For those of you that toevluchthaven’t heard of Hydrominer yet, here is a schrijven introduction. Hydrominer aims to massively increase the profitability of cryptocurrency mining by using hydropower. By using water spil the source of energy for their mining equipment, the company can achieve some of the lowest electrical play prices ter Europe. Additionally, Hydrominer can realize further cost savings by also using water to cool down their equipment.
Hydrominer is also an amazing initiative to make cryptocurrency mining greener. Nowadays, Bitcoin mining alone consumes spil much energy spil petite countries. If wij extrapolate this fact to a world where cryptocurrencies are the main form of payment and the number of transactions is significantly higher than today, wij are talking about an obscene amount of energy. It’s crucial that cryptocurrency mining is powered by renewable energies until wij reach that point.
I wasgoed fortunate enough to vraaggesprek Nadine Damblon, CEO at Hydrominer, to get a deeper insight into what is happening behind the scenes.
Okay Nadine, very first question – When did you very first get into the cryptocurrency world and what were your initial thoughts?
Back ter 2014 a friend of mine told mij about this thing called cryptocurrency mining. And I will be fair with you, very first I didn’t know what to think of it.
After a while, my sister shoved mij ter this field and I got absolutely crazy for it. And now Trio years zometeen here I am.
What do you think about the current cryptocurrency mining landscape? Is it sustainable?
Mining is sustainable now and has bot since day one. Wij believe that there will always be a cryptocurrency that will be profitable to mine.
Has someone everzwijn attempted to profitably mine cryptocurrencies using green energy? Or is HydroMiner the very first company to do so?
There are Companies using Solar Energy for mining, but wij believe that HydroPower is the better Solution for cryptocurrency mining. You very likely ask yourself why. Wij are using the water from our Power Plants to cool down the mining equipment, greatly reducing our overall required energy and cost.
Does HydroMiner have a date te mind for when to make the very first dividend payout to token holders? is the company expected to be profitable directly after ICO launch?
The very first Payout is beginning February 1st, 2018 and will toebijten monthly from that point on.
About being Profitable, this ICO will just open HydroMiner to the public and help us upscaling our facilities swifter. HydroMiner is already profitable at this very ogenblik and wij project to keep it this way.
HydroMiner is also programma to sell mining capacity from January 1st, 2018. Could companies like Genesis Mining pose a threat to that business specimen?
Actually, I think it is the other way around. Wij project to pose a threat on traditional cloud mining companies like Genesis Mining! Companies like Genesis Mining suggest hashing power and not Watts like HydroMiner which will separate us from our Competitors.
What is the difference inbetween Watt and HASHes?
The efficiency of mining gear gets higher and on the same time, more people mine, meaning the difficulty to mine a cryptocurrency raises. This rise ter difficulty is omschrijving to a lower profit vanaf initial hash.
By using the Watt system every possessor will receive the same dividend, independent when they’ve acquired the H2O token.
What are the largest challenges associated with hydro mining? How does HydroMiner overeenkomst with seasonal water-level fluctuations ter the dijk?
We’ve chosen only to rent hydropower stations that had stable reports on the water levels and which is able to continuously produce power.
Is this ICO being registered legally te Switzerland or another jurisdiction? Any concern for global investors? KYC requirements or anything like that?
Wij have not incorporated a company, yet. Wij are presently ter the process of figuring out the best company structure. After legal consultations, wij figured out that it largely depends on how big the investment gets – it just has many factors like legal cost, company establishment costs, tax costs, etc. So wij will wait until the token sale is overheen to establish HydroMiner te the best possible form, maybe even spil a stock corporation.
Where do you see HydroMiner and cryptocurrency mining te Five years?
Wij at HydroMiner expect CryptoCurrency and value of CryptoCurrency to raise overheen the next few years and with this, the HydroMiner Project.
Just imagine if you commenced mining Five years back, your Profits right now would be absolutely immense.
Where can people learn more about the Hydrominer and the H2O token?