Frequently Asked Questions
Get Answers to the most common questions.
Get Answers to the most common questions.
HydroMiner is a pioneer in the field of sustainable crypto-currency mining, utilizing hydro power in the Austrian Alps. Our goal is to conduct cryptocurrency mining on a large scale with the use of solely sustainable energy resources. We want to become the global market leader in the renewable mining sector. Green energy is the future of the blockchain, with our ecologically friendly approach we will make the blockchain technology adaptable for a wider audience.
First Hydrominer ICO
After closing the first Initial Coin Offering, Hydrominer raised around 7346 Ether. The funds were to build a new mining facility near Waidhofen an der Ybbs, with a continuous output of 470 kW and for the development of the online mining portal, open since Feb 2018.
ICO Start: October 18rd, 2017
ICO End: November 15th, 2017
ICO Exchange Rate 1 H20 = 0.01 Eth
Token Role: Voucher for Mining Contract
Token Name: H2O
Smart Contract Source: https://github.com/hydrominer/token_sale
Reedeming of H2O tokens
H20 Tokens acquired in the Token Sale can be exchanged for mining time starting from February 2018. The mining contracts will be based on kwH – the calculation is based on the energy consumed. One H20 Token resembles a minimum of 5 kwH of energy within Hydrominer’s facilities. The mining capacity of Hydrominer is split in a contingent reserved for redeeming H20 tokens and for mining contracts purchased with EUR, USD, BTC and ETH. The minimum quantity of H20 tokens that can be credited towards mining time will be announced soon. To exchange H2O tokens for mining time, H2O token holders have to register on our platform through a whitelisting process.
We offer the following mining packages, available in terms of 24 months:
More currencies will follow during the next weeks.
For more info please go to: Mining PORTAL
Hydrominer offers payment for mining contracts in EUR, USD, BTC; BCH, Litecoin, Dash and ETH. Mining contracts are designed over a period of 24 months. The costumer can choose the payouts intervals, if it lays above the required minimum.
You can buy mining contracts in our Mining PORTAL.
SCO (Secondary Coin Offering) with the H3O Token
The H3O presale is live from May 29th, 2018 9:00 am UTC – July 31th, 2018 9:00 am UTC. Join now!
H2O Token Swap
During the main sale, there will be the option for upgrading H2O Tokens to H3O Tokens. There will be no minimum for changing your H2O to H3O during the main sale. You can swap any amount of tokens you like at an exchange rate of 1 H2O : 50 H3O. However, we cannot confirm a fixed public ICO date now. It will start after the capital market prospectus is approved by the Austrian authorities, which will be approximately in Q3 this year. H2O will be implemented as one form of payment during the H3O main sale, so when purchasing H3O you will be able to pay with H2O.
Please have a look at the Key Features of the H3O Security Token.
We won’t disclose the exact locations of our hydro power stations for various reasons, including security and competition issues. Currently Hydrominer rents two hydro power stations, the first one in Schönberg am Kamp, 150 kW base energy, the other one is located close to Waidhofen an der Ybbs, where we rent the base energy of 470 kW.
We chose to start in Austria, where we build start of 2017 our first mining operation for Hydrominer with over 800 GPU’s, located in Schönberg am Kamp with a base energy of 150 kW. Start of December 2017 Hydrominer opened its second facility, with 300 S9 Antminers and a container filled with 1152 GPU’s, with around 500 kW continuous power.
Since Austria has over 3000 hydro power stations, low energy costs for the sustainable hydro power, 3 – 5 cents/kWh and a suitable temperature for mining at a certain height, two of the most important requirements when it comes to cryptocurrency mining, it is an ideal spot for our operations.
In the near future, Q2, we are looking on expanding our operations to Canada and Northern America and Eastern Europe through several Joint Ventures that we are working currently.
The infrastructure is one of the most important factors when it comes to mining.
When setting up a new mining location it needs intensive work to equip the hydro power station with the required connections for the mining hardware, this is not a `plug and play’ process.
A certain level of temperature must be reached and hold, it needs experts to construct an airflow that is effectively cooling the equipment and not requiring this much energy. If it is allowed the water from the rivers can also be used for cooling down the equipment.
So far Hydrominer only worked together with privately owned hydro power stations since it is a lot more convenient regarding the extensive decision making.
We monitor our mining farms 24/7 from several workspaces with a web interface that ensures IP, temperature, hashrate, wattage, fans and memory are all operating at maximum efficiency. Each power station has a responsible schooled technician that can reach the location in short time. This allows us to minimize downtime.
The mining business is one of the fastest scalable business, after the infrastructure inside the power station is build, which can take up to 5 weeks, the deployment of the hardware takes only a few days for our technical team. If the hardware is not up to date any more we simply need to switch the Asics or the GPU’s with the newer model.
At our Mining PORTAL you can buy new and used hardware.
Our team members are working for several years now in the crypto mining space and the gained knowledge allows us to build operations of 1 MW in a few days, we know the bottlenecks, mainly hardware and infrastructure, and are a flexible team that learned to adapt quickly to the various power station sites and finds the best solution for each space.
Another crucial point in the crypto mining business is the acquisition of the specialized mining hardware.
We work with both GPU’s (with which one can mine various altcoins like Ether and Zcash) and Asics (with which one can mine all Bitcoin algorithm currencies like Bitcoin and Bitcoin Cash).
On the Asic hardware market the demand by far, over 10 times, exceeds the supply, the pricing in the spot market distinctly reflects this. There are only two big companies that produce this designated hardware at the moment, Bitmain and Canaan, whereby Bitmain still has the most efficient hardware, although we see a lot of smaller firms pop up and experiment with theoretical more efficient approaches.
At the moment there is a batch of 5000 antminers available per month which needs to be preordered, two times a day prices are given trough for the antminers from Bitmain.
Hydrominer team members have over the years developed a strong relationship with various hardware dealers and also have a team member on site in China to check special offers.
Without this original position a large-scale business in the mining field will likely not succeed.
We are currently developing, together with 3M, a model cooling container with the special cooling liquid Novec, which would allow us to save a significant amount of energy and space. Further partnerships include green cooling, a company specialized in building designated cooling technology, to ensure the desired temperature for the mining hardware and to reduce the energy requirements for cooling.
Thoughts on the energy consumption of Crypto Mining
We think that the Blockchain Technology has a great potential as well as the application of the cryptocurrencies on top of it. Because of that we use resources to build the infrastructure for this revolutionary technology. We don’t see it as wasted energy because we help produce something of value for a lot of people.
But the fact remains that Bitcoin’s success comes at a huge environmental cost, as multiple terawatts of energy are used 24/7 to mine Bitcoins. Around 70% of the cryptocurrency mining is fuelled with fossils, a big part of that still happens in China, is a reason to act!
The vast majority of this energy should be drawn from renewable sources.
We think that most of the miners eventually will switch to green energy in order to make the blockchain future proof.
We will introduce an award for innovative mining methods, open to anyone worldwide. Contribute to the community and help improve the mining process. The prize for the most relevant research will feature a financial award of USD 15.000.
Hydrominer is currently in the process of allocating a research contract for more efficient mining strategies.
HydroMiner’s newsfeed is currently accessible via Nadine Damblon’s Medium profile https://medium.com/@nadine_3242.