What is BatMine really?
BatMine is an innovative project that introduces more than just a crypto excavator to the market. In short, it aims to generate as much profit as possible with as little energy as possible - while being the most durable and powerful system so far. One of the most important points to note is the usage of "green" energy – the authors of the project took care to maximize the profit at the lowest electricity consumption. This, like many other positions in this project, makes us call it the emerging market leader.
“Blockchain is a technology that we are fully committed to and we are dedicated to implement to the maximum. Although the technology is relatively young, we foresee that it will become the standard, just like the Internet became the standard of the world.”
Brief description of the mining industry
The very first and most important thing you should know about crypto mining - there are several ways to do this: Home Mining, Cloud Mining, and the third - most profitable - Industrial Mining Farm. At this point, we are already omitting the first two ways because of their high costs and general impracticality. On the global market we can see a huge step towards industrial mining. As you can guess, Industrial Mining Farm such as BatMine is a big investment and is associated with huge costs (equipment, resources, infrastructure, electricity etc.) that are not available to ordinary people. A solution? Crowdfunded Industrial Scale Mining Farm. What distinguishes BatMine from the competition are lower electricity purchase costs (4 cents per KwH), lower taxes paid (10% in Bulgaria - later on), higher equipment efficiency (55 Th/s), and secure legislative jurisdiction.
The Magic of Location
The authors of the project, came out ahead of the rest and prepared well for the choice of places to set up their company. Two countries were selected: the Czech Republic and Bulgaria.
Advantages of locating the company's headquarters in Bulgaria:
• The flat rate tax rate in Bulgaria is 10% (the lowest rate in Europe!)
• Stable European legal jurisdiction with crypto legislation
• Easily accessible team members
• Low labour costs
Advantages of the location of the mine in the Czech Republic:
• Low costs of electricity (mainly supplied ecologically) and labour
• Stable economy
• Legal structure (as described in point “legality”.)
• Cooler climate, through which the costs of maintaining a specified temperature of objects decrease
• The sixth safest country in the world
• Reliable, fast-growing energy and Internet network
Revenue Generators
That's four of BatMine's main sources of income:
1. Mining of Cryptocurrency
Only the most profitable crypto is mined in a selected period. In this case, the most important will be: a good choice of miners, focusing on the power of miners, availability of spare parts, life expectancy, etc. It is also planned to regularly replace old miners with new ones in order to keep pace with the growing market. The next point is to ensure that production is optimised in relation to costs, so that revenues can continue to grow.
2. Mining as a Service
The service provided by the company is also the "Mining as a Service". This is to provide customers with an appropriate hash power and dedicated miners for coin digging. This service can only be purchased with the use of BATM tokens, which guarantees the uninterrupted use of tokens. Customers who decide to use this service will be able to choose which coins they want to extract at the moment in order to achieve the highest profit. Such a package ensures:
„1.Our dedicated miner(s) installed at our state-of-the-art co-location in a safe jurisdiction,
2.Specialized technicians managing the miners 24/7/365,
3.Continuously provided electricity,
4.High-speed Internet connection,
5.24/7 access to your miner results,
6.Monthly distribution of your mined profits”
3. Custodial Services
BatMine gives you the ability to manage mining operations. You can use two options: buy equipment from the company or send them your own. In summary, BatMine pays you the total amount extracted minus the cost and maintenance charges for the machine. This project aims at making it possible for everyone to earn money from mining.
4. Hardware Sales
That is, simply developing and selling their own miners and chips, offered in wholesale and in detail.
What's gonna happen to all this profit? Let’s read the diagram:
ICO/IEO Raised Funds Allocation
The Legality
You're probably wondering about the relationship between the law and this project. I'll give you an explanation: The creators used a legal structure called "Silent Partnership," endowed with a power of attorney. In the case of BatMine, it works in such a way that the first party receives the investment and the other party receives a predetermined share in profits (in this case 30% for 10 years). BatMine's lawyers made sure that there would be no problems with this program, so they verified it with the Czech National Bank, which confirmed the legality of the structure.
This agreement provides for the right to share in any profits of the Company. The investor receives not only a part of the profits, but also the BATM tokens.
Overall Summary
The whole BatMine plan surprised me very positively. Frankly speaking, the authors of the project took care of every single detail of the action, and you can see that we are dealing with professionals here. So I am waiting for this business to enter the market to enjoy the progress.
If you want to learn more about the project, please visit here:
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