LUDWIGSFELDE, Germany, Jan. 27, 2022 /PRNewswire/ — Spearheaded by German crypto influencer Junior Theomou, a group of eco-conscious, fintech community members have formed the first-ever decentralized collective on a mission to make crypto mining sustainable. Miners DeFi ($MINERS) officially launched on Sept. 24, 2021 on the decentralized exchange (DEX) Pancakeswap and is trading live on the Binance Smart Chain. Shortly after its debut, Miners DeFi reached an all-time-high of $5.5M with more than 1,900 holders.
"We created the collective to show the world that sustainable crypto mining is possible," said Junior Theomou, Founder and CEO of Miners DeFi. "Instead of criticizing the methodology used for mining, we’re creating solutions that leverage eco-friendly practices. Our focus is on creating a movement and brighter future for crypto, while enabling holders to benefit from the power of sustainable mining."
Miners DeFi is a utility token for the crypto community, powering the first algorithmic decentralized collective supporting hydropower-fueled and 100-percent clean energy Bitcoin mining. Miners DeFi tokenomics generate an immediate revenue stream for its holders, while allowing them take part in a long-term project paving the way for sustainable crypto mining.
The collective utilizes transaction fees to support the ecosystem ensuring long-term growth. This incentivizes holders to purchase and hold their currency. Miners DeFi charges a 4-percent transaction fee, paid out in BTCB (Binance-Pegged Bitcoin). An additional 4-percent is used to purchase hydro-powered mining rigs to mine Bitcoin on behalf of the collective.
All rewards from mining practices are then used to purchase Miners DeFi tokens and subsequently burn them. This increases the value of the token and acts as a deflationary measure to decrease the supply further. Since launch, Miners DeFi has completed two burns totaling $10,000 USD, with plans for a third burn of $5,000 USD this month.
Since launch, Miners DeFi has purchased eleven miners, worth more than $112,000 USD. Through a partnership with Cyberian Mine, the mining rigs are housed in Angara River,Siberia. The mines are 100-percent hydro-powered, and leverage Siberia’s climate for natural cooling. Cyberian operates the miners and provides real-time data to display up to date mining statistics.
"We chose Cyberian because of their strong reputation," said Theomou. "We share the same values around transparency and sustainability. This partnership will help us achieve our long-term growth goals challenging the largest players in crypto mining and making the future of crypto green."
Combining the hashpower of multiple mining machines generates profits for the collective. The cost to host the machines equals a small fraction of the purchase price (1.5-percent), yielding an upside for the collective and crypto enthusiasts. The machines work for all holders to generate revenue by applying the hashrate power towards solving mathematical problems and working to mine new Bitcoins to be added to the supply in the global financial system. Miners DeFi is currently operating on a Hashrate of 773 TH/s.
Miners DeFi has set out to build more than just a tool to make Bitcoin mining accessible. It is creating a movement and ecosystem of passionate crypto miners who want to be part of making the future of crypto green.
About Miners DeFi:
Miners DeFi is a collective of eco-conscious, fintech community members seeking to bring the power and the promise of a decentralized future back to the people. Miners DeFi is a utility token for the crypto community, powering the first algorithmic decentralized collective supporting hydropower-fueled and 100-percent clean energy crypto mining. To learn more, visit minersdefi.com
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SOURCE Miners DeFi
