Bitcoin Minetrix ICO raises over $10 million for its stake-to-mine platform
Bitcoin Minetrix, a crypto stake-to-mine project, has successfully raised more than $10 million in its initial coin offering (ICO). The fundraising effort has garnered momentum within the crypto community, driven by Bitcoin Minetrix’s distinctive approach to cloud mining.
Currently, in Stage 23 of its presale, the ICO has attracted attention due to Bitcoin Minetrix’s aim to tokenise cloud mining, presenting potential benefits such as increased efficiency and security in the industry.
Priced at $0.0132, the $BTCMTX token allows participants to claim a share of bitcoin mining revenue as a utility function tied to token ownership.
With less than four days remaining in the presale stage, the current token price is set to rise to $0.0133. However, the offer price will transition to the next stage if the target of $10,928,040 is reached before the deadline.
Bitcoin Minetrix positions itself as a unique player in the market, connecting to the Bitcoin mining ecosystem. The ongoing success of the ICO suggests a growing interest in the platform, which aims to be among the first stake-to-earn DeFi to gain significant traction with its stake-to-mine feature, moving the market towards value-oriented products.
Revolutionising Bitcoin Cloud Mining
Bitcoin Minetrix utilises this stake-to-mine system on the Ethereum blockchain, transforming cloud mining into a stake-to-earn model. The platform stands out for its transparency and fraud resistance, conducting all transactions on-chain to eliminate risks associated with traditional cloud mining contracts.
The smart contract technology behind Bitcoin Minetrix automates business logic, aiming to ensure secure and efficient transactions. The platform’s smart contract manages cloud credits, mining allocations and time periods, allowing users to set preferences through a user-friendly dashboard.
Presale Allocations and Crypto Market Developments
Of the funds raised, 42.5% of $BTCMTX tokens will be allocated directly to mining operations. Marketing efforts will consume 35% of the token allocation, aiming to boost project visibility and adoption.
The success of Bitcoin Minetrix’s ICO can be rooted in the growing interest in Bitcoin. ARK Invest CEO Cathie Wood has made a 2024 recommendation for an optimal Bitcoin portfolio allocation of just under 20%, which has risen over 13% from Wood’s Bitcoin optimum allocation in 2022.
As Bitcoin Minetrix progresses, it taps into the growing interest and recognition of Bitcoin’s value within the acquisition landscape.
Bitcoin Minetrix represents a unique venture within the crypto space, offering a novel approach to bitcoin cloud mining and with only 4 days left until stage 23 ends, users have a limited time to get in early to secure $BTCMTX at its lowest price point before it increases.
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