On April 12, the international supplier of colocation services for low-carbon cryptocurrency mining Bitriver declared it’s launching a pre-sale of tokens backed by a hundred megawatts (MW) of mining power in Siberia. The ERC20 tokens known as “bitriver token (BTR)” can represent one heat unit (Wh) of Bitriver’s power in Bratsk.
A Low-Carbon Crypto Mining Token
The blockchain and mining firm Bitriver declared the organization is launching the general public sale for its new tokens known as “bitriver token (BTR)” on April 19, 2021. every token represents one heat unit (Wh) of Bitriver’s low-carbon cryptocurrency mining power and therefore the tokens can have utility likewise.
According to the company’s announcement, the tokens are going to be ready to be accustomed by Bitriver’s colocation services and “will be bought back by Bitriver at original listing worth once a five-year amount.” At once BTR is obtainable to pre-sale investors with a minimum order amount of 100,000 BTR tokens per order.
As a way because the public launch worries next Monday, the BTR tokens are going to be oversubscribed on Bithumb international and therefore the worth per BTR can begin at $0.3504 per unit. The announcement says BTR is going to be paired with BTC, USDT, and USDC. A provision of a hundred million BTR has been issued so as to represent a hundred MW of power.
“From day one, we’ve got forever sought-after to use solely renewable and surplus energy for all our operations. it’s encouraging to ascertain the increasing interest worldwide in low-carbon cryptocurrency mining,” Igor Runets, the founder and chief operating officer of Bitriver aforementioned. “By launching the BTR token, we have a tendency to look for ways to accelerate our efforts to form cryptocurrency mining greener, whereas providing investors around the world associate easier-than-ever thanks to become a part of environment-friendly cryptocurrency mining nowadays.”
Bitriver Hopes to Capture 1,000 Megawatts of Power by 2022
BTR token holders are going to be incentivized by having the ability to “get extra tokens each month” and use BTR to ante up to 10 percent of the monthly collocation service bills. Bitriver says it’ll settle if BTR supported the common market value on the exchange for the last settlement month.
“Obtain freed from charge repair service of mining instrumentation that’s situated within the Bitriver’s mining datacenter every specific month,” the corporate says. “If the holder pays 10 percent of this monthly bill by tokens,” Bitriver’s announcement adds.
In Bratsk, the Siberian region of Russia, wherever Bitriver’s managed knowledge centers are situated the realm has around 5 GW of renewable hydropower. By the end of 2021, Bitriver hopes to capture 300 MW of power and 1,000 MW by the end of 2022.