Bitcoin had broken through 60,000 USD, surpassed $1,200 billion in market cap. The price of Ethereum also moved above $2,500. Bitcoin mining is an integrated part of cryptocurrency and blockchain technology, and also a long-term investment choice for investors. However, many newcomers know little about mining.
Since last year, traditional capital and mining magnates have surge into the crypto industry. The whole industry had exponentially scaled up, with a higher threshold of participation and a significant increase in professionalism. The halving quotation, low water tide period, iterations of Crypto Miners, and various other events this year have made the development of the mining industry even more challenging.
Under this complex circumstance, risk control is important, especially for miners. New miners need to do their risk control work, while veteran miners need to choose the proper equipment. Platform, cost, and the performance of Crypto Miners are all significant to a sound return. For the average users, how can they participate in mining with the lowest risk and threshold?
What are Bitcoin Mining Power Union and BMU?
Bitcoin Mining Power Union, a decentralize community based on Bitcoin cloud mining, aims to make it possible for everyone to gain their Bitcoin. Bitcoin Mining Power Union will build a professional Bitcoin mining pool and distribute the hashrate through DeFi mechanism, implementing Satoshi Nakamoto’s purpose.
Initially, Bitcoin Mining Power Union will build a mining pool with a total hashrate of 10,000T (3-year limitations) and generate a total of 10 million BMU tokens. BMU holders can enjoy the benefit of mining through the Bitcoin Mining Power Union mining pool.
BMU is a deflationary token. 10% of the mining revenue and 20% of the NFT market exchange fee will be used for the Buyback-and-burn of BMU. The final circulation of BMU will be decided by a joint community vote after all tokens have been released.
The asset allocation for all mining output under the Bitcoin Mining Power Union ecosystem includes,
- 40% for the redemption of the BMU pledgee’s interest in BMU.
- 40% for reinvestment or extension of the statute of limitations.
- 10% for marketing and community incentives.
- 10% for the Buyback-and-burn of BMU.
All Bitcoin hashrate under the Bitcoin Mining Power Union ecosystem will be connected to the top five Bitcoin mining pools, which will issue the access agreements and relevant supporting information to ensure the hashrate under the Bitcoin Mining Power Union ecosystem is real and valid.
All output from the Bitcoin Mining Power Union will be transferred directly from the mining pool to the designated wallets for the encashment of rights and interests of BMU holders, and the project’s ecological development. The Bitcoin Mining Power Union wallet uses a multi-signature mechanism to ensure the security and stability of assets.
There are 2 staking pools available to get BMU
- Single BMU Staking
- Total BMU available: 166,666
- Mining Duration: 10 days
- LP Provider Pool (HT/BMU, HUSD/BMU)
- Total BMU available: 333,334
- Mining Duration: 10 days
Bitcoin Mining Power Union 2.0
In Phase I, Bitcoin Mining Power Union will focus on the financial products itself and the DeFi mining mechanism, and in Phase II, we will move on to the construction of our Union Mall and Free Circulation Market of hashrate.
In version 2.0, Bitcoin Mining Power Union will launch the mining e-commence, allowing major Miner manufacturers, centralized mining service platforms, or other practitioners to issue corresponding mining NFTs. NFT holders can enjoy the corresponding mining revenue. The issuance of hashrate NFTs requires users to pledge a certain amount of BMU or USDT.
Free Circulation Market
NFT holders can evaluate, trade, and transfer their personal mining NFTs in Free Circulation Market to better cope with the uncertain conditions in the market. The platform charges a 1% service fee from NFT traders. 20% of this revenue will be used for the Buyback-and-burn of BMU, 20% will be used to increase Union bitcoin mining power, 20% will be used for the airdrop to platform contributors.
HECO main network: https://bmu.finance
BMU Address: 0xE9CF3eEcd8c367F0824388Fb98da38C962Ae7D7F
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Bengaluru Bytes journalist was involved in the writing and production of this article.