One of the hottest ICO’s of this month is HydroMiner. HydroMiner is a crypto currency mining startup which uses green energy in the form of hydro power from the Alps in Austria.
This Hydro power is some of the least expensive and most effective form of energy that can be used. HydroMiner have also developed their own cooling setup for their mining equipment. These two factors combined mean that they are now able to compete in terms of price with Chinese miners.
All of the mining equipment is built inside of a sea freight container. The mining setup is put together near the HydroMiner headquarters in Vienna. Austria. The container is then shipped to the alps and placed within the hydro station.
A major benefit of this approach is that the mining setup can be moved fast if the need arises. This may occur when the water levels are low for the HydroPower station or if their needs to be significant maintenance.
In order to scale up the mining operation HydroMiner is using an Initial Coin Offering (ICO). In the ICO they will be selling H2O tokens. These can be exchanged for mining contracts on the HydroMiner platform.
The Majority of the funds from the ICO will be used in order to purchase more hardware and expansion of the power stations. This could include either purchasing or leasing hydro power stations. Funds will also be used for legal and marketing costs.
Take a look at their token sale here: https://www.hydrominer.org/
H20 Tokens can be exchanged for 5kwH of mining time for 24 months. The proceeds from the mining are paid out the user’s wallets daily. HydroMiner says that they expect net proceeds from mining will be approximately 20 - 40% of gross revenue.
See a full write-up of the HydroMiner business model in their whitepaper: https://www.hydrominer.org/wp-content/uploads/HydroMiner.pdf