Scavo Technologies - Eco Friendly Cryptocurrency Mining
The popularity and demand for cryptocurrency is growing. With that comes the need for people to mine cryptocurrency. Scavo Technologies is developing an eco friendly cryptocurrency mining operation. As time goes by, the difficulty of mining a cryptocurrency generally increases. This causes an increase in electricity usage to mine the coins. Today, there is a huge amount of electricity being used to mine coins throughout the world. In order to be environmentally friendly, a green source of energy is needed. Scavo Technologies is located in Argentina, and they plan to build self sustaining mining locations using renewable energy such as solar, water, and wind.
Scavo Technologies is currently holding a token sale for fundraising. The token is an ERC-20 type of token. There are a number of benefits associated with being a token holder. Eighty percent of mining profits will be distributed to token holders with the remaining twenty percent being used for reinvestment into the operation including the purchase and maintenance of equipment. Scavo Technologies may also provide services to third parties. Thirty percent of profits from this may be distributed to token holders as well. Democratic decision making is important to Scavo Technologies, and holders of the SCAVO token will be able to vote on decisions with the use of smart contracts. The token sale started on July 15th, and will run until October 31st of this year. There is a maximum token supply of two hundred million tokens. Eighty eight percent will be offered for sale, with eight percent set aside for a reserve fund, two percent for rewards programs, and two percent for the team and founders.
The strategy of Scavo Technologies is comprised of three main aspects. The autonomous mining unit is a ready to mine unit with all the required hardware, an active and passive cooling system, it is ready to receive power, has an information control center for data management, and has video recording capabilities. This makes it easy to start mining for coins in a new location. Another aspect of their strategy is the energy generating unit. This will deliver power to the autonomous mining units by utilizing wind, solar, hydro power, or similar. Any excess energy created will be sent to the local energy company for monetization. Energy generating units will be very scalable and modular for ease of expansion. The third aspect to the Scavo Technologies strategy is a unified data center. This will manage all aspects of the mining farms. By creating their own power stations, they eliminate much uncertainty about fluctuation of electricity prices. It should also reduce costs and thereby increase mining profitability.
Scavo Technologies is going to be creating an environmentally efficient system for cryptocurrency mining that is sustainably for the long term. It is great to see them taking a long term approach to their business model. Cryptocurrency looks like it is here to stay, and with that comes the need for efficient cryptocurrency mining operations like Scavo Technologies. The team is also very experienced. To read more about their ideas and business plans, please be sure to see their website and whitepaper which are listed below.
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