The utility token can be used to pay for BitRiver’s colocation services and will be bought back by BitRiver at original listing price after a five-year period.
MOSCOW, RUSSIA, April 12, 2021 /EINPresswire.com/ — BitRiver, the largest international provider of colocation services for low-carbon cryptocurrency mining, announced today the pre-sale of the BitRiver token (BTR), an ERC-20 utility token that represents one watt-hour (Wh) of power in BitRiver’s colocation facility in Bratsk, a city in the Irkutsk region of Siberia, Russia. Near the end of five years from the date of the token’s public launch, BitRiver will offer to buy back the tokens and immediately “burn” the repurchased tokens.
The token is now available for pre-sale to investors, with a minimum order quantity of 100,000 BTR tokens per order. The token’s public launch, scheduled for April 19, will be held on Bithumb Global, a popular international cryptocurrency exchange, under the ticker symbol BTR. The price of 1 BTR at the time of launch will be US$ 0.3504 and it will be tradeable with BTC, USDT and USDC. A total of 100 million BTR, representing 100 megawatts (MW) of power — the operational capacity of BitRiver’s colocation facility in Bratsk — will be available for the public to purchase.
The BTR token enables its holders to:
● Start mining operations in one of BitRiver data centers.
BitRiver will seek to ensure…
