Envion ICO completed

Envion just concluded their ICO. With the amount of funds raised, it became the #6 ICO of all times by raising 100,012,279 USD at the final token price of $1. Incase you missed the ICO, here is an overview of what it is.


Envion raised funds to build portable mining units that mine ethereum and possibly other crypto currencies. Their mining unit is easy to transport, allowing them to be placed anywhere needed. This on its own is nothing revolutionary but they have some cool ideas about cooling and electricity costs. Envion will start mass producing mining units in the spring. Until then, they have a limited hash power. You can however take a look at the mining dashboard to see how the project is doing.

Scalability of an operation like this is quite trivial. They have a contained mining unit that is tested and works. In order to add more hash power, an identical unit is built.


Envion mining unit
Envion mining unit – source: envion

The idea that Envion uses to cut down on electricity is to use renewable energy and use overcapacity of solar energy. During certain times of the day, solar farms produce electricity that gets wasted. Envion wants to tap into this source and buy the extremely cheap electricity and compensate by buying from the grid when needed.

The token

The token is ERC-20 compatible coin, so wallets like my ether wallet should support it just fine. Now, for the fun part of this project – holding the token will entitle the owner to receive payouts of the mined crypto. At the initial stage, payouts will begin in January according to their FAQ and will happen on weekly basis. Payouts will be in ethereum but they are hoping to support other crypto currencies in the future, with a hinted possibility of USD. Should the payout be smaller than transaction fees, the payout will be postponed to the next period to ensure that you are making money.

Based on the website, Envion token will be traded on HitBTC at launch with other exchanges to hopefully follow.