Intelligent Mining (iM), a provider of eco-friendly cryptocurrency mining solutions, has announced the completion of a $2.5 million investment round. The company did not name participating investors, but it included prominent individuals and crypto funds.
Additionally, the decentralized mining operation noted that it intends to open its very first mining operation in Arkansas. Already, the firm has its most recent prototype ready for the flagship facility (1MGw). With years of research and development at hand, iM feels confident enough to capitalize on the industry tailwinds with its new mining system. Streamlining operations will make the operation economically viable and provide revenue for maintenance and growth.
iM’s operation comprises low-cost, independent, solar-powered, and decentralized mining rigs. Equipment is purchased in bulk, and advanced cooling mechanisms are employed. With it, the company will be capable of achieving highly profitable mining operations using renewable energy and reusable infrastructure to benefit the environment.
Notably, there has been increased public scrutiny of cryptocurrencies due to their massive energy footprint in processing transactions and ensuring network security. iM’s solution will now resolve industry “pain points” such as exaggerated energy bills, environmental pollution, and centralized mining operations. Also in this list are blockchain network scaling and high barriers to entry for certain individuals and developing nations.
iM is calling its sustainable decentralized solution the iM Green Protocol. It increases green energy adoption, to provide free power for mining. It also simultaneously allows investors and miners to take part in green energy production.
After receiving a fresh round of funding, iM is now better positioned to acquire mining rigs and optimize its environmentally friendly technology. The company’s target audience includes tech and blockchain investors, early blockchain adopters, and young enthusiasts. It also comprises all those whose values include partnerships, environmental sustainability, corporate social responsibility, and human rights.
To gain ownership of a fraction of iM’s mining farms, interested persons need to purchase the iM utility token. Such persons will also be entitled to a total of 60% of the farm’s proceeds. Moreover, the token gives holders staking rewards and can also be used to stake in liquidity pools and exchanges.
These developments translate to increased mining operations in North America. This is more so because of the Chinese nationwide crackdown on crypto mining facilities, bringing the need to shift to friendlier ground.
Despite the three-month decline in cryptocurrencies value, iM has no doubts about the future of the asset and believes facilities will soon benefit more from them.