NEW YORK, Aug. 28, 2018 /PRNewswire/ -- Coinmint, operator of the world's largest digital currency data center, today announced the launch of its token auction through its partnership with security token issuance platform, Securitize.io. Each token is equivalent to one terahash (TH) of Bitcoin mining processing power. Securitize has designed a first-of-its-kind, 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.
"Since launch, we've focused on setting up our new site and hiring," said Prieur Leary, CTO of Coinmint. "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."
Currently, Coinmint is 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," stated Carlos Domingo, Co-founder of Securitize. "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. Full details are provided in the offering memorandum, which is available upon registration at www.coinmint.io.
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 Massena facility 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.
"It is essential that our equipment is the latest and performs at the highest level," Prieur added. "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 15 or until the target hash amount is reached. To register, visit www.coinmint.io. To learn more about the expansion in Massena, please visit the official Coinmint social channels: Twitter and Telegram.
About Coinmint LLC
Coinmint designs, builds and manages large-scale, secure and sustainable digital currency data centers. Since 2016, these centers have focused on the production of efficient computational processing power (or hash rate) as well as the creation of digital asset infrastructure - principally in the form of Bitcoin and other leading digital currencies. In 2017, Coinmint acquired the Alcoa East Facility to supply its 435 Megawatt mining center, making it the world's largest digital currency data processor, based on capacity. Find out more at www.coinmint.io