Cryptocurrency mining is the backbone of most cryptocurrency networks. Miners provide basic security and confirm transactions. Without miners, the network would be vulnerable to attacks and may become dysfunctional. Digital assets are mined using specialized computers and other mining equipment
Miners usually play the role of securing the network and processing every transaction. Miners achieve this by solving a computational problem which allows them to chain together blocks of transactions. For this service, miners are rewarded with transaction fees and newly-minted cryptocurrencies.
Traditional currencies like the dollar or euro are issued by central banks. The central bank can issue new units of money anytime based on what they think will improve the economy.
Cryptocurrencies are different, miners are rewarded new currencies every 10 minutes. The issuance rate is set in the code, so miners cannot cheat the system or create bitcoins out of thin air. They have to use their computing power to generate the new bitcoins. Unlike traditional central banks controlled and manipulated by government officials who can easily short change the system by printing more fiat without anyone taking note.
BatMine is birthing an exceptional cryptocurrency mine networks within the European Union. The EU, after due consultations and permutations is selected due to the availability of cheaper electricity rates, friendly temperature conditions for crypto-mining activities, favourable taxation policies, secure business environment, a pool of super quick hash rate, green energy availability amongst others.
BatMine will put together mining equipment to mint digital assets such as the BTC, ETH, LTC and a host of other currencies (proof of work and scrypt based digital assets) depending on how profitable they will be as the market determines. BTC miners that consume low electricity and utilize 55 TH/S will be employed for minting execution.
The BATM tokens will be paid out to investors as profit from mining activities. BATM tokens are ERC20 standard utility tokens whose total token supply is pegged at 350 million BATM. Hard cap is set at 19 million EUR while soft cap is 1 million EUR. The tokens are tradable and can be used to pay for goods and services in the BatMine community. Unsold tokens are to be burned.
BatMine will provide custodial services, mining as a service and mining hardware sales including BatMine's indigenous hardware.
The mining as a service (MaaS) will serve those customers who may not want to directly operate the equipment but will prefer BatMine to provide and own mining equipment. First revenue payments will be received in 45 days and subsequent payments will come in 30 days time. BatMine Mining facility is top notch and guarantee seamless internet connection.
BatMine has planned to set up its mining farms within the EU. It has specifically chosen Czech Republic and Bulgaria. These two countries are considered because of their friendly cryptocurrency laws. Other reasons include the availability of cheap electricity, stable economy, favourable labour and tax rates, suitable climate conditions that will reduce cooling costs and secure business environment.
Miners who may be interested in owning and managing mining equipment will be able to do so. Either equipment bought from the BatMine group or gotten from other places provided it is hosted on the BatMine location. Custodial services will be provided for such miners at lower rates. Payments can be made in BTC, EUR or in minted digital currency.
BatMine group is partnering with its vendors to make available quality mining equipment for buyers. BatMine also designs and markets its chips and miners that get sold to both wholesalers and retailers. Investors enjoy special discounts for buying these products and also get a share of generated profits.
Profit distribution will be done based on the Silent Partnership Agreement. It is a legal documentation recognized under the Czech Law; that ensures both parties keep their own part of the agreement over a period of time.
BatMine is a brand new opportunity particularly created for individuals that have an interest in mining cryptocurrencies. It will accommodate both professionals, experts and newbies who will register to become members of the BatMine Community.
You can get more information about BatMine and its plans through:
Web: https://batmine.io/
Whitepaper: https://batmine.io/download/1/
Telegram: https://t.me/batmineICO
Facebook: https://www.facebook.com/BatMineICO/
Bounty0x username: Donrep09