Elite Mining Inc is a dynamic cryptocurrency mining operation, hailing from Washington State. It takes a business acumen and operational excellence to compete in the world arena of cryptocurrency mining. The firm has recently announced the launch of its equity backed security token offering.

Elite Mining Security Token Offering

The firm has launched its Series A equity-backed security token offering round in order to raise around 6.4 million dollars for expansion of its cryptocurrency mining operations. The tokens bear real equity in the company and entitle an investor to possible dividends distributed  via a smart contract.

The tokens will be issued as per a SAFT agreement and will be offered in a private placement. The funding round is being conducted under the SEC exemption; Reg D 506 (c) to accredited US investors and under Reg S to non-US investors. The Series A round will continue for 5 months or until a hard cap is reached. The minimum investment amount accepted is 7,500 USD. Further, the investors who buy tokens early will get larger discounts resulting in additional tokens for the investor.

Also Read: Russian Billionaire ‘Vladimir Potanin’ to Create Palladium Backed Tokens

What Will Funds be Used For

Elite Mining Inc is bringing an entirely new model to the mining industry. It will allow us to effectively become the leanest possible version of a large scale mining operation while solving the largest pain point of the mining industry — using clean energy at scale.

The firm use its Series A funds to:

  • Build out our main facilities;
  • Deploy raised capital to mining;
  • Purchase and deploy solar power to further reduce our costs and realize the vision of green mining.

Elite Mining Inc aims to become the largest green miner in the world by using hydroelectric energy. Their goal is to reach 99%+ clean / renewable energy at scale. The firm has established long term contracts which in turn allows them to have access to the power required to mine a notable amount of 100+ Bitcoin a day.

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