Jun 152012

This is a sponsored post from Giga Watt Project

Giga Watt is a new crypto project that tokenizes the right to use the capacities of a professional cryptocurrency mining facility in Wenatchee, WA. These facilities are designed and built by Bitcoin mining pioneer Dave Carlson. Giga Watt offers a wide range of turnkey and customized mining services, including mining equipment sales, maintenance and repair, and private blockchain servicing. The project aims to raise $30 million before the end of July to build out its capacities, with the goal of democratizing access to cryptocurrency mining.

The Giga Watt project is undergoing a token sale to raise that amount. Just a few days into the Giga Watt Token Launch, the first two batches of its WTT tokens sold out. WTT tokens are sold through Cryptonomos platform and grant access to the Giga Watt’s processing center capacity to accommodate one watt’s worth of mining equipment power consumption, rent-free, for the lifetime of the hosting facility (on average, about 50 years). At current calculations, this makes it possible to mine Bitcoin for less than $600, which is much cheaper than its current purchase price. In addition, it brings more people into the cryptocurrency mining fold, helping them mine their first Bitcoins or other cryptocurrencies.

Giga Watt’s facilities also accept any “proof-of-work” miner, so WTT token holders have an option to mine Ethereum, Litecoin, and (in the future) other cryptocurrencies. WTT token holders can use their tokens to accommodate their own mining equipment– for which they would need to buy the number of tokens equal to their mining equipment’s total power consumption (according to the manufacturer’s specifications), or to rent out their extra or unneeded tokens to other miners for their hosting needs.

The groundbreaking concept of the Giga Watt Project opens up industrial mining to anyone, from massive wholesale mining operations to small “home” miners across the globe, for whom this market has forever been unattainable because of the vast resources needed to enter it. Through the WTT tokens now offered for sale and thanks to the Giga Watt’s groundbreaking propriety design retail miners can now also benefit from economies of scale. The technical infrastructure arrangements allow to scale up the capacities at record speed, and the first mining units can be operated while the new ones are still being built.

The first construction stage has already been completed and the first units are already actively mining. By the end of the token launch, a total of 5.4MW of capacity will be available to host the mining equipment of the holders of the first batch of tokens. The construction of the remaining nearly 30MW is scheduled to be completed by mid-November. The tokens of batches 2 through 6 will be issued to the holders as their underlying capacities are built.

On Friday June 16 the price of WTT will go up to $1.05. There is still time to get them at the initial price of $1.00/token.

Token Launch web site – https://cryptonomos.com/

Giga Watt web site – https://giga-watt.com

Whitepaper – https://cryptonomos.com/wtt/white-paper.pdf

Bitcointalk discussion thread – https://bitcointalk.org/index.php?topic=1914900.0

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