ICO Watch: HydroMiner

What is HydroMiner?
HydroMiner is a cryptocurrency mining company using green energy drawn from hydropower stations in the Alpine region of Europe. Hydropower is generally thought to be one of the most effective and affordable renewable energy resources. It is environmentally friendly, carbon-neutral, and natural. Hydropower allows us to manage resources sustainably and enables low-emission production. What’s more, the technology is simple, controllable, and has an excellent track record.

Using hydropower stations in the Alps region, we reach one of the lowest prices per kilowatt in Europe. In fact, our cost of electricity is currently 85% lower than the average in Europe. In addition, we realize further cost savings by using the water for cooling our mining equipment. In fact, we are able to compete with energy prices in Northern Europe and China. Not only is hydropower mining ecologically friendly, but it is also profitable.
Where possible, mining equipment is built inside standard sea freight containers. The advantage is that containers can easily be assembled near our headquarters in Vienna, Austria, and then taken to the hydropower station. Another advantage is that we have a proven method for equipping containers with mining gear using extremely effective cooling and ventilation equipment. In addition, the container can be moved to another location very quickly if needed, sometimes depending on water levels or the need for extensive maintenance on the power station’s turbines.

The average cost for one fully equipped container is between $350,000 and $650,000 USD, depending on the hardware and cooling technology. With our ICO, we are selling H2O Tokens that will act as vouchers that can be exchanged for mining contracts on the HydroMiner platform.

We have currently rented, with the option to buy, two hydroelectric power stations in Austria. We use the room inside the stations, or place containers nearby to avoid the high network costs for the power lines. Additionally, our proprietary cooling system allows us to save considerable space so that we can significantly increase the number of GPU cards per square meter compared to other mining projects.
We will use the ICO proceeds to further scale up our mining operation with additional hydropower stations.
— The HydroMiner Team

ICO Information
The token sale began on October 18, 2017 and ends November 15, 2017. Each HydroMiner token (H2O) is priced at 0.01 Ether and the bonuses throughout the ICO are as follows:

Week 1 (October 18–24): 20% Bonus
Week 2 (October 25–31): 15% Bonus
Week 3 (November 1–7): 10% Bonus
Week 4 (November 8–15): 5% Bonus

The H2O token is an ERC-20 token and only Ether is accepted as contribution. Funds should be sent from an ERC-20 compatible Ethereum wallet and tokens will be sent to that wallet.

There was a presale for 187,500 tokens that sold out in 36 minutes.

Token Distribution Information
There are 100,000,000 H2O tokens being created, with 25,000,000 available during the ICO. Tokens will be distributed to contributors immediately after the transaction is confirmed. Tokens will be sent to the wallet from which the Ether was contributed.


Use of Crowdsale Proceeds
The proceeds from the ICO will be allocated to hardware, expansion costs at the power stations, and mounting the equipment. ICO proceeds will also be used for marketing, legal, and advisory fees. HydroMiner plans to use 1% of the raised funds to buy BNT and create a Bancor “token changer” between BNT and H20, thus creating intrinsic liquidity for the H20 token. The following is the breakdown of how proceeds will be used:

Hydropower station leasing/electricity: 15%
Hardware: 55%
Operations: 15%
ICO Costs: 10%
Marketing: 4%
Legal: 1%
BNT Reserve Fund: 1%

Website: https://www.hydrominer.org/

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