Hydrominer ICO Date: 18th October 2017 to 15th November 2017.
HydroMiner is a crypto currency mining company using green energy drawn from hydro power stations in the Alpine region of Europe.
Hydro power is generally thought to be one of the most effective and lowest-cost renewable energy resources. It is environmentally friendly, carbon-neutral and natural.
Using hydro power stations in the Alps region, the company reaches one of the lowest prices per kiloWatt in Europe. In fact, the cost of electricity is currently 85% lower than the average in Europe. In addition, further cost savings are realized by using the water for cooling the mining equipment. In fact, the company is able to compete in energy prices with Northern Europe and China. Not only is hydro power mining ecologically friendly, but it is also profitable.
HydroMiner mines all scalable crypto currencies. The decision as to what currency to mine is made by software algorithms, which choose the best option available at any moment. HydroMiner is also flexible about the mining pools it uses, depending on payouts and liquidity among other factors.
BACKGROUND.
In 2014, Nadine and Nicole Damblon, inspired by a common friend from the US, started to mine crypto currencies with their home computers in Vienna and Dusseldorf. After a year of profitable mining, some friends wanted to invest in their mining business and the mining farm grew bigger, soon outgrowing their small apartment.
In late 2015, they reached the maximum amount of electricity that they could receive in their apartments. That’s when they realized that the lowest price per unit of energy would decide the success of mining operations in the future. Now the question was: Where could they get the lowest energy price? Soon they learned that the largest part of the electricity fee in Germany and Austria consists of the so called network power transmission fee, effectively a tax set by the government. This fee comes into play as soon as generated power is transmitted into the general energy network.
The only way to avoid this fee would be to sit directly at the source. Austria, the beautiful mountainous country in central Europe, is home to thousands of small hydro power stations. They are usually in private hands and barely break even. Through a friend, they were able to rent space in a hydro power station near Vienna. Cheap energy indeed! As more investors joined, they expanded into another hydro power station.
They plan to enlarge the operation significantly with the funds from the ICO. The next step is to rent space in larger power stations that will provide an even better environment and higher profitability for mining.
HOW IT WORKS.
Each token during the crowdsale can be exchanged to 5 kWh of mining power for a specific time (24 months). The resulting net mining proceeds are paid out to the user’s HydroMiner platform wallet daily. Net proceeds are mining proceeds minus operational expenses and hardware repurchases. Depending on the market, it’s expected that net proceeds will be 20-40% of gross revenue. 10% of the mining net profits are distributed to the team.
H2O TOKEN USES.
H2O Tokens will act as vouchers that can be exchanged to mining contracts on the HydroMiner platform.
PREVIOUS ACTIVITY.
The company currently has one hydro power station fully operational and a second one rented, with hardware being deployed end of September.
Langenlois in Lower Austria (Hydro 1).
In Langenlois, the HydroMiner team has equipped a 290 kW hydro power station with a total of 120 units, each with between 6 and 10 GPUs. Besides installing the units, HydroMiner had to adapt the power station’s electric system to fit the equipment. Due to the very small amount of space available and the impossibility of using a co-located container, this was a very challenging project. However, this particular power station has a very stable supply of energy and is in very good condition. HydroMiner rents the whole power station and has a purchase option until the end of 2018. In Langenlois, the average price per kWh is about 4.5 cents.
Waidhofen an der Ybbs (Hydro 2).
In Waidhofen, HydroMiner is currently equipping another power station with a maximum capacity of 700 kW. This project is realized in a smaller 20-foot container with a capacity of up to 150 GPU-based units and 100 Bitcoin miners. This power station is a large hydro power station and has just recently been overhauled. There is sufficient energy for up to 3 containers without any interruptions, even at low water levels. In this location, HydroMiner has an energy purchase contract with a variable price over time and depending on water levels.
ROADMAP.
HOW ADVANCED IS IT?
They have so far raised 2.7M USD in their ICO.
WORKING PRODUCT.
Tokens acquired in the token sale can be exchanged for mining time starting from February 2018.
SIMILAR PROJECTS.
Envion.
