What is Bitminer Factory?
Bitminer Factory idea dates back to November 2016, and our progress since then has been huge, with our first mining factory, now the largest in italy, completed and fully operational since April this year, after twelve months of hard work and dedicated refinements. We started with the idea of following the cryptocurrency wave, and we have ended up being at the forefront of innovation in the field, leading the way to a sustainable process for mining cryptocurrencies. Some publications are starting to suggest that renewable energies are the future of cryptocurrency mining, and we will be among the first in realizing such a dream.
Our sustainable solution is based on 4 key pillars:
- Committed usage of clean energy: we pledge to use an increasiny-higher amount of energy from clean power sources, such as hydro and solar plants. We will place our decentralized mobile farming equipment close to eco-friendly sources, drastically reducing the amount of CO2 we would require if we used traditional energy plants;
- Reuse of otherwise-wasted energy: energy plants all over the world, either renewable or not, often have energy left that is not used and goes to waste. We have set up partnerships that allow us to tap into these energy sources, minimizing the need of producing additional energy for our mining purposes, benefiting the environment while granting us a lower-cost power supply;
- Flexibility through mobile mining units: our mining units can be easily moved around (think of them as “on-the-wheels” autonomous computing containers), therefore it will be easy for us to reach the plants that have the highest spare capacity from time to time, or new purposely built renewable power plants;
- Diversification through Renewable Energy asset ownership: they will strengthen our position to achieve our goals. With 30% of the proceeds of the ICO, exceeding $20M, we will invest directly in the construction of Solar/Hydroelectric power plants. The 100% clean and renewable energy outcome will be used to directly power our mining equipment. Energy projects are capital intensive and require a significant scale: for this reason, we chose to invest in Energy projects only past the $20M mark, still maintaining our commitment to a greener mining solution if proceeds will be below $20M. Owning custom-designed renewable power plants will allow us to achieve even lower electricity cost for
our operations, cutting out all the intermediaries between energy production and utilization. Furthermore, we will be able to sell energy to the national grid, generating an additional, stable stream of profits, to be used for our token-holder and for reinvestment in our operations.