As the white paper notes, SOLminer, which has also created a shipping container cryptocurrency mining rig called SOLminer Cube, has an excellent track record of building reliable cryptocurrency mining farms; specifically, they have had a 99.997 percent uptime since June, 2017.
By mining cryptocurrency, the white paper explains, SOLminer will generate income, which will then be used to grow a mining farm and solar array. A large portion of the funds that are raised will be allocated to the cryptocurrency mining farm, as well as the electrical sustainability of the operation and the use of solar power.
Initially, the white paper notes, SOLminer will invest 20 percent of the funds that are raised toward this goal; over time, they hope to produce enough solar power to cover 100 percent of the energy usage during daylight hours.
"The income will also be used to buy back SOL tokens at the market price, or an exchange, in order to burn (i.e. destroy) them," the white paper notes, adding that burning tokens will reduce the supply that is available in circulation, which in turn will increase the value of the remaining tokens.
"We will buy and turn tokens on a monthly basis after the Initial Token Offering. The amount bought and exchange used will be listed on our website in the last week of the month."
SOLminer has been building and selling modular mining rigs since mid 2017. They noticed how the ICO market was full of fraudsters or projects pitching unfulfillable dreams. The founders of SOLminer decided to create a 100 percent U.S. SEC compliant token with an easy to understand value proposition. SOLminer built the SOLminer cube to prove their capacity to deliver on the project they're proposing as well as to show that they are personally invested as well. For more information, please visit https://solminer.io/.