Their goal is to create highly-profitable, global crypto-mining infrastructure contained in shipping containers. Envion will deliver those shipping containers directly to the energy source to minimize costs. The end result of this system is an extremely mobile mining solution hosted in standardized CSC containers, ready for plug and play deployment at any energy source worldwide.
Envion’s ICO begins with a pre-sale on December 1, 2017. The general ICO is scheduled for December 3 to December 31. EVN tokens are ERC20 tokens built on the Ethereum blockchain. There’s a total supply of 150 million tokens. Token holders are entitled to receive 75% of Envion earnings immediately, with the option to reinvest 25% to boost future payouts.
HOW IS DIFFERENT FROM OTHER PROJECTS IN THE SPACE?
They use hydropower.
USER REVIEWS.
[Good to see that there is a team connected and that there is a proper description of the project and the idea. However, I would still love to see images of the place where you house your equipment, as it does add a lot of credibility to the project, which has a positive influence on the amount of money that is invested/injected into the project.]
[Just wondering that why is it that it got its domain just recently, considering the fact that it’s been operating for quite a while now? Other info seems real but without registering this company makes this not legal in operations. Anyway, we will know in time if this is legit or not. Also, the service that it is offering is just like cloud mining. They are just using the hydro as source of power. And a lot of times, cloud mining is not really profitable to investors.]
[But hydeo is renevable, so it should, in theory lower the power cost close to 0]
[Don’t forget about insurance, security, maintenance, repairs,… in real they have between 4.25 and 4.50 cent/kWh (see whitepaper). This is very cheap within Europe, but there are still countrys out there with lower prices. What happens once the operational costs are higher than the revenue? In that case tokens are worth nothing.]
[Yeah, most of the cloud mining sites are a scam. But HYdroMining isn’t, atleast not from what i’ve seen so far.]
[I hope i live in Austria too. Our electricity cost here is extremely high and monopolize for years after the government sold it to private sector. I saw the video uploaded regarding your site and it was truly fascinating. I would love to invest into this project as it will not just benefit the company but also me as a investor]
[For the noobs, raising funds and promising you mining dividends is not new. This was a project that did it a while ago: https://bitcointalk.org/index.php?topic=1461341.0 https://coinmarketcap.com/currencies/mineum/ You’re better off keeping your ETH. Just saying…]
[The mining process forms the most crucial part of the cryptocurrency ecosystem, as it is necessary to maintain the network and process transactions over it. However, profitable mining requires specialized hardware, loads of hashing power and electricity which is not affordable to everyone. While setting up a mining farm, two critical things should be considered –the hash rate and cost of electricity. These two have continued to weigh down on investors and miners who would want to make profitable returns. Mining using hydroelectric power seems to be the most efficient way to not only keep the electricity costs low but also to ensure impressive returns on the equipment used. In addition, hydroelectric power is considered to be one of the cleanest sources of energy which helps the mining operation reduce its carbon footprint, particularly in the time when people are concerned about the impact of cryptocurrency mining on the environment.]
[I can see the owners of this project are two German high school uni girls. will you make use of your juvenile femininity to attract some people to hydromining in Austria? ]
[Please behave like a gentleman.]
[The PRESALE IS OVER! The cap has been reached in 36 minutes!]
[there seems to be a lot of people who are interested because there is no need to think about the expensive of electricity costs because hydrominning uses electricity using hydropower so very cheap, very creative in my opinion, but the ROI is long time enough (8 months) #imo, and many people say about the bad mining future, what do you think?]
[Actually as I understand the ROI is not 8 months. Is around 22 months( 60% ROI Yearly)]
[And will the dividends be paid in Ether?]
[They will pay you with Ether.]
[So i own the token and the watts forever? Other project I see sell you time on their equipment which then burns the tokens at the end of the contract, probably why they offer larger/quicker ROI… Interested in this project, but the long breakeven time frame of two years has me hesitating. Whereas if I can make consistent 10% gains every month just day trading crypto I get a better return]
[As long as you hold the h2O token dividends will be distributed as per the amount of H20 each token holder has. Each token will entitle its holder to the mining rewards for a single watt used. By issuing the rewards per watt instead of per hashrate, H2O will generate and distribute mining rewards evenly.]
