Lomiko Metals Inc. (TSX-V: LMR, OTC: LMRMF, FSE: DH8C) announces the launch of Promethieus Cryptocurrency Mining Corporation, a cutting-edge cryptocurrency mining company in partnership with 25% owned subsidiary SHD Smart Home Devices Corporation www.shdevices.com at the Consumer Electronics Show located at the Las Vegas Convention Centre in Las Vegas, Nevada.
Promethieus test mining rig:
Lomiko has invested $30,000 for 25% equity, SHD Smart Home Devices has 25% equity and various partners, including engineers, commercial real estate partners and initial investors will control the remaining portion of Promethieus. The Company has been testing rig designs for optimization of cryptocurrency mining for one month before ramping up to 32 mining rigs, and then, through an anticipated $5 million private financing for Promethius, expanding to 750 rigs to take advantage of currently available space. Due to the fluctuations in the cryptocurrency market, the cryptocurrencies focused on will change from time to time but will likely include Ethereum, Ripple, Monero, Litecoin, Dash, and Z-Cash.
“The approach of most companies in this space has been to rent server farms, build in cold climates, or construct new farms based on currently available parts and products,” stated A. Paul Gill, CEO. “Our approach is from an engineering standpoint – the focus is on creating new designs for cryptocurrency mining – efficiency, cost effectiveness and the longevity of the mining rig units at optimal production is paramount.”
Company representatives are currently available for interviews during the show. Promethieus will provide further details for mining rig economics and design in the coming weeks.
What is Cryptocurrency?
Cryptocurrency is a general name referring to all encrypted decentralized digital currency like Bitcoin, Etherum, Dash, Z-Cash, and Ripple.
Digital medium exchange to ensure integrity and general balance of all ledgers.
Cryptocurrency uses cryptography to create coins and secure transactions.
Cryptocurrencies are open source with public, but encrypted ledgers of all transactions
What is Cryptocurrency Mining?
Cryptocurrency mining is a process of cryptographic calculations
Monetary units of cryptocurrency require certain amounts of work, called Proof-Of-Work
This work is done by several computers called Mining Rigs
The transactions are decentralized and are done in various locations
Typically, cryptocurrencies are open source with public, but encrypted ledgers of all transactions available to all nodes across network.
In the interest of full disclosure, we call the reader’s attention to the fact that Equities.com, Inc. is compensated by the companies profiled in the Spotlight Companies section. The purpose of these profiles is to provide awareness of these companies to investors in the micro, small-cap and growth equity community and should not in any way be considered as a recommendation to buy, sell or hold these securities. Equities.com is not a registered broker dealer, investment advisor, financial analyst, investment banker or other investment professional. We are a publisher of original and third party news and information. All profiles are based on information that is available to the public. The information contained herein should not be considered to be complete and is not guaranteed by Equities.com to be free from misstatement or errors. The views expressed are our own and not intended to be the basis for any investment decision. Readers are reminded to do their own due diligence when researching any companies mentioned on this website. Always bear in mind that investing in early-stage companies is risky and you are encouraged to only invest an amount that you can afford to lose completely without any change in your lifestyle. Equities has been compensated with cash, common shares and/or warrants for market awareness services provided.