Swiss Alps Energy kick off their ICO and plan to create a huge decentralized mining infrastructure in Swiss Alpine areas. The equipment will be installed in disused buildings, powered by eco-friendly hydropower plants. The cheap electricity will move to the network of mining facilities with their innovative system of recycling heat.
That sounds promising but what’s the point of the whole project? Why is this approach better than the traditional one? Let’s figure it out.
Traditional mining is outdated
Cryptocurrency is a fresh concept in the world economy, and new coins are issued by means of mining. The main idea of the process is to maintain the value of cryptocurrencies and increase the volume of coins in circulation. Traditional crypto mining requires a lot of energy – it consumes about 7% of the total energy produced for the IT sector. That’s why the industry until now has opted for countries with cheaper energy and less stringent ecological standards.
Even cloud mining doesn’t solve the problem. Services offer remote power but it is produced by traditional mining systems based on fossil energy. Potentially, this approach to mining is environmentally detrimental and can become outdated and irrelevant without non-renewable resources like coal and oil.
Eco-mining is on its way
SAE introduces a new approach to eco-friendly mining, offering a stable blockchain infrastructure powered by renewable energy. For this, the team plans to invest in hydropower plants and disused facilities in the Swiss Alps. With cheap energy from the alternative sources it will be possible to power hundreds of modular mining sets and share their capacity remotely.
The new eco-mining system designed by Swiss Alps Energy focuses on two main features: SAM cubes and SAM smart mining. There are other key innovations but they relate more to their software and organization. For now, let’s focus on the following killer features.
The SAM cube is an automated mining unit equipped with the advanced system that allows for using waste heat recovery for energy. Cubes do not require air conditioning systems because the low temperature in Alpine areas cools them effectively. This contributes to the eco-friendliness of mining as the equipment makes use of natural conditions rather than high-cost and energy-consuming technology. After the project starts, customers will be able to invest in cubes with further installation in the Alps or simply rent their power.
Cubes come in two setups:
- Unit 1 – 4x2x2 meters. Includes 50 ASICs with 700 TH/s and a few GPU miners with 4000 MH/s or 0,004 TH/s. It translates to about 19 BTC per year.
- Unit 2 – 8x2x2 meters. Twice as powerful than the Unit 1 setup – 1400 TH/s, 8000 MH/s, and 38 BTC per year, accordingly.
The most innovative aspect of this equipment is what’s termed the Organic Rankine Cycle. It utilizes the heat to produce extra electricity. ORC allows for saving significantly of energy consumption as compared to traditional mining facilities.
Note: Original cubes are suitable for mining ETH and BTC only. Newer models will be more flexible so that users can choose which cryptocurrency to mine.
After joining the SAE infrastructure, customers can activate SmaiX or a smart mining option. This AI monitors the market of cryptocurrencies, prices, highs and lows, users’ orders, etc. SamaiX can suggest the best coins to mine and roughly predict the rates’ change. Still, you should keep in mind that neither machines nor humans can offer precise forecasts, so do your own research when it comes mining profitability. However, the SAE team is planning to introduce upgrades to the SamaiX system on a regular basis.
So, how will the new mining system develop? Here are the main milestones:
- February 2018 – renting first buildings in the Alps.
- February-March 2018 – installing first mining units.
- March 2018 – starting the SAM system development.
- May 2018 – starting ICO private s
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- June 2018 – starting ICO massive sale.
- July-August 2018 – creating new cubes and renting new buildings.
- End of 2018 – buying first hydropower plants.
- Start of 2019 – starting energy production.
- March 2019 – creating the app ecosystem.
- April 2019 – massive selling of cubes.