Getting ready to mine

Getting ready to mine

Dear HydroMiner-Community,

there is a lot going on getting ready to start mining for H20 Token holders beginning of february 2018. We will do our best to inform you continously about the progress and to answer every question that occurs during this period. A few of these questions we wanted to answer in this blogpost and explain it in detail:

Do you already mine?

As we already told you, we bought antminers in the worth of about $1.000.000. They got delivered to Vienna this week and right now the team is installing the hardware in one of our new hydropower stations with an output of 450 kWh. We want to start mining as soon as possible so we can generate profit for the company.

Why does the mining for investors start in february 2018 and not when the hardware is installed?

Right now a team of developers is working on creating our mining dashboard that will be needed for H20 Token holders to redeem their H2O tokens for mining contracts. Also we plan to offer payment for mining contracts in US-Dollar, Euro, BTC and ETH. It will be implemented by end of january 2018.

What happens with the mining profits that are generated until H20 Token holders can start to mine?

The proceeds from the mining until February 2018 will go 100% to HydroMiner GmbH. With that capital HydroMiner will be able to increase the mining capacity for investors through expanding the infrastructure, renting new Hydropowerstations, and equip them with hardware.
We will publish a list of hardware used and tokens that were mined for H20 Token Holders.
Further, a part of the mining proceeds will be used to add more kWh to the current power amount of the H20 Token (which is currently 5 kWh per H20 token) to give investors more mining capacity within our facilities for their Tokens. The exact power supplement will be calculated depending on the current mining proceeds.

We are working hard to implement everything in the most user-friendly and efficient way and to keep this progress transparent.

Is HydroMiner incorporated yet?

Finally we got the Number of the Commercial Court of Vienna, Reg.Number: FN 480790 w. Our VAT number: ATU72733214. It took a bit longer because the name of the corporation needed to be specified, the company name is now “Hydrominer IT-Services GmbH”.

We thank you for your valuable input and keep up your great support!

The HydroMiner Team