February 9, 2018
By: Payment Week
LONDON, Feb. 9, 2018 /PRNewswire/ — A newly published legal and financial audit of virtual currency Ormeus Coin has revealed one of the largest industrial crypto mining operations in the world.
Ormeus Coin (asset symbol ORME) is a ground-breaking digital money system secured and cryptographically linked to a publicly identifiable currency vault funded by a $250 Million industrial-scale mining business in North America.
The audit conducted by a leading law firm reveals purchase receipts and revenue streams from the mining operation which is already making USD$6.7 Million per month.
The independently commissioned white paper on the new virtual currency entitled, ‘Ormeus Coin: The Tokenization of Industrial Cryptocurrency Mining’ is published today, (February 9th).
The paper, available at ormeuscoin.com, describes how the new currency is tied to the mining farm and the Ormeus Reserve Vault (ORV) through proof of asset technology and self-executing Ethereum Blockchain smart contracts, (ERC20 compliant).
Ormeus Coin has commenced its cryptocurrency mining operation through private investment and is not seeking public money through an Initial Coin Offering, while the reserve vault is currently being enhanced to act as a DAO – Decentralized Autonomous Organization.
By using a proprietary Artificial Intelligence engine, the Ormeus Coin mining hardware can be allocated instantly to mine a variety of mainstream crypto coins such as Bitcoin, Litecoin and Dash.
Cryptocurrency Mining is the process of confirming transactions on a Blockchain for the likes of Bitcoin and generating new units of digital currency in return for a financial reward.
Bitcoin miners alone are making around USD$600 Million per month in mining, plus additional transaction fees which can total USD$22 Million per day, (i.e., December 22nd 2017).
Due to considerable renewable energy capacity and a cost-efficient rate for mining and data center operations, Ormeus Coin will be propelled into the top ten crypto mining operations in the world.