The token of Bitcoin miners on Cryptosmart

It’s official: Cryptosmart has launched a token linked to Bitcoin miners.

Cryposmart: the brand new token devoted to Bitcoin miners

It’s known as Bitcoin Hash Energy (BHP), an ERC-20 token on the Ethereum blockchain that enables all its holders to take part within the mining of blocks on the Bitcoin blockchain, receiving corresponding rewards in BTC.

In actual fact, for each BHP token bought you successfully buy a 1 Terahash hashpower per second for Bitcoin mining.

BHP tokens may also be staked in IBX’s mining farms, present in Iceland, within the US (Texas, New York) and in Canada (Manitoba).

The mining farms use totally different miner fashions to validate blocks and extract BTC, reminiscent of Antminer XP 140T, S19 pro110T, S19J 104T, S19J100T, and Avalon 1246 90T.

The aim is to supply those that don’t wish to mine Bitcoin at house with the chance to take action remotely.

Nonetheless, this isn’t a type of cloud mining, as a result of by shopping for BHP tokens you’re shopping for, not renting computing energy.

The bought BHP tokens can then be redeemed at any time by receiving the underlying miner in return, i.e., by requesting that the machine be shipped to a mining farm of 1’s alternative.

With a purpose to do that, it’s essential to return an quantity of BHP tokens equal to the machine’s computing energy in Terahash per second.

A web page has additionally been made accessible, on which it’s potential to verify in actual time that the full hashrate of IBX miners has a 1:1 match with the BHP tokens issued, in addition to to verify what number of BTC IBX manages to mine every day on this approach.

It’s value noting that profits for Bitcoin miners have elevated currently, attributable to elevated charges from mempool congestion.

Regardless of this, the hashrate has not elevated by a lot, so it might be notably worthwhile to mine BTC presently.

Bitcoin mining profitability had dropped to as little as $0.05 per THash/s per day in late 2022, however by 2023 it was again round $0.08. In current days, there was a peak as excessive as $0.12, however yesterday it returned to $0.08.

It’s value mentioning {that a} yr in the past it was above $0.12, and through the 2021 peaks it even rose above $0.40.

For now, the BHP token isn’t but tradable on the markets, however it may be bought on Cryptosmart’s Launchpad. With a purpose to obtain the rewards, after buying it, it should be staked in the space provided in IBX’s mining farms.

At the moment it seems that a complete of 6,000 tokens have been issued, towards a complete hashpower of 8,300 THash/s.

To be taught extra concerning the challenge, it’s potential to learn the related whitepaper.