HydroMiner is a cryptocurrency mining startup that plans to use green energy drawn from hydropower plants in the Alpine region of Europe to mine popular cryptocurrencies.
Their goal is to have the industry’s lowest carbon footprint while at the same time maintain efficient results in the mining process. HydroMiner also plans to expand and acquire even more hydro plants in the future so that smaller investors can invest in cryptocurrency mining and profit. Unlike other startups, the HydroMiner project is already launched for some time now with the operational bases working perfectly.
We recently sat down with Nadine Damblon, the CEO of HydroMiner to have a chat with him about the project as well as finding out his thoughts and insights.
Hi, Nadine. Thanks for joining us today. Can you tell us more about yourself and HydroMiner?
Back in 2014, a friend of mine told me about this thing called cryptocurrency mining. And I will be honest with you, first I didn’t know what to think of it.
After a while, my sister pushed me in this field and I got absolutely crazy for it. And now 3 years later here I am, leading a company focussed on hydro powered cryptocurrency mining.
First off, why did you decide to use the blockchain in building HydroMiner? What can the blockchain do those other technologies cannot?
HydroMiner is helping to decentralize the blockchain mining since currently most mining farms are based in Asia. To your second question, I think blockchain is one of the few technologies that connect people.
Tell us about how you came up with the idea of HydroMiner. Did you face a problem with the crypto mining industry or do you think there is a gap in the market for HydroMiner to fill?
Well, we decided to create HydroMiner after seeing that POW mining will be there for a long time! HydroMiner is mainly focussing to help people be part of the blockchain ecosystem and also, to let the industry players see that eco-friendly mining is a viable alternative.
What do you think is the biggest problem HydroMiner will solve and why is the problem important to solve?
HydroMiner is trying to solve the problem of “small mining operations”, or to state it differently, to enable smaller investors to join profitable mining operations.
In addition to that, we address the unfair payment of most cloud mining operators.
What are the actual performance differences of hydropower mining compared to traditional GPU mining? Are there no differences at all or is hydropower mining more powerful?
HydroMiner goal is to save the environment while enabling those interested in mining cryptos minimize the cost incurred. On top of that, we are using the water from our power plants to cool the mining equipment, greatly reducing our overall required energy and cost.
The most interesting part of HydroMiner is that the mining rigs are literally in the heart of the hydropower stations. How did you guys think of this innovative solution which also cools the rigs if not mistaken?
If you have ever been in the Austrian Alps, you’d probably quickly see the potential of the cold water there, and the possibility to make use of it!
Tell us more about how cryptocurrencies are chosen to be mined in HydroMiner. Are there any specific factors or benchmarks that you look out for when choosing a cryptocurrency to be mined?
Please refer to the in-depth article answering exactly this question: https://www.hydrominer.org/what-does-hydrominer-mine/
What has been your happiest moment so far working on HydroMiner? On the flipside, what has been the most painful, or perhaps the most regretful decision you’ve made with HydroMiner?
The moment after the first mining rig was successfully installed in our first hydro plant! The most regretful decision is probably that we didn’t go big earlier.
In your opinion, how competitive is HydroMiner compared to other mining firms in the industry? How does your business fare up against them?
Companies like Genesis Mining offer hashing power and not energy consumption like HydroMiner which separates us from our competitors. With hash power, you are getting lower profits over time, because the hardware gets outdated. By getting energy consumption, you are actually getting stronger profits over time, because hardware gets more effective!
Editors Pick: Upcoming ICO
Beginners to cryptocurrencies may wonder – where do cryptocurrencies come from? They come from the mining process. Mining is the process in which cryptocurrencies or tokens are generated. Because cryptocurrencies are decentralized which means there are not central authorities like banks to control and circulate the supply, there has to
Can you explain more about the function of the H2O token? Does this mean that tokens can be converted to purchase mining services from HydroMiner?
Each H2O token can be exchanged for a specific period of time (and a specific energy consumption) in which you will be able to use our mining farm. You may choose to use the mining farm for any coins that we offer on our platform.
Why did you make the choice to use the H2O token as the backbone of HydroMiner? Can you also explain more about the process of planning and designing the H2O token to specifically fit in HydroMiner’s ecosystem?
H2O are vouchers for mining time, but over time they may become a leading system for buying mining power. We have carefully constructed them in their current form not to be securities because we see regulators all over the world stepping in and limiting securities token.
What do you think is the biggest challenge or obstacle HydroMiner will face? How do you plan to tackle that challenge?
If all coins turn to POS (proof-of-stake). In that case, we plan to acquire enough coins to be able to participate in the POS program, and thus still earn coins for the investors!
Moving on to more personal stuff, what does a typical day in your life look like?
The usual day starts off with a remote check of how the mining facilities are doing. Once I am sure everything is set and going, I turn to manage business relationships – respond to emails, talk to investors and speak to journalists.
Can you express one personal opinion of yours about the blockchain? It doesn’t matter if it’s negative or positive, we just want to hear your thoughts on it.
I think the bitcoin blockchain is currently in a very early stage, we are all together at the first steps of a revolutionary change in many areas.
Finally, what other personal goals (besides your career) do you have in life? Is there anything else in life you want to achieve?
One day I want to retire to a small island and do nothing but Yoga.
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