Giga Watt build cryptocurrency mining infrastructure, in this ICO part of their infrastructure will become tokenized. Investors owning the tokens will own a mining station and support services for 50 years. A mining station is a place where a miner is connected to the network and electricity supply. The token holders can either rent out or use the tokens to place their own miners. The ICO will start on June 2, 2017.
Why is mining important to cryptocurrencies?
Because if we look at the situation from the point of view of supporting network stability and reliability, as of today, Proof-of-Work algorithm appears to be the most promising. That is exactly the algorithm which gave birth to the entire mining industry in the first place.
Currently, all other alternatives have multiple flaws and weaknesses.
What is the role of Giga Watt in the Cryptosphere?
Giga Watt is building infrastructure — something the entire blockchain can’t exist without.
We would like to draw as many newbies as possible into the industry and make mining available and simple to understand for everyone, and not just for those who are able to spend millions. Right now that’s not how things stand.
Giga Watt supports decentralization. Projects similar to Giga Watt need to launch all over the world.
What financial information can you share about Giga Watt?
Giga Watt has already constructed power capacities worth 2.25mW and are continuing to build more at our own expense Giga Watt’s team has 5 years of experience in building mining facilities. Giga Watt’s entrance threshold is only 1 miner. Giga Watt offers 100% transparency – you can come and see the facility yourself during the Open House days
Until recently, Giga Watt worked exclusively with just a few wholesale clients. Now it is moving into retail, planning to attract individual customers.
The Giga Watt tokens represent mining power for the next 50 years, what assurance is there that Giga Watt will be around in 50 years time?
First of all, Giga Watt’s history is its best recommendation: GigaWatt is not a brand-new company, it is just a new form of MegaBigPower, which Dave Carlson created in 2012. Secondly, it is Giga Watt’s commitments: It has property lease arrangements for 50 years. This information is public and was announced, among other places, on this radio show: http://koho101.com/2017/03/port-of-douglas-county-approves-new-data-pods-at-pangborn-business-park/
Do the tokens represent 50 years of electricity at a fixed priced?
Not exactly. Each token represents access to the facility. Giga Watt cannot guarantee fixed electricity rates for for 50 years: It is not the one setting the prices, that’s the province of local authorities. But they’re interested in developing business in their area, so raising the rates significantly isn’t in their best interests.
How does the economics of the Giga Watt offer work?
Tokens can be used in two ways: to host your own equipment or to rent them out to Giga Watt’s customers. If you rent out your tokens, your income will depend on the rental fee you set (4.2-6.45 ¢/kW/h).
If the tokens are used to host your own equipment, you will be able to save 56-66% of mining expenses (depending on mining volume).
For more detailed estimate please use our calculator at: https://cryptonomos.com/wtt/#/calculator
What are three advantages of investors holding the WTT token?
- Flexibility: When you own your tokens you can choose to build your own mine or to rent your tokens out to other miners – so you can switсh between mining and renting at will.
- Long-term business (token lifecycle is 50 years).
- Liquidity: Tokens are backed by a physical facility which you can visit.
There is a high demand for mining hosting at this time, specifically, where is this demand coming from?
Giga Watt mines BTC, ETH, LTC for retails clients: there is a lot of demand for all three of these cryptocurrencies. Giga Watt is reviewing the markets for other coins too, so its lists of basic cryptocurrencies to mine may be expanded in the future.
Bitcoin mining will no longer be viable at a certain point, and this will occur within the next 50 years. What other alternative uses will there be for WTT tokens?
Transaction rewards! This is an even more interesting segment than mining itself. First, we feed the system, and then the system feeds us. On top of that, Giga Watt mines all scalable cryptocurrencies: BTC, LTC, ETH/MONERO/ZCASH/DASH (for retail clients only BTC, LTC and ETH are available at the moment). As an alternative we can use our capacities to accommodate private blockchains.
What level of technical expertise will be needed to use the tokens to mine?
Will the investors need to buy a miner. How can Gigawatt assist them with this?
You don’t need any technical knowledge. You will have clear and easy to use personal account on the website. Giga Watt’s experts provide all the maintenance for miners.
What is the system by which token holders will rent out their space?
Giga Watt provides a marketplace where orders to rent tokens and to rent them out are matched automatically: the system offers you available options and you get to choose from them.
To find more information about Gigwatt ICO please visit:
We thank the Cryptonomos Team for the intreview.