MoneyTech Democratizes Cryptocurrency Mining, Announces ICO

Cryptocurrency mining operations are known to be cost-intensive. The cost of mining hardware, electricity and cooling requirements for running that equipment and the increasing mining difficulty makes it virtually impossible for individuals to mine profitably. MoneyTech has come up with a unique business model that makes mining accessible to everyone. The platform democratizes mining by allowing people to invest in the platform and receive a share of the income as dividends.

Even though the first impression of MoneyTech platform doesn’t seem to be much different from regular cloud mining services, it is more than that in reality. The MoneyTech business model is created by keeping capabilities of wide-spread expansion, cost-efficiency, profitability and increased participation in mind. The platform makes use of the cryptocurrency technology to make the process much easier.

MoneyTech has set up its own mining infrastructure in Ukraine for mining Ethereum and ZCash tokens. With Ukraine having the lowest cost of energy compared to other countries, the company’s choice of location will enable it to keep its overhead costs as low as possible. The existing mining farms already have GPU based mining equipment in place. Using the powerful commercial video cards manufactured by Nvidia and AMD, the company has two types of mining hardware configurations set up — the 4-card and 6-card set ups.

In order to expand the business as per the roadmap, Moneytech is currently in the process of raising funds through an ICO. The ICO allows investors to purchase the platform’s tokens — MoneyTech (MT) tokens. These tokens are created on Waves platform, and it allows the token holders to gain a share of mining income as dividends. The platform offers 50% of all the mining income as dividends, with the rest used to cover maintenance and operation costs.

MoneyTech plans to expand the number of mining farms to at least 70 in the coming days by utilizing the funds raised from the ICO. Also, every month a dedicated 30% of income from mining will be dedicated to infrastructure expansion. As the infrastructure grows, the platform’s total hashing power will also increase, which will translate to greater dividends.

Traditional cloud mining services do not come with that option. In such a setup, the hashing power bought by an investor remains constant, and the payouts will be proportional to the mining capacity of the owned hashing power. As the difficulty increases, the payouts will decrease. But with MoneyTech, the dividends have only one way to go, and that is upwards.

Those interested to become part of the MoneyTech revolution can take part in the ongoing ICO here.

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Source: Newsbtc