The utilization of renewable energy for cryptocurrency mining has become something of a trend lately. Just a quick reminder that renewable energy is the type of energy that is obtained from renewable sources, such as water, sunlight, and wind. Global society is gradually moving away from using energy derived from fossil fuels, towards more eco-friendly options.
However, this process can go both ways, which means that digital tokens can become the lifeblood for a company that produces clean energy and then puts it on the grid. This company is called WindMine and it plans to erect several wind farms across Northern Europe, primarily in the Baltic countries, to produce electricity which will be subsequently sold to the leading European suppliers, the Nord Pool Group in particular.
WindMine is a Latvia-based subsidiary company of WindMine AG, a holding company headquartered in Lichtenstein. The primary objective of this entity is to build the facilities for the production of electricity from renewables in the Baltics (Latvia, Estonia, Lithuania), a region that is considered the “energy heart” of Northern Europe. The first such sight accommodates 15 powerful wind turbines located near the city of Liepaja, Latvia, in direct proximity to the Baltic Sea.
The business model of WindMine stipulates for the production of 100% renewable energy which is then sold to Nordpool Group, which represents one of the biggest markets for electrical energy in Europe.
The WindMine project introduces the proprietary security token called WMD. By holding a certain amount of this token, the investors are subject to receiving interest payments for the next 10 years. At the end of this period, the investor will receive back the initial amount which he devoted to the project, or convert it into the actual equity of WindMine AG. Owning the tokens also grants an opportunity to become a shareholder in the parent company.
Like most startups, WindMine is present on all major social media platforms, such as Facebook, Twitter, and Instagram. However, it appears that they are relatively popular only on Telegram, where they have 394 members and a growing audience. As for the project’s performance on other websites, it can be characterized as poor. Only 198 followers on Facebook and 112 on Twitter brings WindMine very close to the ranks of “unpopular” startups. Despite that, the project displays decent activity, posting relevant content on a regular basis.
The sale of WMD tokens will last until September 1, or till WindMine reaches the hardcap of 65 million EUR. The softcap is established at 25 million EUR. The price of 1 WMD is 1000 EUR with that being the minimum investment threshold. The project accepts only Ethereum. All investors must be whitelisted and pass KYC. There is no information regarding the restricted areas.
|Start||April 1, 2019|
|End||September 1, 2019|
I have visited the WindMine website a few days ago to read more about this project because, frankly speaking, I grew really fond of the idea of investing in a windpark that generates clean energy and then profit from getting the revenue shares. Unfortunately, now the website is inaccessible for an unknown reason. Perhaps the team members thought that they won't be able to get enough funds and shut the project down. That would be a real pity.
I am starting to suspect that a lot of projects are simply trying to take advantage of the wave of hype, created by the resurfacing of interest to the blockchain technology after the crypto crisis of 2018, to attract some attention, along with additional funds. I have nothing against the idea of producing electricity from renewables, but WindMine could have definitely done that without employing blockchain and coming up with some tokens. When I saw the name of the project, I thought that it has something to do with crypto mining, but turned out that it just offers interest payments, which is a dull idea.
The future of energy market definitely lies with the renewables. WindMine serves as a prime example of how to tokenize a very prospective business. Certainly, the project won’t attract the crowds of private investors, simply because the entry threshold is relatively high. But, frankly speaking, it doesn’t need a lot of small-time token holders. A few “whales” would do. In my opinion, WinMine holds great potential mainly because cheaper electricity would always be demand.
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