[Looks like the whitepaper was pulled? Does anyone know where to find it?]
[At the moment whitepaper is being updated. The team is fine-tuning their token model to work with Austrian regulations. We hope HydroMiner team will release it soon.]
[Token sale is going ok. Even maybe project will be performed more efficiently with not so high investments a few millions will be enough to hire some hydro power plants and as i understand they already have enough gpu rigs to run]
[guys, and that hardcap 250k ethereum? Hmmm, the presale was only 1500, a big difference]
[lol! such a scam!]
[Hydrominer is not a scam! They already have a mining facility which is operative. On top of that, even after the ICO, every ICO participant will be able to purchase H20 tokens once their mining time ends with the same bonus that they got during ICO, up to the amount of their initial contribution. Furthermore, it has a better hashrate per $ than other mining services, you can choose what currency you want to mine, or you can leave it to the team (they use an algorithm which determines which currency is most profitable for mining currently) and of course, it is better for the environment.]
[I just want you to know that my main value is honesty, and it’s after I noticed a lot of lie and a lot of lack of knowledge from them that I think I could bring more trust into cryptocurrencies in general, because there are already too many scams:
a)c Current yearly ROI : 60% My answer : Totally, WRONG. First, I’m personally mining, in Canada, with hydro-electricity, and GPUs as well. I have a rate of 0.072 USD per KWh. My Roi at the time is around 7 months. Basically, around 170-180% ROI. I don’t even have a ”hydro company” and already my numbers are higher. I can tell you in private with proof and number how I make it, with screenshots + selfies and everything you need.
To conclude : If you want to start mining, do it at home. Even if your electricity rate seem higher than some other pretends, it will still be more profitable if you do it by yourself, and as opposite of their first page drawing, if you want it at home, you want an external shed or an empty appartment room. ( It is noisy, it is heaty ) Hydro miner teams want the biggest part of the pie, and it’s ok, guess all humans are greedy. I just think that before you invest in some people that will gain the most out of your investment, to basically do it yourself on a small scale. You’ll understand with real numbers that mostly all they imply to raise fund are fakes and that you’ll have to wait a lot of months before seeing your cryptocurrencies back in your wallet.]
[ Basically we talk about the same ROI, it just seems you confuse ROI with the total return, ROI is the amount of money you make AFTER your investment is recovered, so your 170% are basically the same as our 60%. Most of your statements actually rotate around this misunderstanding.]
[Already 2 million USD collected. It is not going so fast but as i read from their official website it will be quite enough to develop and increase efficiency of their mining strategy hiring more stations.]
[This ICO is absurdly expensive! 3.00 a token! Are you out of your mind? I feel sorry for the people who WILL lose money on this.]
[Can you please explain the process, how i will get another coin or i will get only H20 so i can exchange them for real money, and how much get in a month for 1ETH or i will have to sell 100 H2O?]
[Hi, H2O token is a voucher for mining time. 1H2O=5kWh. For 1 ETH you get 100 H2O tokens. Each token can be exchanged for a 2-year mining contract, or you can decide to hold it and maybe sell it on the exchanges when it hits the market. So it is all up to you.]
[I have a question for the team: why are the contracts so long, - 2 years!? It makes impossible for users to make even remotely educated decisions on what cyrrency to mine. Nobody can predict the situation in 1 year. Is it fair to the users?]
[Initially, and as long as it’s profitable, the chosen currency will be mined primarily. In case the profitability of the chosen currency decreases, we will use the allocated kwH on a best-effort basis to mine the most profitable coin for you.]
[Seems like the ICO participation has slowed down brutally? Did you stop spending funds on marketing? Or whats your take?]
[Hydromining was a project that was set out to create a mining farm. But in mining, as the number of coins in your hand increases, the roi runner becomes shorter, so the more you have, the more money you will earn. I think that this money will soon do not be enough for the team and the project can not be developed. So it will not be a user-friendly project, will it profitable? I do not know. Personally, I did not buy it.]
[this project was perfect and had everything to succeed, until they decide to change everything ]
