Cloud Mining is the best choice for individuals who have no explicit knowledge to run cryptocurrency mining equipment or don’t want to run any in their home and deal with all the heat and noise generated by the miners.
But if we are not careful, there are many fraud cloud mining sites trying to scam people everyday. In fact there is much room for fraudulent activity in cloud mining compare to setting up the hardware at our own home. The reason is because it’s easy for companies to take people’s money and then suddenly, there will be no payout. A company can also claim to be a cloud mining company without any proof of actually owning any hardware.
Another problem is “transparency”. Cloud mining company will first offer a contract that enables us to purchase mining capacity on a per hash basis. This contract is vary from hourly to multiple years. The customers of cloud mining services then find that their contracts produce stable revenue only for the first few months or so, but as the difficulty of mining the cryptocurrency goes up, the hashrate earns less and less rewards. When a contract no longer turns a profit, the cloud mining service invokes a clause in the contract that allows them to terminate contracts unable to pay their fees.
HydroMiner is the first cryptocurrency mining company using green energy drawn from hydro power stations to run their mining equipment and maximize the use of water for their cooling system. Making it the most efficient cryptocurrency mining company with the lowest cost possible.
Since electricity is the major on-going cost of cryptocurrency mining, the price paid per watt will greatly influence profitability. That’s why HydroMiner will calculate the mining rewards per single watt. By issuing the rewards per watt instead of per hashrate, HydroMiner will generate and distribute mining rewards in a fairer way.
Let’s make a simple calculation of mining profits using different cost per KW/h (the calculations are using Etherscan Cloud Mining Calculator. For illustration purpose only):
- The calculation below using electricity cost per KW/h in Germany ($0,29):
- The calculation below using electricity cost per KW/h of HydroMiner hydroelectricity power station in Schönberg, Austria ($0,045):
- Take a look at the calculation below where Network HashRate nearly double: 180,819 GH/s, but HydroMiner’s revenue can sustain itself:
Since HydroMiner can save up to 85% of electricity cost for power consumption, the profit will sustain even after the increase of the network hashrate.
With lowest cost per watt, each 1 Watt (each H20 token) will worth more since it will result in more profit due to lower expense ratio.
Compare to other competitors, HydroMiner’s return would sustain itself despite the increase of mining difficulty.
HydroMiner solves the woes of cloud mining services by providing an honest mining service with the utmost transparency provided by its smart contract. It will strive to become as objective, fair and transparent as possible.
Currently, HydroMiner have one fully operational Hydro Power Station in Schönberg, Austria. And rented one power station in Murau. Everyone can schedule a visit to both stations by contacting the HydroMiner team.
Being fair means to let anyone participate in the cloud mining business. Therefore HydroMiner is hosting a token sale (ICO) for their H20 token on the Ethereum network. Each H20 is equal to 1 watt, which means investors will earn profit per watt instead of per hashrate. The ICO is going to be held on Tuesday, October 3rd, 2017.