Mining is a critical element of the cryptocurrency ecosystem that is essential to the function of many different cryptocurrencies. Bitcoin, the largest and most valuable cryptocurrency, is driven by the efforts of miners that dedicate processing power to solving complex equations to further the network.
Cryptocurrency mining, however, is extremely power intensive. While crypto mining is profitable, it requires a massive amount of processing power, which translates into an extremely high power usage. In order to mine more efficiently, many cryptocurrency miners combine their processing power together into mining “pools” that are able to solve blocks faster.
Cloud mining platforms take this concept a step further, and allow miners to “rent” the processing power they need to generate income from cryptocurrency mining via cloud based platforms. These services eliminate the costly investment in computing hardware required to mine cryptocurrency, and allow investors to generate significant profits without significant effort.
In this article, we’ll take a look at one of the more popular cloud mining platforms currently online, Terraminer. We’ll take a look at the Terraminer platform and find out what it offers to help you determine whether it’s worth considering as an investment.
What Is Terraminer?
Terraminer is a new cloud mining platform that offers investors the opportunity to generate up to three times their investment, and operates in a different manner than most of the cloud mining platforms online today.
Terraminer is currently launching an initial coin offering, or ICO. Terraminer offers tokens called TRM tokens, which represent the processing power of mining equipment. The Terraminer farm is powered by NVIDIA 1080TI GPU’s that run on electricity generated from a hydroelectric power station in Shaoguan, China.
Importantly, Terraminer offers detailed information about the registration of their company, and delivers a comprehensive breakdown of the management and development team complete with social media links. Combined with a detailed white paper, the Terraminer ICO is clearly a well constructed and trustworthy offering.
The Terraminer ICO
Terraminer offers investors the ability to access bonuses based on future projections of hardware capacity. A one TRM token investment in the ICO priced at 0.02 ETH, yields no return on investment, but an 85 TRM investment delivers a weekly profit of 0.003 BTC and a monthly profit of 0.013 BTC.
Purchasing 3,000 TRM in the ICO delivers a weekly profit of 0.155 BTC, and monthly profit of 0.663 BTC. Lastly, a post-ico investment of 100 TRM yields a monthly profit of 0.013 BTC, but doesn’t provide any ICO bonuses.
The Terraminer ICO is one of the most unique cloud mining services online, and is an interesting application of initial coin offering crowdfunding applied to crowd mining. If you’re interested in leveraging the profit generating power of cloud mining, Terraminer is definitely worth investigating.