- BitRiver has introduced the pre-sale of a low-carbon token.
- The BTR token is ready for public launch on April 19.
BitRiver, a supplier of location providers for cryptocurrency mining, at the moment introduced the pre-sale of the BitRiver token (BTR).
BTR is an utility token that represents one watt-hour of energy in BitRiver’s colocation facility, positioned in Bratsk, Siberia. The token is presently accessible for pre-sale to buyers, with a minimal order amount of 100,000 BTR tokens per order. The token can be set for public launch on April 19, and will likely be held on Bithumb International. The worth of 1 BTR will likely be $0.3504 on the time of launch.
“From day one, we have now all the time sought to make use of solely renewable and surplus power for all our operations,” stated Igor Runets, founder and CEO of BitRiver, including, “It’s encouraging to see the rising curiosity worldwide in low-carbon cryptocurrency mining.”
What does the BTR token do?
The BTR token permits holders to start out mining operations in certainly one of BitRiver’s knowledge facilities.
In alternate, BitRiver will guarantee it has adequate electrical energy accessible to those that maintain BTR tokens for a interval of three consecutive months—not less than equal to the nominal worth of the holder’s BTR tokens. So, if a holder has 100,000 BTR, which equate to at least one watt every, BitRiver will present as much as 100 KWh (kilowatt hours) in certainly one of its mining centres for the holder’s new gear.
As well as, the BTR token permits holders to get extra tokens each month, use BTR to pay for BitRiver’s colocation service, and procure freed from cost restore providers for mining gear that’s positioned in a BitRiver mining datacenter.
“By launching the BTR token, we search to speed up our efforts to make cryptocurrency mining greener whereas providing buyers all over the world an easier-than-ever strategy to turn out to be a part of environment-friendly cryptocurrency mining.”
Mining and renewable power
Cryptocurrency mining is an energy-intensive enterprise that has generated criticism for its impact on the environment. Some estimates have noticed that Bitcoin—the world’s flagship cryptocurrency—consumes as a lot power as a rustic like Argentina.
And regardless of frequent claims on the contrary, nearly all of cryptocurrency mining doesn’t depend on renewable power. Per Cambridge College, solely 39% of worldwide cryptocurrency mining is powered by renewables. However the Siberian area of Russia the place BitRiver’s knowledge facilities function reportedly generates about 5 gigawatts of surplus energy from renewable hydropower.
BitRiver intends to make the most of as much as 300 megawatts of the area’s electrical energy by the top of 2021, and as much as 1,000 megawatts by the top of 2022.