Frequently Asked Questions
Yes, the KWATT token is based the ERC-20 token standard and Ethereum-powered smart contracts. Once the blockchain is developed, the token will be swapped out for the KWATT coin which will interact with the blockchain. The total token offering is three hundred million tokens (300,000,000). This is the hard cap limit for the crowd sale offering. Each KWATT Coin represents 1 kilowatt of electricity per year.
The mining operation produces a lot of heat, resulting in a higher-than-usual malfunction rate. Cooling costs to keep the devices at normal temperatures are about one fifth of the total power consumption.
The mine’s total footprint is between 24-40 tons of CO2 per hour. This mean the total energy consumption of the Bitcoin network processes about 200 tons of CO2 per hour at minimum. The footprint could be significantly reduced if the source of energy is substituted for a greener method.
Bitmain’s plant consumes 40 megawatts per hour (approximately 5% of the total Bitcoin output), the same output capacity of the 4NEW plant. Therefore, it is possible for our operation to scale in the same way. At approximately 5% market share of a $20 billion Bitcoin mining sector, the projected market capitalization of 4NEW revenues is roughly $1 billion.