Coinmint, an operator of a very large cryptocurrency mining center, has commenced a security token offering (STO) in partnership with Securitize.
According to Coinmint, each token issued will be worth one Terahash (TH) of Bitcoin mining power. Investors (accredited) may expect to receive daily payouts while Coinmint raises capital to expand the company’s new 1300 acre, 400+ megawatt site in the state of New York. The STO will run until September 15th or until the targeted hashrate is reached.
Prieur Leary, CTO of Coinmint, said the given the interest from outside individuals their decision to offer a security token not only accelerates growth but expands the participation in the backend of the Bitcoin network.
Coinmint claims to be the world’s largest mining center for Bitcoin – at the lowest rate of production. It’s mining center is located in a former aluminum smelter in upstate New York on the Canadian border. The location is said to provide easy access to cheap renewable hydroelectricity and year-round cool temperatures.
Carlos Domingo, co-founder of Securitize – a platform that facilitates the creation and offering of security tokens, called Coinmint’s security token unique in the fact it delivers daily returns.
“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.”
Coinmint explains that, 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 says it 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. Coinmint recently partnered with Innosilicon, outfitting the Massena facility with its mining hardware that utilize the latest ASIC chips produced by Samsung.
“It is essential that our equipment is the latest and performs at the highest level,” Prieur stated. “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.”
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