Blockchain and mining have been on investors’ lips for the past few years,
and they observed a huge spike of 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 fundamental architecture behind the
Blockchain ecosystem, is an energy intensive activity and as such it comes
potentially with a large carbon footprint, which requires 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.
The first who can solve a specific problem on the Blockchain gets a
reward in Bitcoins (or whatever currency is being mined), hence the
rush in employing powerful machinery that can allow to obtain such
compensation.
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 continue due to the rising difficulty of
mining operations and the increased competition in the field. Miners
need 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. This leads to an
exploitation of existing fossil-fuel and other non-renewable sources,
regardless of the impact they have on the environment. The rising
price of cryptocurrencies makes the investments in mining increasingly
worthwhile and, as a consequence, increases the energy required to
perform such operations, fueling a vicious cycle.
Furthermore, the rising price of oil – and, in general, its volatility – could
unpredictably dampen the profitability of cryptocurrency investments,
whose net gain is heavily reliant on fuel cost.
Many prominent publications have started raising the alarm about the
dangers associated with indiscriminate energy consumption related
to cryptocurrency mining, and we will not let this cry for help go to
waste. The goal of our activity, therefore, is to make mining operations
sustainable, both in terms of the profitability of your investment and in
terms of environmental preservation.
Bitminer Factory idea dates back to November 2016, and our progress
since then has been huge, with our first mining factory, now the largest
in italy, completed and fully operational since April this year, after twelve
months of hard work and dedicated refinements. We started with the
idea of following the cryptocurrency wave, and we 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 we will be among the first in realizing such a dream.
Our sustainable solution is based on 4 key pillars:
- Committed usage of clean energy: we pledge to use an increasinglyhigher
amount of energy from clean power sources, such as hydro and
solar plants. We will place our decentralized mobile farming equipment
close to eco-friendly sources, drastically reducing the amount of CO2
we would require if we 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. We have set up partnerships that allow us to tap into these
energy sources, minimizing the need of producing additional energy for
our mining purposes, benefiting the environment while granting us a
lower-cost power supply; - Flexibility through mobile mining units: our mining units can be
easily 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 capacity from time to time, or new
purposely built renewable power plants; - Diversification through Renewable Energy asset ownership: they will
strengthen our position to achieve our 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 our mining equipment.
Energy projects are capital intensive and require a significant scale: for
this reason, we 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. Owning custom-designed renewable
power plants will allow us to achieve even lower electricity cost for
our operations, cutting out all the intermediaries between energy
production and utilization. Furthermore, we 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.
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.
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 our
mining equipment. Energy projects are capital intensive and require a
significant scale: for this reason, we 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.
Owning custom-designed renewable power plants will allow us to achieve
even lower electricity cost for our operations, cutting all the intermediaries
between energy production and utilization. Furthermore, we will be
able to sell excess energy to the national grid, generating an additional,
very stable stream of profits, to be used for our token-holders and for
reinvestment in our operations.
Our 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 our founders, we have a total of 30+ years of
experience building renewable power plants, for a total of 1000+ MWp
installed in various continents.
We are developing dedicated Services to improve your BMF Token
Holder’s experience. We want you to have real time access to our Assets
Performance, both Mining and Renewables.
Our Development Team will work on a web Dashboard to ensure you have
24/7 access to our Operations data. You will be able to monitor technical
and financial performance. Through Dashboard, you will be able to manage
your BMF Tokens, assess your mining contracts’ returns, trade your BMF or
participate in our BuyBack Plan. We want the functions that we intend to
implement in our Web Dashboard to be available in a App as well.
Vault is a further project we have in mind: we want to be sure that your
cryptocoins, while they are with us, remain safely stored in our systems.
With the right equipment and the right infrastructure, it becomes key to
operate each machine in the most effective way. Our 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 our
mining rigs to - Employ predictive maintenance tools and absolutely minimise downtime
aggressivamente i tempi di fermo macchina - Ensure scalability of the investment, to drive token’s value and sustained
earnings.
Bitminer Factory are promoting 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, represents a
Mining Contract between Token Holders and Bitminer Factory. Each BMF
entitles the Token Holders to certain contractual rights that are outlined
in this Whitepaper and comprehensively presented in our Terms and
Conditions document (“T&C”).
Up to 100 million BMF with nominal value of 1$ per BMF are offered to
potential Token Holders through this ICO - Initial Contract Offering. BMF
will be offered at 20% discount to nominal value in a Private-Sale from 25/5/18 to 20/6/18. The following discounts will apply afterwards: 18%
from 20/6/18 to 20/7/18, 12% from 20/7/18 to 8/8/18, 6% from 20/8/18 to
20/9/18 and 0% until Hard Cap is reached. As our Mining Farm is a scalable
project, Soft-Cap is set at $0.5M and Hard Cap is set at $100m. If Soft-Cap
is not met, all Mining Contracts will be cancelled and payments returned
to Token Holders. If Hard Cap is met, the ICO - Initial Contract Offering will
be closed. ICO will be closed anyway on 30/9/18.
Payments for BMF are accepted in BTC, ETH and EURO, following
registration on Bitminer Factory website.
BMF Token Holders may benefit from the mining contract embedded in the
BMF Token by Holding It, Trading It or participating in our BuyBack Plan.
Holders will benefit from yearly payouts in Cryptos that will be proportional
to the amount of BMF each Token Holder has in relation to the overall
amount of BMF Tokens in circulation.
BMF will be listed on selected Crypto-exchanges as well; we plan to
implement on our website an in-house trading platform for BMF too, as we
want to ensure liquidity for BMF. To boost liquidity and value, we developed
a BuyBack Plan. Every quarter from the End of ICO (30/9/18), Management
will issue quarterly operations reports to inform Token Holders on project
status. Depending on crypto-market conditions, we will allocate part of the
cash flow from operations to Buy Back existing mining contracts, namely
BMF, thereby increasing market liquidity and token value. Buy Back will be
reiterated every quarter. We aim at buying back BMF at 1.1$ per token at the
end of Q1 and to increase buy back price by 10% (of nominal token value)
each following quarter.
Despite we are calling it a “Buy Back”, the transaction will be a “barter”
between two digital products: 1 BMF will be returned by its Token Holder in
exchange for an amount of BTC or ETH equivalent to 1.1$ at the time of the
first Buy Back. BuyBack will be paid out in BTC or ETH only. All conversion
rates (BTC or ETH or any other coin to $) will be taken transparently on
Coinmarketcap.com.
More information can be found here-https: //bitminerfactoryico.io/en
