Miners DeFi acquires mining rigs on behalf of their token holders to support hydro-powered Bitcoin mining to address criticism of Bitcoins environmental impact.
LUDWIGSFELDE, BRANDENBURG, GERMANY, December 11, 2021 /EINPresswire.com/ — The brainchild of German influencer Junior Theomou Miners DeFi utilizes transaction fees to acquire mining rigs on behalf of their token holders
Celebrities like Elon Musk have publicly criticized Bitcoin for using excessive amounts of energy and fossil fuels. Now a group of crypto community members started by German crypto influencer Junior Theomou is building a sustainable mining collective to challenge Elon’s assumptions and make Bitcoin mining sustainable. The cryptocurrency MINERS was launched to astounding success on September 24th of 2021 on the decentralized exchange (DEX) Pancakeswap and is currently trading live on the Binance Smart Chain.
$MINERS quickly reached an all-time-high of $5.5M and over 1900 holders, valuing the project at 64x above launch pricing. The launch of the cryptocurrency has enabled Miners Defi to purchase and start mining with eleven miners totaling a combined Hashrate of 773 TH/s,. The MINERS collective states that their mission is to eventually represent the largest community of Bitcoin miners in the world.
Engineering Network Effects
MINERS currently runs exclusively on the Binance Smart Chain, citing low transaction fees and environmental responsibility. The cryptocurrency group utilizes transaction fees (4%) to incentivize holders to purchase and hold the currency, which are paid out in BTCB (Binance-Pegged Bitcoin). In addition to this, 4% of each $MINERS transaction gets paid into a Mining pool, which is then used to purchase real mining hardware rigs, hosted in Siberia. To date, over $112,000 worth of mining rigs have been purchased solely from this mechanism. All rewards from mining BTC are used to purchase MINERS tokens which are subsequently burned. This increases the value of the token and also acts as a deflationary measure to decrease the supply further. This mechanism leads to compounding token values and rewards for holders and is designed with the clear intent to create strong network effects for the Miners collective on a global scale.
Partnership with Cyberian Mine
In order to kickstart their mining operations, Miners chose to partner with a key player in the Mining industry, Cyberian Mine. Cyberian is based in Germany which provides a stable business environment, while their mining facility is located in Siberia at the Angara river. This provides the perfect climate for their 100% hydro powered mining facilities. Cyberian’s facilities use natural cooling, giving the mining operations a competitive advantage and saving the planet’s resources. Cyberian is in charge of operating the Miners acquired by the MINERS collective, servicing them, ensuring maximum online time,…
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