By interview with Nadine Damblon, CEO and founder of HydroMiner who are delivering Green mining in the Austrian Alps.
Business Showcase : HydroMiner
What is your background, how did you end up launching HydroMiner?
My sister and me have an art-related background but slipped into the mining business by trying it out and then got somehow stuck on it. One of the great things about the cryptoworld is the wide variety of backgrounds; almost everyone is new in some way and brings something with him which results in a very open-minded and vibrant community.
Bitcoin mining consumes as much energy as Croatia. Isn’t it time to switch to green mining? #hydrominerpic.twitter.com/BRBmgCamrP
— HydroMiner (@hydro_miner) September 27, 2017
How would you describe what HydroMiner are doing?
We are mining cryptocurrencies in the Austrian Alps with energy directly drawn from hydropower stations. Through placing gpu graphic cards – which we use to mine various currencies like ether, zcash and siacoin – inside sea freight containers and putting those next to the hydropower stations we are able to avoid high power grid costs. We achieve around 4 cents per kWh and are able to compete with other big mining operations in terms of profitability but using green energy and leaving almost no carbon footprint.
How will you achieve the cheap energy prices?
The hydropower stations we rent are all owned by individuals. In Austria building new hydropower stations are heavily subsidised. The owners get a high price guarantee of 10 cents per kWh, after ten years when the subsidies are expired, power companies pay a wholesale price as low as 2,5 cents per kWh. And there is a whole set of stipulations, like over payment for underperformance. This is why it is more interesting for hydropower stations that are over 10 years old to lease to us, and it enables us to achieve this low price for green energy.
Green gold? HydroMiner Pre Sale ICO completed in 36 Minutes
Tell us how the presale went?
The wide interest in our project is stunning, a lot of people would like to see the cryptoworld build upon an environmentally friendly form of mining. We moved the date of the ICO to october 18th, since in Austria there are some upcoming regulations that we need to comply with.
What will the funds be used for?
The ICO proceeds will be mainly used to buy hardware, equip the containers and to rent new hydro powers stations here in Austria, then there are some marketing and legal costs that also need to be covered.
Pre-Sale closed in 36 minutes, 1,500 ETH raised! Thanks to all our supporters! https://t.co/z15tP5sJAg#ico#ethereumpic.twitter.com/HqKwM8SZzU
— HydroMiner (@hydro_miner) September 25, 2017
What are your plans for the future?
We want to expand to at least 20 Containers within the next 12 months, our goal is to be one of the biggest miners in Europe, using environmentally friendly energy.
Our CEO and CFO are at World Blockchain Forum in London today and tomorrow. Meet up? Contact via website! #blockchainpic.twitter.com/VNwd1SgGqA
— HydroMiner (@hydro_miner) September 25, 2017
Who are your sources of inspiration?
Of course there are many great ambitious cryptoblogs that cover the latest topics, but I really like to actually meet people and talk to them, which you can perfectly do on various meet-ups, talks and conferences world-wide. This is how I get really excited about new ideas, meet the makers behind the concepts.
What do you think about the PoS [proof of stake] challenge?
I think PoS is generally a good idea, but it is really hard to implement. That is why there is still no date for the Casper protocol for Ethereum, nobody knows if the problems with PoS can be solved. And if it is possible to secure a system from within itself.
I personally think that cryptocurrencies do have a value, like gold and cars do, and we are not concerned using energy for those. Green energy can be considered as an attempt to minimize this controversial issue.
What are the opportunities of ICO’s?
The concept of ICO’s could be a great chance for businesses like ours, we are able to present our idea to people spread all over the world. They can then decide if they think our idea is profitable and whether they want to help achieve it or not. People can do their own due diligence, it involves a lot of communication, but it is still a free space, everyone can participate. People want to support good projects and there are no burdens for small investors. That’s a great opportunity for both sides, businesses and investors.
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