HydroMiner is an eco-friendly cryptocurrency mining company that promises to pay you 60% ROI per year. Find out how HydroMiner works today in our review.
What is HydroMiner?
HydroMiner, found online at HydroMiner.org, is a cryptocurrency mining operation that uses hydroelectric electricity to power its miners. It also uses water-cooling to keep the rigs at a safe operating temperature.
One of the criticisms of cryptocurrency and blockchain technology is that they require enormous amounts of power to operate. Without cryptography, blockchain and cryptocurrencies lose their security. Unfortunately, breaking that cryptography requires lots of electricity, and much of that electricity comes from non-renewable sources.
That’s where HydroMiner sees an opportunity.
HydroMiner is currently seeking to raise money through an ICO for “H2O Tokens”. These tokens will be used to expand the hydroelectric capacity of HydroMiner’s operations.
How Does HydroMiner Work?
HydroMiner is based in Vienna, Austria. The company claims to place its mining equipment “directly in hydro power stations in the Alps region”, which allows them to enjoy “up to 85% lower energy prices than European average.”
Europe is one of the least miner-friendly regions in the world. Europeans pay high electricity prices, making mining not as profitable as it is in other parts of the world – say, North America, China, or any region with easy access to renewable energy sources.
In the Alps, however, the company has access to cheap hydroelectric power. They claim to have a guaranteed contract where they pay about 10 cents per kWh – which is about the average priced paid in North America for electricity.
HydroMiner claims to mine “all scalable currencies.” The platform chooses which currency to mine based on “software algorithms”. HydroMiner also jumps between mining pools.
Right now, the company is mining 40% ETH, 20% ETC, 20% ZEC, and 20% SC and others.
HydroMiner owns one fully operational hydro power station, with a second one rented. The hardware is scheduled for deployment on the second one in September. The first one is in Schönberg in Lower Austria, while the second is in Murau in Styria.
With further funding, HydroMiner wants to expand their operations in Styria while also branching into available power supplies in southern Germany.
In terms of the actual mining operations, HydroMiner fills shipping containers with mining rigs, then drops them close to the hydroelectric dams. The company uses water-cooling to keep its miners at a comfortable temperature while also enjoying cheap electrical costs from the dam.
You can view the company’s mining operations in action in a video posted on Vimeo here.
The HydroMiner H2O Token Sale
H2O tokens represent the right to net profits generated with one watt of energy from HydroMiner’s facilities (1 watt generates 0.158gh/watt).
It’s an ERC20-compliant token built on the Ethereum blockchain using a smart contract.
The company’s pre-sale is scheduled to launch on September 25, with the general ICO starting on October 9. The pre-sale is only open to Ether payments over 50 ETH. During the crowdsale, smaller amounts will be accepted.
The crowdsale is open to investors anywhere in the world except for the United States.
Monthly payouts to token holders are scheduled to begin on February 1, 2018. There will also be an ongoing sale from January 1, 2018 onward.
There’s a total supply of 100,000,000 H2O tokens. 0.01 ETH = 1 H2O.
Who’s Behind HydroMiner?
HydroMiner is led by CEO Nadine Damblon, who has been mining cryptocurrencies since 2015. Other key members of the team include Christian Vogl (CTO), an expert in hardware supply and network infrastructure, and Jonas Sevel Karlberg (one of the advisors for Bancor). LinkedIn profiles are available for all three individuals from the company’s official website.
HydroMiner is an environmentally-friendly, profitable mining operation based in the Alps. The miners rely on hydroelectric power and water cooling to create an energy-efficient, highly-profitable mining operation. HydroMiner has access to two hydroelectric power sources. Using money gathered from its token sale (for H2O tokens), the company hopes to expand into southern Germany while also boosting their current mining operations.
As an H2O token holder, you’re entitled to receive profits from the HydroMiner mining operation. Each token represents one watt of energy from the operation.
As far as we can tell, HydroMiner is legitimate. The company appears to be open and honest about its work online, and they have an extensive FAQs section, team page, and other information about their project. We don’t have the specific locations for any of the mining setups – although that’s not necessarily unusual.
To learn more about HydroMiner, visit the organization online at HydroMiner.org.