POS Mining Co is a cryptocurrency mining operation found online at StakePool.co. Find out everything you need to know about POS Mining Co today in our review.
What Is POS Mining Co?
POS Mining Co is a cryptocurrency mining company that is launching an ICO to buy more coins to stake with.
Unlike Proof of Work (PoW) mining, PoS mining requires lots of coins to stake with. POS Mining Co claims to already have the facility, the encrypted servers, and everything else needed for their mining operation. All they need is funds to buy coins to stake with.
POS Mining Co’s facility uses solar panel to account for about 45% of its electricity needs. The company claims its mining operation is based in Southern California (specifically, Ontario). However, we can’t find any images of the mining facility available online.
POS Mining Co is scheduling three rounds of ICOs. Reward payouts are starting as early as October 2017. The pre-ICO began earlier in September. The official ICO, however, starts in October 2017 and concludes at the beginning of December.
How Does POS Mining Co Plan To Make Money?
POS Mining Co is selling tokens that each represent the right to the staking power on the StakePool.co network. StakePool.co “uses POS mining along with masternodes to get the highest return on investments”, explains the official BitcoinTalk.org forum post.
The POS Mining Co ICO
The POS Mining Co pre-ICO began at the beginning of September. The pre-ICO will last for no more than 2 weeks, during which no more than 2500 ETH will be collected. The pre-ICO round is the only round with a 10% token bonus. During this round, 1 ETH = 2200 POS.
By the time the crowdsale begins, the rate will rise to 1 ETH = 3,000 POS.
To participate, send Ether to the address listed on stakepool.co/. You don’t have to have any special qualifications to take part in the pre-ICO. After contributing ETH to the wallet address, your POS tokens will be sent to your wallet within a couple of minutes.
POS token holders will be paid monthly based on mining earnings. 25% of earnings will go back into staking, 10% will be used to cover costs associated with POS Mining Co operations, and the remainder (65%) will be distributed to POS token holders every month.
There will be a total supply of 100 million tokens issued for the crowdsale, with a total of 125 million tokens minted.
The token itself is an ERC20 Ethereum token. Each token represents the right to staking power on the StakePool network.
The ICO ends on December 1, 2017.
Right now, POS Mining Co is holding Boscoin, Blackcoin, and OKCash in its current portfolio.
POS Mining Co Features
POS Mining Co advertises all of the following features:
- Infrastructure is already in place, and mining is ready to begin ASAP
- The first reward payouts will start in early October 2017
- Token holders can earn from masternodes and POS mining
- Redundant HVAC and power systems in the Southern California facility (45% of which is powered by solar energy)
- Energy-efficient POS mining
Who’s Behind POS Mining Co?
POS Mining Co is led by CEO Lawrence Fisher, who’s been working in cryptocurrency since 2013 after working in IT and the financial sector.
Other key members of the team include Kenneth Larson (Senior Advisor), who is currently running a private mid-sized POS mining farm. Dee Sanchez (CFO) and Roger Cunningham (Advisor) are also listed on the official website.
The company is based in Ontario, California. You can contact the company online by email at [email protected]
POS Mining Co Conclusion
POS Mining Co, also known as Stakepool, is a POS mining operation based in Ontario, California. The company is conducting an ICO between September and December, during which you can purchase a right to the staking power of the operation.
Ultimately, POS Mining Co appears to be a legitimate company. However, there’s very limited information about the company available online at this time. All we can really find is a Twitter and Facebook profile, a BitcoinTalk.org forum post (with no replies or further details), and a 6 page whitepaper. We would like to see more information about the mining facility in operation – like pictures or video of the space.
For now, POS Mining Co appears to be convincing users to send money to an ETH wallet with limited information proving the operation really exists. You may want to wait for more information to appear online before you start sending money to the Ethereum wallet address.