MinedBlock is looking to create a dedicated mining facility to focus on mining the top 50 cryptocurrencies and allow investors to participate on the ground floor of the company. It will be running an STO based on the Polymath ST-20 standard and allow potential investors to take advantage of MinedBlock’s infastructure without the need to maintain or configure the hardware.
MinedBlock will use a mixture of ASICs and custom GPU rigs to mine cryptocurrencies. The initial plan is to use Bitmain Antminers to mine cryptocurrencies such as BTC/BCH, LTC, and Dash. The custom build 8-GPU rigs will be used to mine ETH/ETC.
To grow the mining operation, 10% of the revenue each month will be used to expand the mining facilities. Furthermore, there will be a token buy back and a burn program. Every quarter, 5% of the revenue will be used to buy back tokesn from the circulating supply and burn them, effectively reducing the overall supply of the tokens and increased the return per token held.
The STO is planned to run on March of 2019 and investors will have to pass KYC/AML verification prior to participating.