Bitcoin Mining Facility Giga Watt Raises $22m in Token Crowdsale

The Giga Watt token crowdsale, providing access to the crypto mining operation founded by former Microsoft engineer Dave Carlson, has successfully raised $22.3 million. The funds are now being held in escrow by international law firm Perkins Coie.

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“We’re overwhelmed by the support from miners and the larger Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term community in this endeavour to democratize access to cryptocurrency mining,” said Dave Carlson, founder and CEO of Giga Watt. “As the price of Bitcoin grows and attention expands to Bitcoin Cash, Ethereum and more, we provide unparalleled access for those seeking to participate at the ground level.”

The Washington state-based facility allows investors to participate in cryptocurrency mining through the WTT token. The tokens represent the right to use the Giga Watt processing center’s capacity rent-free for 50 years, to accommodate 1 Watt’s worth of mining equipment power consumption. Token owners can use this capacity to accommodate their own miners, or can rent out the WTT token to other users.

Giga Watt’s facility in Wenatchee benefits from access to inexpensive energy makes the location economical compared to many other US cities. The facilities also power any proof-of-work miner, so WTT token holders will also be able to mine Ethereum, Litecoin, and additional Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term in the future.

The Giga Watt token sale was launched in partnership with blockchain crowdsales solution Cryptonomos.