NordCoin, a mobile cryptocurrency mining solution, officially announced today an Initial Coin Offering (ICO) to raise funds for an additional 28 – 30 Mobile Mining Container units (MMCs) to replicate the success of the 4 operational units. NordCoin is based in Estonia and was founded in 2014 by blockchain enthusiasts and entrepreneurs in fin-tech, and is now ready to scale across the Nordics thanks to its successful MMC technology.
Mobile Mining Container Units
The MMC technology, developed by NordCoin, allows units to be self-contained and controlled remotely, which helps the company overcome the three most important variables affecting the profitability of crypto-mining:
- Effective hash rate
- Cost of energy
- Cost of space
NordCoin’s 40ft freight containers can be transported anywhere in the world to take advantage of optimal mining conditions such as low-cost and surplus energy.
NordCoin’s MMCs remove the burden of the complexities of provisioning and managing individual crypto-mining units and instead relies on the experienced NordCoin team to manage the success of the units.
The Mobile Mining Container is a tightly packed data centre built within the enclosure of a refurbished, 40-ft freight container. The container is modified to include modular racks for housing and powering crypto-mining units (ASICS or GPUs), a climate control system to ensure optimal mining performance, a sophisticated set of sensors and surveillance hardware, and a safe internet connection.
NordCoin started creating MMCs in mid-2017 thanks to the support of a group of like-minded private investors willing to validate the theory. The prototype Mobile Mining Container (MMC-1) was built with an initial investment of $430,000, delivering a hash rate of approximately 53 GH/s (Scrypt).
To date, NordCoin has successfully fabricated and deployed four MMCs (MMC-1 in November 2017, MMC-2 in March 2018, MMC-3 in April 2018 and MMC-4 in June 2018) backed by the private equity investment of the founders. Having proven the MMCs economic viability and high productivity, NordCoin is now seeking to raise capital through an ICO for an additional 28 – 30 Mobile Mining Container units. In order to guarantee enough power, NordCoin has signed a contract with Viru Keemia Group (VKG), an Estonian electricity supplier who will provide the power to the Mobile Mining Containers.
“Our vision at NordCoin is to create a solution that will drastically improve the profitability of the crypto-mining current model” said Hermes Brambat, Board Member at NordCoin and a founding member of the Estonian Cryptocurrency Foundation. “With today’s launch, we are taking a major step in that direction. The Mobile Mining Container technology is set to profoundly change the cryptocurrencies economy as we know it, by facilitating the transport of hundreds of miners at once.”
To fund this project, the company plans to launch an ICO on July 16 at 12:00am GMT, which will run until August 16, 2018 at 11:59pm GMT. Alternatively, the ICO will end immediately upon reaching the maximum issue volume. Early first round token holders will enjoy an additional 10% bonus when participating within the first 5 days of the ICO. Up to 12,900,000 tokens will be issued, of which 85% are available for purchase.
To participate in the NordCoin Mining ICO, participants are asked to create an account on the NordCoin Mining ICO Token Sale Platform. NordCoin is developing a real-time tracking system to provide transparent and accurate information about mining performance, which will be accessible to the ICO participants.
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