The Independent Republic

Envion is now one of the top 10 largest Initial Coin Offerings in history as it crosses $60 million from 23,000 investors. Three days remain on the ICO and Envion is nearing the hard cap. Luckily the coins will trade on HitBTC for those shut out of the ICO or located in countries which are locked out of investing such as the United States. This places Envion into select company with the likes of Filecoin, Tezos, EOS, Bancor and others with EOS now at #13 on coinmarketcap.com worth nearly $7 billion today.

Investing in Bitcoin and Ethereum Mining

Bitcoin and Ethereum are all the rage with prices increasing 1000%+ in 2017 and some labeling 2018 “the year of the altcoin” and investors are rushing to market. All things blockchain seem to catch fire reminiscent of the dot com rush of the late 1990s. Markets are flooded with buyers and some are looking to mining to earn coins rather than purchase. Mining can be time consuming and require large investments for real returns.. Electricity, hardware monitoring, taxes, and heat all are problems faced by miners both large and small.

Envion is looking to get people into mining by focusing on niche markets of finding cheap oversupplied sometimes renewable energy to do the work for investors. They have a patent pending Mobile Mining Unit (MMU) which seems to focus on Ethereum and Bitcoin mining via ASIC and GPUs. Where Envion is unique is they plan to bring the mining to where someone is willing to contract or where they can acquire cheap power. One of these MMUs is currently working away in a testbed undisclosed location described as a factory providing both heat and mining power in anticipation of future launch.

Trading on HitBTC

During the ICO sale no trading is occurring but a launch on HitBTC has been announced for end of January. The current price is $1 per EVN token but that does not indicate where trading may launch or settle. As with any IPO/ICO, initial trading go be up or down from today’s ICO price and comes with some risk.

EVN tokens are based on ERC-20 Ethereum blockachain and will use smart contracts to return income from mining which is stated by Envion to be large. There are two approaches for Envion to make money with the current plan. Contracting to collect a contract rate to install and monitor a miner for an indivdual or company looking to get into mining or use over produced electricity. In this scenario Envion acts like the MMU operator and collects the rate no matter the crypto coin market. Nice stable earnings.

Second, Envion looks to move the MMUs (hence mobile) to locations which oversupply electricity to contract for low power prices and mine. This leaves Envion to the whim of the market and allows investors to “mine” without have to operate and maintain a large mining company. These earnings then are based on the returns from mining minus electricity and transportation costs which then are split with investors.

A Growing Operation

Any miner can tell you that hardware turnover is near constant. Just as an operation gets stable, a new generation of GPUs or ASICs hit the market for the next round of upgrades. With coins rolling in many miners also look to expand. Envion plans on doing just this. By splitting profits with investors it will roll earnings back in tothe operation to create the new generation of miners. They feel each MMU has a cost of $100-150k. With raising $60+ million during the ICO the initial launch promises to be large as they scale up operations.

China a new Customer of Envion?

Interestingly, China may end up the largest customer of Envion. Recently China announced it is cracking down on Bitcoin mining domestically. China is the home of most of the world’s Bitcoin hash power and the largest builders of ASICs with Bitmain the single largest ASIC company. If China follows through on the promise it could push both Bitmain, long rumored to mine with equipment before shipping, and large miners to look for a hosted solution. If Envion and China’s largest miners come together, $60 million will not be nearly enough to host everyone and could create some serious demand.

Risk

This is an early project. Crypto mining is not easy and is quite expensive. With MMUs expected to be all over the map, management and overhead can consume a large portion of any investment. The large influx of funds now needs to be deployed into operational MMUs and get those MMUs onto location and hashing. This should be taken into consideration with any investment. Get updates from Envion on Twitter or at the ICO page which closes in two days or when the hardcap hits. Check out the whitepaper and even the Bitcointalk forum for the tech side and latest updates and rumors. Disclosure – I hold zero Envion.