Introducing MBTU

“Our Utility Token”

MinedBlock
Apr 25 · 3 min read

MinedBlock has converted into a “dual token” operation, the original Security Token will enable holders to earn a passive share of our revenue but we have added an additional way to interact with our services through the addition of a utility token which will enable a ‘pay as you go’ element to our mining service.

As part of the additional service we will be offering the ability to rent or buy private mining units in our cost effective facilities. Token holders will be able to leverage our discount levels with hardware suppliers.

The private hosting service will allocate devices to mine directly to customers own private wallets, with management fees paid for each month in MBTU.

Service Offering

A selection of mining packages will be available for users to select from with discounts for multiple units

Initially, only ASIC devices will be on offer but we intend to expand the offering to include custom built GPU rigs in the near future

Example:

Bitmain Antminer S15–28T/H

Available in 1, 3, 6 unit packages with discounts

Larger packages will be available upon request

Private Hosted Mining — Highlights

ASIC miners will be dedicated to you and will mine directly to your own wallet

No maintenance, management or technical requirements

Grow your portfolio privately without any effort

ASIC units can be bought or hired.

We aim to to set up within 24 hours

True ‘Utility’

The MBTU token is an ERC-20 utility token that has a number of uses:

It can be used as a payment method to buy MBTX security tokens

It will be able to be used as payment to buy or rent private mining devices

To pay for operating costs (hosting, electricity, management)

Token Supply

The total supply of MBTU tokens will be capped at 200,000,000

Initial Exchange Offering — 115,000,000

Public Airdrop — 10,000,000

Bounty Campaign — 10,000,000

Airdrop to MBTX Holders — 30,000,000*

Team/Reserve — 35,000,000**

Token price will be $0.10 per MBTU

*MBTU will be airdropped to buyers of the first 30m MBTX Security Tokens as a bonus

**Team tokens will be locked for 12 months after IEO ends

Tokenomics

MBTU tokens will be the only way to pay for our private mining services.

Once MBTU is received as payment, we will burn 10% of each transaction, 50% will be sold at market rate, equally, across all listed exchanges to ensure ongoing availability. The remaining 40% will be retained and distributed as rewards for long term customers.

Reward rates to be revealed

**MBTU will only initially be available through an Initial Exchange Offering (IEO) — watch out for the upcoming announcement**

MBTX Security Token Sale

You can still get involved with our Security Token Offering where you can earn a passive income. Find out more at our website and in the whitepaper

MinedBlock

Written by

This is the official blog of the MinedBlock Mining project

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