ETHernitymining is cryptocurrency mining project that relies on renewable and eco-friendly energy sources to power mining hardware. The company is working with a mining rig manufacturer from South Africa, in exchange for discounted prices when buying the hardware in bulk. As a result, this investment guarantees maximized profits due to reduced expenses.
The name ETHernitymining is a combination of two terms; Ether and eternity mining. As the name suggests, this project will primarily focus on mining Ethereum. However, the software leverages a unique advanced algorithm to evaluate the market and provide real-time response on whether a more profitable coin is available. Essentially, it has an integrated arbitrage mechanism that can automatically switch to a more valuable cryptocurrency. ‘Eternity’ implies that this project will employ strategies that will ensure profitability throughout.
Problems Facing The Mining Sector
Excessive energy consumption and pollution go hand in hand; more power consumption results in higher environmental pollution. The recent hype around digital currencies has spurred a massive shift towards crypto mining, a process that demands high amounts of electricity. Hence, most of the profits from this venture often end up paying the resultant electricity bills.
Difficulties In Setting Up A Personal Mining Rig
Several factors are impeding individuals from installing mining rigs in their homes. These include:
- Pool fees – to start mining, investors have to join mining pools. Often, the fees are too high, and the profits are little since they are shared among members of mining pool.
- Annual profit depreciation – the ever-growing number of miners has potential adverse effect on the amount of profit.
- Price fluctuations – digital currencies are highly volatile, especially when put against fiat currencies. The conversion rate fluctuates regularly and without notice, making it a risky venture.
- Expensive hardware – manufacturers are taking advantage of the growing demand for rigs by increasing their prices.
Unprofitable Cloud Mining Programs And Scams
Due to the high cost of buying mining hardware, individuals are opting for cloud mining programs. Unfortunately, these programs give meager profits, and most of them are scams.
Green Energy: ETHernitymining will use energy from renewable sources, conserving the environment while saving money that would have gone towards electricity bills.
Alternatives for Home-based Miners: Miners who cannot afford expensive GPUs can buy ETM tokens which essentially shares to the mining project. By owning the tokens, they are entitled to a profit share form the mining venture.
Profitable Mining Program: As opposed to cloud mining programs, ETHernitymining does not issue leasing contracts or levy any fees. Instead, the profits are taken from ETM tokens.
The ETM is an ERC20 compliant utility token that operates on the Ethereum blockchain. The maximum supply of ETM tokens is capped at 150,000,000.
ETHernitymining will avail a total of 120,000,000 ETM for the token sale. The main event is allocated 100,000,000 ETM with early bird and presale phases receiving an equal share of 10,000,000 ETM.
Parameters Of The ICO
- Early Bird stages – closes on 15th April, 2018
- Presale – 16th April- 15th May, 2018
- Public Sale – 15th May – 31st July, 2018