You can own part of a cryptocurrency mining company w/ profits paid monthly...

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Minedblock is enabling a new level of access to cryptocurrency mining, allowing people to literally own a piece of the company that owns and operates everything. To be abundantly clear, this is not a service that rents out mining rigs long term, or another service selling “mining contracts” popular with amateur home miners. This token offering comes with a whole lot more than a token - when I say "own a piece of the company" I mean it literally.

In what may be our favorite use-case of a security token so far, Minedblock's tokens will also legally entitle the token holder to a portion of ownership in the company itself.  Minedblock is the first to use the security token model to fund a cryptocurrency mining operation and the first to file with the SEC, which we found proof of here.

Token holders are sent their cut of the profits at the beginning of each month, paid in ETH for now, but the company says they'll have several payout options in the future. The token itself, the MinedBlock 'MBTX' is an ST-20 token built on PolyMath platform, which is built on the Ethereum blockchain.

Also interesting to see, but actually makes a lot of sense - the fundraising caps are totally open-ended, with no limits. That wouldn't sit well in the whitepaper of a typical ICO, but in this case, the amount they raise simply determines how many mining rigs will be running at the start. The percentage someone earns isn't based on the number of tokens, but the percentage of the total token supply someone is holding instead.

For obvious reasons, security tokens cannot thrive on hype alone. The token holders know exactly how well the company is doing, they're updated every month when they see what their pay is (or isn't).

So the Minedblock team is going to be feeling the pressure, and mining isn't a risk-free business - the reality is far from 'free money' like some try to describe it.  Thankfully, the Minedblock team seems to have been taking notes on what has and hasn't worked for others.

The largest expense of course - electricity. To lower that cost they've chosen Iceland as the first location, which has been consistently been drawing in miners with their low-cost electricity. They're also not just mining Bitcoin, they'll go wherever the highest profits are.

You can participate right away, because the token sale has just begun! They've already earned some impressive evaluation scores from ICOBench with a 4.3(out of 5.0), as well as 9 (out of 10) on ICOMarks. Head over to their site to learn more https://www.minedblock.io/

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Author: Ross Davis
E-Mail: Ross@GlobalCryptoPress.com Twitter:@RossFM

San Francisco News Desk
AN OFFICIAL PRESS RELEASE

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