On Thursday November 15th MineryTech launched a crowdfunding campaign on StartEngine: https://www.startengine.com/minerytech
We are the first ever mining colocation to raise capital through crowdfunding in the U.S. We think this is a very important step in a decentralized mining environment. When proof-of-work was first envisioned, people all over the world would contribute their computing power (CPU’s and GPU’s) to secure the network. But over time computing became more specialized (ASICs) and demanded more energy than anyone had ever envisioned. The result of this trend is that every day miners are being forced out of the market. Mining hardware is expensive and if you don’t have cheap electricity rates mining is not profitable. Large industrial farms that achieve economies of scale through their size are taking over the entire network. By pooling together our resources we can get cheap electricity rates and allow retail miners to compete with the industrial players.
The capital obtained through the crowdfunding raise will be used to further build out facility. We currently have roughly 1.5MW of power online. With a successful raise we hope to build to 4MW and beyond.
Thank you to the MineryTech community for your continued support.
Thursday, November 15, 2018