Miner One and its MIO token aim to provide cutting-edge bitcoin mining based on a crowdfunding model. Find out how it works today in our review.
What is Miner One MIO?
Miner One MIO aims to crowdfund a bitcoin mining project. Using a crowdfunding model, Miner One aims to offer today’s most advanced mining equipment and low-cost electricity, leading to profits for everyone in the community.
The Miner One community managed by a team of data center industry experts. This team, in partnership with the community, will build mining centers and share the output of those centers transparently using Ethereum-based smart contracts.
The core management team is based in Lithuania, where they’ve already built and managed data centers for large corporations. The first Miner One center will also be based in the Baltics.
All members receive full access to regular, transparent, and complete accounting and reporting of all costs and outputs from the company. And, because Miner One has access to a large pool of fundraising, they can access wholesale prices on electricity and equipment.
The first Miner One mining center is scheduled to be built and deployed in Q2 2018.
With that in mind, let’s take a closer look at how Miner One plans to generate consistent profits.
How Does Miner One Work?
Miner One’s ecosystem revolves around the use of MIO tokens. These tokens represent your participation in a Miner One mining center. Given the usual lifespan of mining hardware, the validity of each MIO token is expected to last no more than two years.
Members of the Miner One community can purchase the Ethereum-based MIO tokens at any time. The more tokens you have, the larger your stake in the community will be.
In terms of profits, Miner One claims that a MIO token purchased for $1 USD today can provide resources for mining bitcoin worth $1.82 to $3.07 USD over the expected two year lifespan of a mining center. These estimates, however, are based at a price of $2000 to $3500 per BTC – much lower than the $10,000 to $11,000 price range in which it currently sits in January 2018.
The output of the mining center, minus electricity costs, is distributed to all MIO token holders. 30% of MIO tokens are set aside to cover management, staff, and maintenance costs. The remaining 70% are distributed to other community members. Therefore, participants, staff, and management are all part of the Miner One community. They all share an interest in the success of Miner One.
You hold your MIO tokens in your Miner One Wallet. This is a digital wallet and exchange. You can use it to buy, sell, and store MIO tokens. That wallet will also be linked to the Miner One Card, which can be used for payments and purchases directly from your Miner One Wallet.
The first Miner One mining center will be built near the location of an existing Tier III data center. The identified location has 3,000 square meters of space capable of accommodating 6,053 units of Bitmain AntMiner S9s with a total computing capacity of 84.742 TH/s.
Based on that hashrate, the first Miner One center is capable of generating approximately 16 bitcoins per day, based on the current difficulty, from the first day of operations.
Who’s Behind Miner One?
The Miner One management team has over a decade of experience in data center construction and management. The company built and operates one of the largest private data centers in the Baltics. They have also built and managed data centers in Tunisia, Russia, and Ukraine.
That team has also worked for companies like Telia, Barclays, and Microlink Group.
Key members of the team include Pranas Slušnys (CEO and Co-Founder). Pranas has 20+ years of experience in data center construction and management. He’s a serial entrepreneur who brings high level management experience to Miner One.
Other key members of the team include Andrius Mironovskis (Production Director and Co-founder) and Jonas Udris (Legal Advisor and Co-Founder).
The Miner One MIO ICO Token Sale
During the token sale, each 1 MIO is set a price of $1 USD.
A pre-ICO is taking place where you can purchase tokens at $0.50 apiece (50% off the normal price). Miner One is accepting Ethereum during the token sale. They have a soft cap of $5 million USD for the token sale, with a minimum goal of $1 million. The hard cap is set at $30 million.
There’s a maximum of 45,114,286 MIO tokens that can be created. 330 million are available during the invite-only pre-ICO.
The main ICO, meanwhile, starts on February 15. It’s scheduled to last 30 days – or until the soft cap is reached.
Of the total supply of tokens, 70% are available during the ICO and pre-ICO. The remaining tokens are allocated to the team, administration, and operational expenses (20%, automatically locked for 12 months by smart contract) and partners, advisors, ICO campaign costs, and the business continuity reserve (10%, also locked for 12 months by smart contract).
Miner One MIO ICO Conclusion
Miner One aims to create a crowdfunded mining system based in the Baltic countries (the company is headquartered in Lithuania). They’re conducting a crowdsale for MIO tokens that represent a stake in the mining operations of the platform. 70% of mining profits will be distributed to MIO token holders, while 30% will be used for ongoing operational expenses.
The token sale for MIO tokens is taking place throughout February and March 2018. You can buy tokens at a price of $1 USD.
To learn more about Miner One and the MIO token, visit online today at MinerOne.io.