What is cryptocurrency mining, you would ask, and how can you make money out of it? Cryptocurrency mining is one of the most commonly used methods of validating transactions that have been executed over a blockchain network. Not only does blockchain work to protect transaction data through encryption, as well as store this data in a decentralized manner (i.e., on hard drives and servers all over the world) so as to keep a single entity from gaining control of a network, but also the primary goal is to ensure that the same crypto token isn’t spent twice. In effect, “mining” is one means of making sure that cryptocurrency transactions are accurate and true, such that they can never be compromised in the future. Cryptocurrency mining itself refers to a type of validation model known as “proof-of-work” (PoW). There are two common validation types, and we’ll look at the other, known as proof-of-stake, in a moment. In the PoW model — which bitcoin, Ethereum, Bitcoin Cash, and Litecoin use, to name a few — individuals, groups, or businesses compete with one another with high-powered computers to be the first to solve complex mathematical equations that are essentially part of the encryption mechanism. These equations correspond to a group of transactions, which is known as a block. The first individual, group, or business that solves these transactions, and in the process validates the accuracy of these transactions within a block, receives a “block reward.” A block reward is paid out as digital tokens of the currency that’s being validated.
Batmine is a new ICO based on mining cryptocurrency and they will open a professionally built and operated crypto-mining center in the European Union, with very fast hash power and lowest energy usage cost available. The jurisdiction has safe environment, abundant low-cost green energy and excellent taxes. The farm will have up to 10000 mining units, housed in environmentally and economically optimized locations with climate control. The energy cost is on average 0.04 Euro per kilowatt/hour, which is not bad, and they are expecting up to 55 TH per second. The profit will be distributed monthly for the next 10 years. The numbers seems to be good enough, but there is still the issue of seeing them working in the real life situation.
What do we know about the token?
Token name: BATM
Accepted cryptocurrency: ETH
There is a token gifting program, giving 750 BATM for every Ethereum invested, and the unsold tokens will be burned.
Hard cap: 19 millions Euro
Soft cap: 1 million Euro
Time for the ICO: starting from 2.01.19 until the end of March
Bonus Program: 2.01,19 Private investors round
February -Whitelist registration
March -Whitelist round 20%
March -Crowd-sale round 10%-5%-3%-0%
All the tokens will be locked through the whole period of the ICO or until the hard cap is reached with 15 additional days added. An investment agreement will be signed and all of them are completely transferable.
Let’s look a bit at the ICO timeline.
Q4 2017 -The conception of the ICO, market research into ICOs and legal options of profit sharing. Verification of Silent Partnership framework with the Czech National Bank;
Q1 2018 -Market research, concept brainstorming;
Q2 2018 -Project concept formulation, market research, profit sharing concept, first ICO draft;
Q3 2018 -ICO preparation, Whitepaper, investment agreement, website;
Q4 2018 -ICO finalization, preliminary contact with institutional investors;
Q1 2019 -ICO execution
Q2 2019 -Location, electricity connection, equipment purchase, mining units installation;
Q3 2019 -Mining units installed and mining, first profit sharing.
So it is not too long to wait until all this is up and running.
Batmine token allocation will be as per following:
- bounty, airdrop, advisors 10%
- team 5%
- public sale 40%
- private sale 30%
- reserve 15%
Batmine funds allocation after the sale:
- operations 10%
- farm construction and mining units, plus the first year reserves 60%
- research and development 20%
- marketing 10%
Batmine profit allocation will be done as per following:
- company development and team rewards 17%
- hardware repair and replacement 33%
- profit sharing for silent partner investors 30%
- hardware development 20%
The only part that can raise difficulties will be a prolonged bear market and this can be solved if they will mine the cryptocurrencies with bigger potential of the market. You should also realize that over the next 10 years the mining difficulty will increase, leading to less profit as time goes by.
You can find more information about it on their telegram channel https://t.me/batmineico .
Hope you find this interesting! Have a nice day!
(This article was created in exchange for a potential token reward through Bounty0x. Username: Heruvim78)