BHP is the Bitcoin Hash Power token
One BHP token represents one terahash of a miner. The number of minted token is always less than miners terahashes IBX owns.
You can always check the number of tokens minted on the blockchain as well as the total terahash in IBX mining pool realtime and the quantity of bitcoins mined every single day.
You can stake your tokens in our mining farms or if you prefer you can redeem the tokens and have the miner sent to the mining farm of your choice.
BHP tokens minted
Terahash backing the tokens
Miners in Iceland USA Canada
BHP is totally transparent
One of blockchain technology’s aims is to improve transparency, any information on the blockchain is there for anyone to check
You can easily check that each BHP is backed by one Terahash of mining hardware by confronting the number of tokens minted at the ERC20 token smart contract address (link smartcontract) with the total hashrate of the miners backing the BHP tokens.
Have a look at the website of BHP mining accounts with Antpool and F2pool you can check realtime the total hashrate and the bitcoins mined every day by the IBX miners. The bitcoins mined are then distributed to the owner of the BHP tokens that are staked in our mining farms net of electricity costs (7 euro cents per kWh) for running the share of the miners represented by each token.
The miners backing the BHP tokens
The miners backing BHP have a high power efficiency. Currently, the miners referenced by the BHP tokens have an average power efficiency of 30Wh per Terahash. This means that when staked at our mining farms each BHP uses 30Wh to run and participate in the Bitcoin mining pool. Currently, the cost (all inclusive of any other costs like floor space, management fees, etc… ) for mining at our farms is 7 euro cents per kWh, this could change in the future according to the market price of electricity. Every week the bitcoins mined by the BHP tokens staked in our mining farms are distributed to the BHP token holders after having deducted the cost of power used by each token.
In order not to lose value, a portion of the Bitcoins generated through the hashrate of the BHP token are allocated to purchase a replacement machine. Replacement costs vary over the years and are not a fixed amount, but can be quantified as approximately 30 percent of the revenue generated by the miner. Each new machine purchased will be allocated to BHP token holders to compensate for the loss of hashrate from miners.
Antminer S19 XP
Hashrate 140 T
Antminer S19j Pro
Hashrate 100&104 T
Antminer S19 Pro
Hashrate 110 T
Avalon 1246
Hashrate 90 T
What if I like to mine on a different farm?
Insight
Redeem the BHP tokens and get the actual miner
You can redeem the BHP tokens and have the miner sent to your preferred mining farm. You need a number of BHP tokens corresponding to the total terahash of the miner. BHP is backed by various miners model: Antminer XP 140T – S19 pro 110T – S19J 104T- S19J100T – Avalon 1246 90T. When you redeem BHP it is up to IBX to choose with which of the miner models to redeem the tokens. IBX chooses a model according to what is available in stock and out of the mining pools, it could be any one of the models mentioned above. You need to redeem an amount of BHP tokens corresponding to total terahash of the miner available in stock.