One of the largest drawback of mining is the amount of power that is required. Environmentalist are quick to point out the enormous size footprint that mining leaves. Sustainability with this size of energy requirement is everyone’s concern. Here is where Miners Defi comes to the rescue.
Spearheaded by German crypto influencer Junior Theomou, a group of eco-conscious, fintech community members have formed the first-ever decentralized collective on a mission to make crypto mining sustainable. Miners DeFi ($MINERS) officially launched on Sept. 24, 2021 on the decentralized exchange (DEX) Pancakeswap and is trading live on the Binance Smart Chain. Shortly after its debut, Miners DeFi reached an all-time-high of $5.5M with more than 1,900 holders.
“We created the collective to show the world that sustainable crypto mining is possible,” said Junior Theomou, Founder and CEO of Miners DeFi. “Instead of criticizing the methodology used for mining, we’re on a mission to create solutions that leverage eco-friendly practices. Our focus is on creating a movement and a brighter future for crypto, while also enabling holders to benefit from the power of sustainable mining.”
Miners DeFi is a utility token for the crypto community, powering the first algorithmic decentralized collective supporting hydropower-fueled and 100-percent clean energy Bitcoin mining. Miners DeFi tokenomics are set up to generate an immediate revenue stream for its holders, while allowing them to be a part of a long-term project that is paving the way for sustainable crypto mining.
The collective utilizes transaction fees to support the Miners DeFi ecosystem ensuring long-term growth and success. Incentivizing holders to purchase and hold their currency, Miners DeFi charges a 4-percent transaction fee, paid out in BTCB (Binance-Pegged Bitcoin). An additional 4-percent is used to purchase hydro-powered mining rigs to mine Bitcoin on behalf of the collective.
All rewards from its mining practices are then used to purchase Miners DeFi tokens and subsequently burn them. This increases the value of the token and acts as a deflationary measure to decrease the supply further. Since launch, Miners DeFi has completed two burns worth a combined $10,000 USD, with plans for a third burn of $5,000 USD in the very near future.
Through a partnership with Cyberian Mine, its mining rigs are housed and maintained in Siberia at the Angara River. The mines are 100-percent hydro-powered, and leverage Siberia’s cool climate for natural cooling. Cyberian operates the miners and provides the collective with real-time data to display up to date mining statistics to holders and potential holders.
“We chose Cyberian because of their strong reputation in the industry,” said Theomou. “We share the same values around transparency and sustainability, and it’s the collective’s belief that this partnership will help us achieve our long-term growth goals challenging the largest players in crypto mining and making the future of crypto green.”
Combining the hashpower of multiple mining machines generates profits for the collective. The cost to host the machines equals a small fraction of the purchase price (1.5-percent), yielding an incredible upside for the collective and crypto enthusiasts. Once acquired, the machines work for all holders to generate revenue by applying the hashrate power towards solving complex mathematical problems and working to create (‘mine’) new Bitcoins to be added to the supply available in the global financial system. Miners DeFi is currently operating on a Hashrate of 702 TH/s.
Miners DeFi has set out to build more than just a tool to make Bitcoin mining accessible. It is creating a movement and ecosystem of passionate crypto miners who want to be part of making the future of crypto green.