friendly, as its data center is powered by a local hydroelectric power plant. Moreover, as a part of its strategy to minimize its carbon footprint, it plans to recycle old ASIC miners and upcycle their components.
Owning BTCMT is equivalent to owning the respective mining capacity. By staking BTCMT, token holders receive a daily portion of bitcoins proportionate to their share in computing power.
In April Minto revealed a new service called autofarming (also known as auto staking). It automatically converts BTC earned on staking into BTCMT tokens, thus increasing the principal amount of tokens staked. It means that the resulting returns on investments will increase significantly.
The closest analogy would be the capitalization of a banking deposit, where a percentage of the main deposit is added to it, further increasing its profitability.
Also in April, Minto’s hashrate was increased by 10% by connecting additional mining capacities to the project, which instantly increased the income of platform users by 10%. After that, the total Minto hashrate available to users has reached 55 PH/s.
Minto is based on the idea of making mining accessible to the common man. Having built a powerful mining infrastructure, Minto proposed an innovative concept of hashrate tokenization. Now every user can buy Bitcoin hashrate (a piece of a mining farm) in the amount they need, and get their first mining reward in just 2 days.
User preferences and needs are the main priority for Minto, which is especially proud of the fact that its technology allows users to start mining with any initial amount.