Bitminer Factory – Co-Locating Cryptocurrency Mining Operations and Renewable Energy Projects
The blockchain revolution is a disruption that is consuming as much energy as an entire country the size of Peru, Israel, or Portugal.
Bitminer Factory, based in Italy, aim to make blockchain operations sustainable with renewable energy projects “while sharing the benefits with token holders.”
Bitminer Factory is currently conducting a pre-ICO, with its main ICO beginning on July 21st, 2018. The project is managed by a team of clean energy and cryptocurrency mining experts. BMF tokens will be used to access Bitminer Factory’s mining assets and services, as well as providing a return for investors. The ICO will end in September when the BMF token will become listed on cryptocurrency exchanges.
The founders of the company have 50 years of experience in construction, oil and gas and renewable energy and Bitminer Factory already have 1000 machines for mining cryptocurrencies, with operations in three countries, and more than €3 million euros in revenue generated. It is the largest industrial cryptocurrency mining operation in Italy. Bitminer Factory’s Bosnian operations will be placed with a local partner in the country which already has yearly revenue of over €300 million euros.
The ICO takes the Bitminer Factory project to the next step, allowing individuals to participate in the project by purchasing the BMF token.
“It’s a mining contract, that allows anyone to benefit from the production of our mining and renewable energy plants.”
According to Bitminer Factory and its whitepaper the BMF tokens will provide:
- A low operating risk, provided by a highly experienced team with over 1,000MW of renewable energy projects and 1,000 miners up and running at its flagship mining farm in Calenzano, Italy
- High liquidity, holders can easily trade or sell tokens back to Bitminer Factory via a BuyBack Plan with their tokenized “Mining Contracts”
- Low financial risks, arising from larger scale mining operations, reduced volatility, and a mitigation effect from self-generated clean electricity produced by renewable energy projects
Bitminer Factory describe its greatest strengths as team experience in the sector, high liquidity, and the potential economies of scale available to large cryptocurrency mining facilities co-located with renewable energy projects or with access to low electricity prices.
The Technology Behind the Project
Bitminer Factory is developing commercial mining solutions employing GPUs and ASICs in large-scale projects including “gigapod” housing of up to 5,000 mining units or containerized mobile mining units (MMUs) with up to 300 mining units.
“We are developing Alternative Mining Solutions (AMS) as well, based on FPGA. We are developing dedicated electrical infrastructure to operate the mining equipment along with renewable energy projects.”
The startup is also creating dedicated IT services to allow token holders to monitor mining operations and automatically switch to the most profitable mining algorithms.
The ICO will end on September 30th, 2018, after which the BMF token will listed on exchanges and proceeds from the ICO will be invested in mining operations set to be up and running by the end of 2018.
During 2019 “alternative mining solutions” and “optimal mining services” will be developed, and further token sale campaigns will be initiated.