SWISS ALPS MINING Ico Review
Swiss Alps Mining & Energy is a project that seeks to minimize power consumption during crypto mining by proving the miners with power-efficient mining facilities at Swiss Alps. The project operates under Swiss Alps Energy (SAE) business.
Total SAM tokens on sale: 239,682,538
Type of Token: ERC20
ICO Private Sale: May 2018
ICO Public Sale: June 2018
Crypto Mining And Power Consumption
Blockchain technology has been hailed for facilitating mining of virtual currencies, something that is not possible with fiat currencies. The reputation issues associated with some Cryptocurrency providers has hindered the acceptance of the currency among the wider public. The progress is slow, and the use of this currency has not been maximized.
Blockchain technology has other areas of application apart from Cryptocurrencies where it is associated with benefits such as transparency, safety, and cost reduction. One of the greatest shortcomings of this new technology, however, is power consumption. For instance, the energy used to bitcoin alone is equivalent to that used in Ireland. Consequently, the cost of crypto mining depends on the price and availability of power.
Crypto Mining And Environment
Due to the high power consumption linked to crypto mining, mining facilities are outsourced to regions with cheap electricity. Sometimes, such places heavily rely on cheap fossil fuels that are harmful to the environment. Crypto mining in such regions has negative impacts on the environment due to pollution.
Bitcoin mining has experienced a 30% increase in power consumption. If the growth continues to be recorded without any change, its mining will pass worldwide electricity use by 21 TWh, by 2020. Already various countries are feeling the impact of crypto mining on the power supply. China, for example, has shut down its Bitcoin mining operations due to its impact on electricity supply.
On average, the cost of crypto mining has been increasing tremendously globally. Since 2017, for instance, the cost has quadrupled. The high prices of Cryptocurrencies, however, act as an incentive to mine them regardless of both the financial and environmental costs.
SAE is a Swiss startup firm dealing with crypto mining and energy. The organization is based in Huenenberg, Canton of Zug.
The company is planning to open crypto mining farms around Swiss Alps. The project is the first of its kind and will use buildings that the local farmers are no longer using. The firm will also develop a hydropower project to provide electricity to be used in the farms.
Uses of SAM Tokens
SAM tokens will be used in the payment of all services and products from SAE. The value of SAM token is expected to increase significantly due to its use in mining. The token will also be used in the following ways:
• To rent mining infrastructure.
• To purchase SAM cubes
• To pay electricity bills
• To establish Swiss Alps blockchain to provide Blockchain services to other companies.
The money raised through the ICO will be invested in the development of the mining infrastructure and the acquisition and development of the hydropower plants in the area. After establishing SAE’s infrastructure, the project will be expanded to other countries and will mainly concentrate on renewable energy.
Bitcointalk Name: Danbeta2