Bitminer Factory ICO (BMF Token): Blockchain Made Sustainable

bdcoinmarket (25)in #bitminer • 6 years ago (edited)

“Bitminer Factory” idea dates back to November 2016, and their development since then has been huge, with their first mining factory, now the biggest in Italy, completed and fully operational since April this year, after twelve months of hard work and dedicated refinements. They started with the idea of regarding the cryptocurrency wave, and they have ended up being at the forefront of innovation in the field, leading the way to a sustainable process for mining cryptocurrencies. Some publications are starting to suggest that renewable energies are the future of cryptocurrency mining, and they will be among the first in realizing such a dream.

What We Get From BMF ICO

The Problem Bitminer Are Solving
Blockchain and mining have been on investors’ lips for the past few years, and they observed a huge spike in interest since 2017, along with the surge of the price of Bitcoin and other cryptocurrencies. Today, many think that Blockchain will revolutionize business and redefine companies and economies.

However, cryptocurrency mining, the significant architecture behind the Blockchain ecosystem is an energy-intensive activity and such as it comes likely with a large carbon footprint, which needs attention. In order to perform their tasks, miners need to execute computationally-intensive algorithms on the Blockchain using a plethora of high-tech equipment, such as customized microprocessors or specialized Graphical Processing Units.

As reported in several publications and online resources, the power required for worldwide crypto-mining activities has increased fivefold in less than a year, reaching an amount high enough to sustain the energy requirements of whole countries such as Peru, Portugal or Israel. This figure is growing exponentially and is expected to double in the next twelve months, up to 150 TWh/year, as much as the yearly energy consumption of the entire Netherlands. This trend is, clearly, unsustainable, but is deemed to remain due to the rising difficulty of mining operations and the increased competition in the field. Miners require energy for executing computations and for cooling their equipment, but most of them do not really pay attention to where they draw it from – they simply care its cost is low enough.

Bitminer Sustainable Solution Is Based On 4 Key Pillars

Committed usage of clean energy: they pledge to use an increasingly higher amount of energy from clean power sources, such as hydro and solar plants. They will place their decentralized mobile farming equipment close to eco-friendly sources, drastically reducing the amount of CO2 they would require if they used traditional energy plants;
Reuse of otherwise-wasted energy: energy plants all over the world, either renewable or not, often have energy left that is not used and goes to waste. They have set up partnerships that allow them to tap into these energy sources, minimizing the need for producing additional energy for their mining purposes, benefiting the environment while granting us a lower-cost power supply;
Flexibility through mobile mining units: their mining units can be simply moved around (think of them as “on-the-wheels” autonomous computing containers); therefore it will be easy for us to reach the plants that have the highest spare capability from time to time, or new intentionally built renewable power plants;
Diversification through Renewable Energy asset ownership: they will strengthen their position to achieve their goals. With 30% of the proceeds of the ICO, exceeding $20M, we will invest directly in the construction of Solar/Hydroelectric power plants. The 100% clean and renewable energy outcome will be used to directly power their mining equipment. Energy projects are capital intensive and require a significant scale: for this reason, they chose to invest in Energy projects only past the $20M mark, still maintaining our commitment to a greener mining solution if proceeds will be below $20M. Moreover, they will be able to sell energy to the national grid, generating an additional, stable stream of profits, to be used for our token-holder and for reinvestment in our operations.

BMF in Figures

Infrastructure
Finally, they have designed two proprietary housing solutions for their machines, Gigapod, to house up to 5000 units (GPU or ASIC), and Mobile Mining Unit (MMU), to house up to 300 units. We studied every detail of it in order to optimize:

COOLING AND RELIABILITY

Thanks to CFD (Computational Fluid Dynamics) analyses, we designed ample paths to allow air in and out of the Gigapod and of the MMU, while consuming just a fraction of the total energy. An advanced filtering system will allow air to pass, blocking dust or other contaminants, ensuring reliable operations in any environment.

COMPACTNESS

Each Mobile Mining Unit (MMU) can house up to 300 units (GPU or ASIC) in a compact footprint, while each Gigapod can house up to 5000 units. Furthermore, the MMUs can be moved cheaply and quickly, as they are based on standard containers.

MONITORING

A dense net of sensors are embedded in the Gigapods and in the MMUs, allowing our team to monitor performance, temperatures, power consumption, and state of each piece of equipment, thus letting us actively prevent and identify any hardware malfunctioning.

MAINTAINABILITY

Each machine is accessible easily and rapidly, allowing for prompt maintenance when needed. A detailed dashboard and clear labels/ indicators allow every operator to immediately locate the machines that need an intervention.

Operations Management

With the right equipment and the right infrastructure, it becomes the key to operate each machine in the most effective way. Their approach towards operations management is based on 3 pillars:

Leverage flexibility, especially by choosing the most profitable coins to mine at every point in time, as well as the best locations to move their mining rigs to
Employ predictive maintenance tools and absolutely minimize downtime aggressivamente i tempi di fermo macchina
Ensure scalability of the investment, to drive token’s value and sustained earnings
Renewable Energy Projects (Reps)

At Bitminer Factory, we are committed to:

Make the Blockchain sustainable, by using renewable energy for mining purpose
Deliver outstanding ROI to our Token Holders.
Renewable Energy Projects will strengthen our position to achieve both the goals above.

Their team is unique in allowing the delivery of such an ambitious pair: cutting-edge mining and custom-designed and built Renewable energy projects. In fact, among their founders, they have a total of 30+ years of experience building renewable power plants, for a total of 1000+ MWp installed in various continents.

Their Development Team will work on a web Dashboard to ensure we have 24/7 access to their Operations data. We will be able to monitor technical and financial performance. Through Dashboard, we will be able to manage our BMF Tokens, assess our mining contracts’ returns, trade our BMF or participate in our Buyback Plan. They want the functions that they intend to implement in their Web Dashboard to be available in an App as well.

ICO Structure Initial Contract Offering

Bitminer Factory is developing an Initial Contract Offering (“ICO”), whereby Mining Contracts are offered to their Clients (“Token Holders”). The “BMF” token, an ERC-20 token built on the ETH platform, outlines a Mining Contract between Token Holders and Bitminer Factory. Each BMF entitles the Token Holders to certain contractual rights.

TOKEN STRATEGIES

BMF Token Holders may benefit from the mining contract embedded in the BMF Token by Holding It, Trading It or participating in our Buyback Plan. Holders will benefit from yearly payouts in Cryptos that will be proportional to the amount of BMF; each Token Holder has in relation to the overall amount of BMF Tokens in circulation. BMF will be listed on selected Crypto-exchanges as well.

Token Allocation and Issuance

Use of Proceeds

What We Will Get From BMF Token

The chart below gives you the return of each BMF after one year of operation, depending on BTC Price. E.g., if after one year after the End of ICO BTC Price is $14,000, we expect a BMF yearly return of 191%, i.e. BMF will be priced at least 1.91$. In the following table, we computed the yearly payout for a Mining Contract (i.e. BMF) worth 100 a year zero, depending on BTC Price. A Yearly Performance Loss of 20% was assumed. E.g., if BTC Price will stabilize at $14.000 over the next 3 years, $100 spent on BMF Mining Contracts will be worth $455, 32 in three years’ time.