CryptoSolarTech Finishes Successful €9 Million Pre-ICO with the Goal of Making Cryptocurrency Mining Energy-Efficient Like Never Before
CryptoSolarTech is a mining start-up that plans to design, build, maintain and operate solar mining farms. The Farms will be located in Seville (Spain), Taking Advantage of the favorable weather conditions for an energy efficient solar photovoltaic plant.
The project plans to create a photovoltaic (process of converting sunlight directly into electricity using solar cells) effect, according to the whitepaper the plants will generate 45,000kW of electricity with the help of 3,000 equipment's.
CryptoSolarTech Solution
Its estimated it will take 132 years to mine 21 bitcoins in existence, Mining using grid electricty consumes a lot of electricity as they search for the correct hash keys to make a bitcoin this might lead to a continuous power consumption over the years because of the correlation between mining difficulty and the price of bitcoin over the years.
CryptoSolarTech plans to take advantage of renewable to cut the costs and behind the scenes energy tax credits if they were to use solar panels to power their operations. the project will also benefit of connecting their panels to a power grid, giving them the ability to sell extra power to Respira Energia.
RESPIRA ENERGIA GUARANTEE AGREEMENT
It's worth noting that CryptoSolarTech has a 15 years power purchase contracts with Respira Energia, a company which has established itself as an energy marketer and works so that individuals and companies can obtain electricity at the wholesale market price, and with production origin of 100% CO2-free plants. View the Contract "here"
Management on the Ethereum public Blockchain
CryptoSolarTech plans to utilize the innovative features of the Ethereum blockchain especially the smart contract feature in the management of the project operations which include generation of start-up capital and start-up of the physical assets that make up the project.
CryptoSolarTech Token (CST)
Cryptosolartech is an ERC-20 type token that will work on Blockchain Ethereum.CST, is a holding digital asset that will show ownership of fraction. The project has minted 1260 million CST with a valuation of 1CST equals €0.10.
Details of Token Sales
CryptoSolarTech has just completed a successful pre-ico raising €8,859,679 which had a soft-cap of €983,733, the next phase will start on **** with a hard cap of €71,400,000. 1.260 million CST Tokens will be issued without the possibility of generating more Tokens in the future, and CST Tokens that are not sold during the ICO will be burned.
Price: 1 CST = 0.05 USD
Platform: Ethereum
Accepting: ETH, BTC, Fiat
Minimum investment: 100 CST
Soft cap: 983,733 EUR
Hard cap: 71,400,000 EUR
Country: Spain
Whitelist/KYC: KYC & Whitelist
ASSETS DISTRIBUTION
80% - Token Holders
15% - Team and Development
3% Marketing
2% Bounties
FUNDS DISTRIBUTION
80% - Development, Photovoltaic Plant, Land Acquisition, Acquisition of Industrial Warehouse and ASICS Acquisation.
20% - Pool platform development, Infrastructure, Licenses and Maintenance.
Conclusions
CryptoSolarTech can be a profitable project since cryptocurrency profitability is determined by the cost of electricity more than any other factor, Photovoltaic solar installation pools are cheaper than buying grid power, it makes sense to combine photovoltaic solar pools with mining operations.
References
GreenTechMedia. 2018. Solar-Powered Bitcoin Mining Could Be a Very Profitable Business Model. [ONLINE] Available at: https://www.greentechmedia.com/articles/read/solar-powered-bitcoin-mining-could-be-a-very-profitable-business-model#gs.TS6ADp4. [Accessed 14 May 2018].
INVESTOPEDIA. 2018. Is Solar-Powered Cryptocurrency Mining the Next Big Thing?. [ONLINE] Available at: https://www.investopedia.com/news/solarpowered-cryptocurrency-mining-next-big-thing/. [Accessed 14 May 2018].
Conserve Energy Future. 2018. Is Solar-Powered Cryptocurrency Mining the Next Big Thing?. [ONLINE] Available at: https://www.conserve-energy-future.com/mining-gets-help-from-solar-power.php. [Accessed 14 May 2018].
More about CryptoSolarTech
Homepage: https://cryptosolartech.org/en
Blog: https://medium.com/@cryptosolartech
Whitepaper: https://cryptosolartech.org/doc/cryptosolartech-whitepaper-en.pdf
Facebook: https://www.facebook.com/cryptosolartech/
Twitter: https://twitter.com/cryptosolartech
Youtube: https://www.youtube.com/channel/UCQFnVdziC9bpU6z7UBhUyug
Reddit: https://www.reddit.com/user/cryptosolartech
Telegram: https://t.me/cryptosolartechEN
Github: https://github.com/cryptosolartech/smartcontract