Giga Whatt?

strangerarray (63)in #mining • 7 years ago

I stumbled across Giga Watt in a Bitcoin Magazine online article the other day and was intrigued.

Giga Watt offers “turnkey mining services or custom packages tailored to your needs: full range of mining services from equipment sales, maintenance and repair to private blockchain servicing.”

Now I’m not going to lie, I don’t know much about mining.

I am more of a higher level type of guy and look at things from a bigger picture perspective and then make evaluations based on that.

The details might not all add up and please let me know if you know something, but on the surface, this project looks sound.

From the Bitcoin Magazine article Giga Watt Token Seeks To Optimize Mining (stylizing and emphasis added):

“So what is Giga Watt?

In essence, it’s a crypto mining facility running on five megawatts of available power mining hardware with an additional 50 megawatts of power in development.

The facility is situated in Washington state northeast of the Grand Coulee Dam, the largest hydroelectric power producer in the United States, with a total generating capacity of 6,809 megawatts.

As a result of its proximity, GigaWatt has access to cheap, clean hydroelectric power at 2.8 cents per kilowatt hour.

This rate is significantly lower than the United States national average of 18 cents per kilowatt hour and below China’s national average of 11 cents per kilowatt hour.

According to CEO David Carlson, these low power costs mean that Giga Watt’s expenses average significantly lower than the market price.”

Now that is the type of setup that makes a difference in a company's bottom line!

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A few more key points from the article:

“Carlson’s original team constructed five mining facilities strategically positioned to catalyze Giga Watt’s ongoing expansion activities, three of which are part of the tokenization. The project’s development serves as a springboard for Carlson's long-standing vision around the democratization of bitcoin mining. It will be supported by investors purchasing a stake in the company's services.

It will also be supported by the WTT token purchasers who will hold the tokens like a membership that grants them access to the facility. At present, retail customers of Giga Watt can only mine bitcoin, Ether and Litecoin with their choice of equipment determining which mining pool they can use. The three pools that are currently available are Slush Pool for mining bitcoins, NanoPool for Ethereum and Litecoin Pool for Litecoin.

The goal is to capitalize on Giga Watt’s mining system which supports the infrastructure that runs and operates the equipment. This model creates optimal and available mining space where a person can buy in to gain membership. ”

Like all good crypto projects, we need to see the White Paper!

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I wouldn’t be doing my job if I didn’t give you a few things from the White Paper that stood out to me, but you wouldn’t be doing your job if you don’t read it first before making any decisions what to do with the information.

“WTT token is an Ethereum token representing the right to use the Giga Watt processing center's capacity, rent-free for 50 years, to accommodate 1 Watt's worth of mining equipment power consumption.

In fact it will be an Ethereum ERC-20 compliant, to be more specific.

“Tokens will be offered for 60 days starting on June 2, 2017 and ending on July 31, 2017.”

So you my dear reader, if this is something you’ve done due diligence on and is right for you, you still have time to take part.

The sale is capped at 30 million WTT tokens.

And lastly, “to ensure the advantage for the Token Launch participants, no listing will be placed on third party exchanges until all WTT tokens sold through the Token Launch are distributed.”

Lastly, some information from the Giga Watt website:

Giga Watt has developed Giga Pods which are a “proprietary groundbreaking solution” that solve for problems that happen within “large monolithic data centers”.

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These smaller facilities appear from the renderings to have a system of air cooling the mining rigs.

This system “takes advantage of the mining hardware's extremely high power density, avoids active cooling consumption, and saves power for high-efficiency mining.”

What are your thoughts on Giga Watt?

Stay interesting. Stay Strange.

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