On April 12th, Bitriver, the international low-carbon cryptocurrency mining custody service provider, announced that it will launch a token pre-sale backed by 100 megawatts (MW) of mining power in Siberia. The ERC20 token called “bitriver token (BTR)” will represent the single watt-hour (Wh) of Bitriver in Bratsk.
Low-carbon cryptocurrency mining tokens
Blockchain and mining company Bitriver announced that the organization will publicly sell its new token, called the “bitriver token (BTR)” on April 19, 2021. Each token represents one watt hour (Wh) of Bitriver’s low-carbon cryptocurrency mining. Power supplies and tokens will also have utility.
According to the company’s announcement, these tokens will be able to be used to pay for Bitriver’s custodial services, and “will be repurchased by Bitriver at the original listing price in five years.” Currently, pre-sale investors can use BTR for each order. The minimum order quantity is 100,000 BTR tokens.
In terms of the public offering next Monday, BTR tokens will be sold on Bithumb Global, and the price of each BTR will start at $0.3504 per unit. The announcement stated that BTR will be paired with BTC, USDT and USDC. A supply of 100 million BTR has been released to represent 100 megawatts of power.
“From day one, we have been seeking to use all renewable energy and surplus energy for all operations. Bitriver’s founder and CEO Igor Runets said that it’s encouraging that low-carbon encryption is implemented globally. There is increasing interest in currency mining. “By launching the BTR token, we seek to accelerate our efforts to make the mining of green cryptocurrency greener, while providing investors all over the world with an unprecedented easy way to make it an environmentally friendly cryptocurrency today Mining part. “
Bitriver hopes to capture 1,000 megawatts of electricity by 2022
BTR token holders will be incentivized because they will be able to “get additional tokens every month” and use BTR to pay up to 10% of the monthly collocation service bill. Bitriver said it will accept BTR based on the average market price of the exchange’s last settlement month.
The company said: “Every specific month provides free maintenance services for mining equipment located in the Bitriver mining data center.” “If the holder pays 10% of this month’s bill through tokens,” Bitriver’s announcement added.
In Bratsk, Russia, the Siberia region where Bitriver’s colocation data center is located, has about 5 GW of renewable hydropower. By the end of 2021, Bitriver hopes to obtain 300 megawatts of electricity and 1,000 megawatts of electricity before the end of 2022.
What do you think of Bitriver’s BTR token backed by Siberian mining power? Let us know your thoughts on this topic in the comments section below.
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