I recently got to know about an upcoming crypto project called BatMine. I must admit what initially got me interested was the bat shaped logo which made me think it is somehow linked to BatMan. Once I researched more and read their whitepaper, I was a bit disappointed that there was no mention of BatMan even once. However, what struck me as remarkable about the project was that how clearly defined their plan was. I have gone through scores of whitepapers related to the new crypto projects that are getting launched quite regularly these days. In vast majority of these whitepapers I feel a bit lost after reading them. If someone was to ask me what do they plan to do it will not be easy for me to explain. A majority of them somehow seem to be improving shortcomings of Bitcoin and Ethereum or promising a new innovative idea which is so riddled with technical jargon that it is nearly impossible to follow.
On the other hand BatMine whitepaper is one of the most clearly structured plans I have read so far. If someone asked me to explain what they intend to do in layman’s terms, I could easily say that they view a future where cryptocurrencies will get more and more popular which would require better machines for mining. This would get even more critical for the top coins like Bitcoin, Ethereum and Litecoin, which already need high quality mining equipment.
BatMine plans to address this requirement by setting up large scaled mining farms in Czechoslovakia and Bulgaria. They have carefully picked these locations as being part of European union these countries are politically stable. Considering how many countries are turning hostile towards cryptocurrencies and their mining this is a very vital point.
They also offer Mining as a Service, which would enable users to rent a specific hardware for a set time period to mine a currency of their choice. This would fix a big problem that crypto miners are facing while using cloud mining platforms. There is no transparency regarding what the real rate of mining is and if the user is getting a fair share for his investment. This currently makes cloud mining users very susceptible to getting cheated.
As more and more users will start using and mining cryptocurrencies in the coming years it will not be possible to mine effectively by using standard computers or basic graphics cards. Batmine plans to resolve this complexity by offering latest mining equipment on rent to users as per their specific needs as per hash rate of the coins they intend to mine.
Another factor which adds to reliability of this project is the profile of their team members. Their founder Pius Lam is an industry veteran with over 25 years of experience and has been involved in the crypto industry for over 7 years.
To get further details about the project you can checkout their website at — www.batmine.io