Giga Watt Token Launch announced today that they’ve sold over 14.4 million tokens in their crowdsale, enough to build an additional eight mining buildings. Along with the construction of eight new mining buildings, one of the three already-functioning mining centers will undergo expansions and renovations.
The Washington state-based Giga Watt facility allows anyone to participate in cryptocurrency mining through the WTT token, making attainable what has traditionally been an expensive, resource-reliant endeavour. WTT tokens represent the right to use the Giga Watt processing center’s capacity rent-free for 50 years, to accommodate 1 Watt’s worth of mining equipment power consumption. Token owners can use this capacity to accommodate their own miners, or can rent out the WTT token to other users.
Giga Watt’s state-of-the-art facility in Wenatchee allows Bitcoins to be mined for under $600, significantly cheaper than their online purchase price of nearly $3,000. Access to inexpensive energy makes the location particularly economical, especially compared to many East Coast cities where interest in digital currencies is rising rapidly. Launched in partnership with Cryptonomos on June 2, 2017, the 60-day Giga Watt token sale has raised $14.7 million and counting.