iM Intelligent Mining (iM) today announced its official launch. The company aims to initiate a paradigm shift in blockchain mining by establishing autonomous, solar-powered mining rigs built in the desert and owned by a decentralized network of iM token holders.
Short term goals are to establish the first mining farm and build a dApp. At launch, iM token holders will receive staking rewards and governance power. In the future, iM will provide all blockchains with 100 per cent energy needs and deploy a fleet of rigs into low-earth orbit.
The difficulties of owning and operating a mining rig combined with the initial startup costs are major hurdles for low-income or highly mobile individuals. iM Intelligent Mining provides an investment structure that begins with solar energy production and ends in blockchain mining. Token holders retain fractional ownership of autonomous mining farms whose present value is independent of cryptocurrency, but whose potential value will rise in concurrence. Each mined bitcoin will be used to buy from the iM token pool to increase their value and demand.
iM Intelligent Mining said it offers a solution to the problems of world-wide power consumption, environmental damage, centralized block-mining operations (51 per cent attacks), blockchain scaling, and high barriers to entry for individuals and developing countries.
“I started mining bitcoin at 8 dollars per day,” founder and CEO Daniel Elimelech said. “It was pretty fascinating that you could potentially be part of the banking system and receive rewards, and anyone can be a part of that, literally any person that has access to the internet. Instead of having the machine at home with all the dust and heat and cables, you just hold the token and it’s like owning your own mining farm.”
Proprietary cooling systems allow the rigs to overclock indefinitely while excess heat is stored and released overnight to continue powering the rigs in the dark.
