Russian Miner Coin raised $43 million through an ICO to create a “next-gen ecosystem for miners and investors,” challenging China in this field, reported East-West Digital News. Although the company had previously set a target of $100 million, the amount currently raised is a new record high for the Eastern European ICO market.
According to EW Digital News, when asked about the 50% failure of raised money for the ICO, they responded: “We raised enough to implement our project. We needed only $10 million for the development of Multiclet, our new-generation processor. The remaining amount will be used to produce Sunrise, a built-in security chip. So, we’ve already started our work”.
Tracking Bitfury chips in Russian households will help RMC to discover mining computers. The price of electricity in Russia is lower than that of China, which will help RMC leverage its position in the bitcoin mining market.
RMC said:
“The tokens issued in the course of the ICO will have rights to 18% of the revenue earned with the company’s mining equipment, according to the ICO documentation. Thus everyone will receive “a chance to become the owner of the next-generation miner,” RMC promises.
The ICO market is booming right now, with ICOs being launched in numerous countries, markets and serving in varieties of industries. Although China seems bearish on bitcoin and digital currencies, the ICOs being launched are expected to hit a record during the next two to three years.