iM Intelligent Mining (iM), a provider of environmentally responsible energy solutions for powering cryptocurrency mining operations, has announced the conclusion of a $2.5 million financing round.
iM didn’t name entities involved in the growth funding round, but the list of investors included several prominent individuals and crypto funds.
Looking to seize on the moment, iM revealed plans to launch its first mining facility in Arkansas. The company has already completed its newest prototype for the flagship farm (1MGw).
After years of research and development, iM is uniquely positioned to capitalize on industry tailwinds with its new system, which incorporates autonomous, solar-powered, and decentralized mining rigs. The company has devised a fully renewable ecosystem and reusable infrastructure to enable highly profitable blockchain mining without harming the environment.
With fresh capital in hand, iM is poised for further growth with these funds set to go toward the acquisition of mining rigs and optimization of its renewable energy technology in those warm conditions.
iM’s target audience includes blockchain and tech investors, early adopters, young enthusiasts, and those driven by sustainability, collaboration, corporate social responsibility, and human rights.
Ownership is represented by the iM token, whose holders retain fractional ownership of autonomous mining farms and take 60% of operations’ profit. The utility token also provides staking rewards to holders over time and can be used to stake in exchanges and liquidity pools.
This milestone also hastens the migration of more global mining power to North America. With the Chinese government’s recent crackdown on mining facilities, the landscape appears to be shifting.
IM is feeling good about the future of cryptocurrencies despite the decline in the value over the last three months. The company is confident the door is opening for facilities nationwide to get a bigger piece of the daily pie.
With rising worries over huge electricity usage in blockchain, the mining sector has recently been facing increasing public scrutiny. iM has come up with a graceful solution that completely shifts the blockchain mining model by establishing autonomous, solar-powered rigs built and owned by a decentralized network of iM token holders.
iM Intelligent Mining solves the industry pain points around power consumption, environmental damage, centralized block-mining operations, blockchain network scaling, and high barriers to entry for individuals and developing countries.
iM’s sustainable decentralized solution, the IM Green Protocol, provides an investment structure that begins with solar energy production. It aims to power the blockchain future while protecting the environment and maintaining the economic viability of the industry.
iM’s adoption of green energy will eventually provide the blockchain activity with free electricity and allow all miners/investors to have a hand in energy production.
Crypto-mining activity takes up an enormous amount of energy as permissionless blockchains rely on proof of work to process transactions and ensure network security. Aside from its environmental impact, energy is the main operational cost for miners, and there is fierce competition to come across the cheapest sources of power.
iM’s streamlined operation is built at scale, making its low-cost renewable electricity solution a more attractive option than personalized rigs.