MintMine - ICO Review

Cryptocurrency mining is a highly computer-intensive task that needs a lot of processing power. And laptops and desktop computers do not provide enough power to profitably mine cryptocurrencies like Litecoin and Bitcoin.

To gain profit from mining cryptocurrency, the miner needs specialized hardware with cheap electricity supply and dedicated mining rigs. Since the computer draws up too much power from mining cryptocurrency, it’s very difficult to profit from home mining because of the high cost of electricity. Besides, a miner requires large scale land allocation, which may not be very feasible.

But MintMine is bringing something that can change all that for miners. With cloud mining, users can make cryptocurrencies with the help of a cloud service that can amass power in their farms and data centers.

The method will rely on the mining pool from groups, with no special knowledge of cryptocurrency required. With MintMine’s location in Canada, the company can tap into the inexpensive power supply in the country. MintMine is generating a crowdfunding model that will allow long term and sustainable mining profits for several years. The facility in Canada is designed mainly for crypto mining, as it boasts of secure and stable network infrastructure.

About MintMine


MintMine is an innovative mining operation that is managed by forward-thinking data center experts. The operation uses industry-leading mining technology. MintMine wants to establish a sustainable mining network that is accessible and adds good value to the crypto community. The team is placing its MintMine ICO to help raise funds for the setup of the technology. The main objective of the MintMine team is to help to democratize the cryptocurrency ecosystem and turning it into a mainstream market where everyone can participate.

Its mining facility will be located in Canada, where the team wants to harness the resource advantage in the region. The low cost of power and other benefits makes the team’s decision easier to set up the company in Canada.

Also, Canada boasts of a high supply of water resources. It will make renewable resources for power generation easily accessible. These would all add up to reduce the cost of cryptocurrency mining.

MintMine has plans to mine Bitcoin in large quantities, which is why it’s purchasing the best mining equipment. The main goal of the MintMine is to help small scale miners overcome the bottlenecks involved in Bitcoin mining. It wants to carry everyone along in this project so that there will be transparency within the industry. It will make it easy for cryptocurrency to be accessible on a global scale.

The responsible and shrewd cryptocurrency miners had long understood the practical advantages of using clean electricity derived from renewable sources of energy, such as sun, wind, and water. Not only do they make the process of mining much more cost-efficient, hence profitable, but it also plays into the hand of Bitcoin - which statistically consumes the lion's share of power - and other mineable cryptocurrencies. The image of crypto is severely hampered by the critics who insist that mining is worsening the already dire environmental situation, but a gradual switch to the sustainable and clean energy should pull the rug from under skeptics' feet.

MintMine: Transparent and Eco-Friendly BTC Mining 


MintMine's primary objective falls in line with that notion as this Canadian blockchain startup is striving to organize the trend-setting mining operations powered by hydroelectricity. To achieve this goal, MintMine first needs to raise enough funds via the offering of the ERC-20 utility token MTMN.

The mining infrastructure and token economics 


MintMine is not only aspiring to launch the state-of-the-art mining facility, which should consist of 1080 Antminer S9 miners, but also to make it a crowdfunded and shared operation, which means that all holders of MTMN will be eligible for monthly payouts, the amount of which will depend on the project's commercial success. Basically, the team possesses all needed prerequisites for such a success, especially given that they will supposedly be getting the electricity at ultra-low tariffs, inherent to the industrial sector of Canada.

The token economics of MintMine should be organized in the following way: all those who purchase MTMN during the upcoming ICO, or at any given time after the system launch, will be entitled to a share of all cryptocurrencies obtained through the mining at project's own facilities. Initially, MintMine will be focused on Bitcoin mining, but other digital assets could be added over the course of time.

As much as 70% of the profit is promised to be distributed among the holders of MTMN; 5% will be allocated for the buy-back of tokens in order to keep the cryptocurrency inflation at bay; 10% of the acquired money are going to be put back into the mining infrastructure so that it could be properly maintained and upgraded in a timely manner. The remaining 10% is to be stored away and used in case of a financial emergency.

Another perk of MintMine's business model resides in the fact that the team will pay for the year's supply of electricity upfront, which opens the way for even more significant price cuts. The project expects to pay $0.3 per kW/h, which is almost four times less than the rate achieved by any other mining method.


The MintMine team

  • Frederick Westmoreland. Founder and CEO. He's an expert in mining, corporate finance, and quantitative analysis. Former equity and stock trader.    
  • Omar Rahmat. Co-founder and COO. Equity and crypto analyst who worked at several British fintech companies.  
  • Vadim Kirichenko. Mining Expert. Seasoned marketer turned mining specialist who currently manages more than 20 thousand ASICs.

ICO details


The sale of MTMN is due to commence on February 1, 2020, and last for two months, until April 1. Tokens will be offered at a price of 0.006 ETH per unit, with the minimum investment threshold established at $100. MTMN can be purchased with ETH or USD. The startup wants to raise at least $4,2 million, but the hardcap is set at $30 million. Unfortunately, residents of the United States, Canada, and China are barred from the token sale. MintMine will begin its ICO on February 1, 2020, and end it on May 1, 2020. It uses MTMN as its Token symbol is and a token is valued at 0.006 ETH.

The company is registered in Canada and accepts USD and ETH as its currency. It has a hard cap of $30,000,000 and a soft cap of $4,200,000. The team aims to use the funds from ICO to purchase and set up the crypto mining machine.

Author: Alex Paulson for Crypto-Rating.com

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MintMine
StartFebruary 1, 2020
EndApril 1, 2020
Expired
TokenMTMN
Soft cap$4 200 000
Hard cap$30 000 000
Minimum investment100 USD
AcceptingUSD, ETH

I totally agree with the suggestion that we, the non-Asian miners, must put up a stiff competition to Chinese mega pools that threaten to monopolize the mining business and bring an end to the philosophy of decentralization and the resistance to manipulation, which is at the heart of cryptocurrencies. That is why we need to show MintMine our utmost support. Besides, they have a very solid business model that would allow them to generate revenue right off the bat.

SilverLine   July 5, 2020  


Out of all emerging mining projects that I have seen lately, MintMine seems to be the most appealing, mainly because they offer a very detailed and lucrative business plan. They will have immensely stiff competition in the face of Chinese miners, who dominate the industry now. However, with the right approach and an active user base, MintMine could pose a threat to the Asian miners.

Douglas   January 21, 2020  


The project has a direct benefit to the cryptocurrency community. If the ICO goes well and the firm starts mining crypto coins with the mapped out plans, it will have a positive impact on the adoption of crypto technology in the mainstream.

Green Dragon   December 10, 2019  


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