Coinmint, operator of one of the world’s largest digital currency data centers has announced the launch of its token auction through a partnership with security token issuance platform, Securitize.io. Each token will be equivalent to one terahash (TH) of Bitcoin mining processing power. Securitize has designed a fully automated system that allows accredited investors to receive daily payouts. Token holders will partake in the expansion of Coinmint’s new 1300-acre, 400+ megawatt site in Massena, New York.
Currently, Coinmint declares to be mining the world’s single largest amount of Bitcoin at the industry’s lowest rate of production. Its location in a former aluminum smelter in upstate New York on the Canadian border provides easy access to cheap renewable hydroelectricity and year-round cool temperatures.
“Coinmint’s security token contract is unique, in that it secures daily returns for its owner. Securitize is proud to have developed a highly innovative dividend payment mechanism that allows token holders to immediately realize the benefits of Bitcoin mining without any of the hassles or complexity of other environments.”
Based on 2017 averages, energy prices for Coinmint have been below $0.02, and token holders will participate in actual costs with no markups. Coinmint will receive a 25% performance fee, providing for complete alignment with the token holder. This token is issued under Regulation D for accredited U.S. investors and Regulation S for non-U.S. investors.
Coinmint ensures its token holders will always receive the best return on investment by utilizing the most efficient and up-to-date technology in its data centers. The company recently partnered with Innosilicon, outfitting the Massenafacility with its top of the line mining rigs that utilize the latest ASIC chips produced exclusively by Samsung, thus ensuring ample supply of the specialized chips.
“Since launch, we’ve focused on setting up our new site and hiring. Given the overwhelming requests for a broader participation in the distribution of our infrastructure, not to mention the obvious community benefits from the same, our decision to offer a token not only accelerates the facility’s growth but materially expands the participation in the backend Bitcoin network. It is essential that our equipment is the latest and performs at the highest level. The hashrate is the driver behind all digital currencies so, when our machines are computing at optimal capacity, in combination with our low energy costs, the profitability is at its highest.”
Coinmint’s initial offering of tokens is estimated to run until September 15th or until the target hash amount is reached.’