TL;DR:
We are developing an open platform that allows anyone to mine bitcoin from just $100, leveraging affordable, green, and renewable energy. Set to launch on the Stacks network, users can mint NFTs representing fractional ownership of mining hardware and operations, and immediately receive daily Bitcoin yields, distributed as sBTC.
Users can also choose to immediately use their BTC to mine STX.
Hello folks,
I have been a part of the Stacks community and been reading this forum since last year. This is my first post to introduce our project, and I’m looking forward to your feedback, support and also exploring possible partnerships.
Background
Certain countries and geographical areas, such as Indonesia, have an excess of renewable energy (like hydro power from rivers) that is underutilized due to limited electricity demand.
We have access to excess power from hydro power plants in Mount Leuser National Park, Aceh, Indonesia.
Here, the electricity cost is less than 4 cents per kilowatt-hour, which is cheaper than the average cost for large mining companies like TerraWulf in North America. Furthermore, the cost decreases as we scale up operations, tapping into the potential of over 100MW of untapped hydropower energy in the area.
Problems we aim to solve:
- Centralization of Miners
Most newly minted BTC is produced by large mining corporations. These companies can access electricity at lower costs, allowing them to produce more Bitcoin.
- High Capital Requirements
Long time ago, anyone could mine bitcoin using their home computers. Today, however, profitable bitcoin mining requires high-end specialized hardware costing thousands of dollars.
And unless you’re a major mining corporation with billions of dollars in funding, scaling operations to accommodate hundreds of Mega Watts of electricity is almost impossible.
- Mining Profitability
While miners are essential for the Bitcoin network, mining isn’t for everyone. There are many elements to consider: sourcing components, assembling hardware, installing and tweaking mining software, maximizing yields, and managing operations.
Furthermore, regulatory issues in some countries make it difficult for ordinary people to participate in mining. In many parts of the world, especially developed countries, electricity prices are expensive, making mining unprofitable.
- Geographical Mismatch of Renewable Energy
The transition to green energy is a global priority as we aim to reduce reliance on fossil fuels and combat climate change. However, the problem with renewable energy is not about supply but geographical mismatch. Areas with the most potential for energy generation, like hydropower, often have low demand because of sparse populations.
This situation leads to capital inefficiency and slow adoption due to high infrastructure costs and low immediate demand.
Solution we’re building: Lokaverse Bitcoin Mining Platform
- Decentralizing Mining
Our platform uses Non-Fungible Tokens (NFTs) to fractionalize mining hardware and operations. We aim to connect smaller mining companies/operators with direct access to power plants, allowing them to sell fractional ownership of their machinery to anyone globally. We believe everyone should have access to Bitcoin mining.
- Affordable, Profitable, and Scalable
Lokaverse’s Fractional Mining Hardware NFTs start at $100, promising a return on investment in less than 2 years (> 50% APR) for retail users*. By opening participation to all, operators can scale faster, absorb more excess power, and further reduce electricity costs.
*) on BTC price = $28K, using the latest S19 Bitmain ASICS machine, with electricity cost $0.04 / kWH
- Easy Access, Instant Yield
Users won’t need to wait for hardware to arrive or set up mining machines. They can mint Lokaverse NFTs on the Stacks network and stake them to receive daily BTC yields as sBTC immediately.
- Tapping into Renewable Energy, directly from the Sources
We’re starting with our sister company, which has been operating its mining facilities since 2017. The facility is located directly within the hydro power plant in Mount Leuser National Park. Retail miners (NFT buyers) will be able to monitor the efficiency of their mining hardware, electricity usage, and have direct access to CCTV feeds of the mining facility.
Some (probably) useful info
- We were late to apply Stacks Accelerator January batch, and hopefully can enter this batch
- My co-founder and I are joining BTC Startup Lab this cohort
- The prototype of this project → https://lokaverse.io
- We plan to launch our platform together with sBTC release Q4 this year
- We secured funding from our partner-investor on mining hardware operations for the first 1 Megawatt (allowing us to produce and distribute 0.1 BTC/day from day-1 launch)