Extrabit, a crypto mining company is holding its private pre-ICO sale through which the investors can purchase the token at 50% off. The price of 1 EXB (the official token of Extrabit) is equal to $0.25 in the pre-sale period. The official ICO will begin on May 1st, 2018 and will be composed of three rounds, each offering the EXB at a price of $0.35, $0.45, $0.50 respectively. The ICO will last till May 27th, 2018.
In the past few months, Extrabit has acquired a contract from the local supplier which entitles them to free electricity usage over the course of the initial five years to supplement the mining functionality by virtue of complex hardware systems. After the completion of the initial five years, the company will be entitled to have cheap electricity for a lifetime as per the contract. Having free or cheap electricity would mean low maintenance cost of the platform which will make it more profitable for the users.
The token holders will be paid in Ethereum every quarter till the time they would own the EXB tokens. A total of 95% of all EXB tokens will be available to the public during the ICO period and only 5% will be reserved for developers and bonus. The company boasts of being a profitable mining platform as they have their own mining facility, access to free electricity and professional crypto experts.
The conventional mining hardware is highly expensive but allows more competition for cryptocurrency miners mining which is why Extrabit is currently focused on its ICO to raise funds for mining the hardware. The company aims to raise around $37 million from the ICO. It is not a crypto trading exchange or dedicated crypto wallet so most of its profit is earned from mining BTC, Zcash, and Monero. The company is optimistic about the response and expects their token to be listed in at least 2 major exchanges as soon as the ICO period ends.
Extrabit is also accompanied by a wallet which will be available for download after the ICO period ends. The EXB token is based on an ERC20 token standard which means it can be sent, received, checked of its total supply and tested for the amount that is available on an individual address.
To participate in the pre-sale, the user must invest $20,000 and after the purchase, the tokens will be sent to MyEtherWaller within 48 hours. More information about the pre-sale and the upcoming ICO can be found at extrabit.io.
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