Junior Theomou, a German crypto influencer, has spearheaded the formation of the first-ever decentralized collective. This group is committed to making crypto mining sustainable. Miners deFi ($MINERS), was officially launched on September 24, 2021, on the DEX Pancakeswap. It is now trading on the Binance Smart Chain. Miners DeFi hit an all-time high of $5.5M within a matter of minutes with over 1,900 holders.
“We created the collective in order to show the world sustainable crypto mining is possible,” stated Junior Theomou. “Instead of critiquing the mining method, we are creating solutions that use eco-friendly methods. We are focused on creating a movement that will bring about a brighter future for crypto and allow holders to reap the benefits of sustainable mining.
Miners DeFi token is a utility token that powers the first algorithmic decentralized collective for hydropower-fueled, 100 percent clean energy Bitcoin mining. Tokenomics of Miners DeFi generates immediate revenue streams for their holders while allowing them to take part in a long-term project that will pave the way for sustainable crypto mining.
To support long-term growth, the collective uses transaction fees. This encourages currency holders to buy and keep their currency. Miners DeFi charges a 4 percent transaction fee. This is paid in BTCB (Binance Pegged Bitcoin). A further 4-percent is used for the purchase of hydro-powered mining equipment to mine Bitcoin for the collective.
The rewards earned from mining activities are used to buy Miners DeFi tokens, which can then be burned. This increase in value and deflationary action reduces the supply further, also increases the token’s price. Miners DeFi has burned two tokens, totaling $10,000 USD. Plans are for another burn, of $5,000 USD, this month.
Miners DeFi purchased eleven miners worth over $112,000 USD since its launch. The mining rigs were built in Angara River (Siberia) through a partnership with Cyberian Mine. The mines are 100% hydro-powered and take advantage of Siberia’s climate to provide natural cooling. Cyberian manages the miners and displays up-to-date mining statistics using real-time data.
Theomou stated that Cyberian was chosen because of their solid reputation. He also said, “We share the same values around transparency & sustainability.” This partnership will allow us to achieve our long-term growth goals, challenging the biggest players in crypto mining and making crypto greener.
The collective can make profits by combining the hash power from multiple mining machines. Hosting the machines costs a fraction of the purchase price (1.5%), which yields an upside for both the collective and crypto enthusiasts. All holders can make revenue from the machines by using the hash rate power to solve mathematical problems and to mine new bitcoins for the global financial system. At the moment, Miners DeFi are operating at a Hashrate rate of 773 TH/s.
Miners DeFi is more than just a tool for Bitcoin mining. It’s creating a community of passionate crypto miners who want the future to be green.