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Is Minto Hardware-as-a-Service? You Buy Hashrate, And You Don't Care How Mining Works.

May 19, 2022
min. read

Hardware-as-a-service (HaaS) is a procurement model that is similar to leasing or licensing in which hardware that belongs to a managed service provider (MSP) is installed at a customer's site and a service level agreement (SLA) defines the responsibilities of both parties. Sometimes the client pays a monthly fee for using the hardware; sometimes its use is incorporated into the MSP's fee structure for installing, monitoring and maintaining the hardware. Either way, if the hardware breaks down or becomes outdated, the MSP is responsible for decommissioning it and replacing it.

(The definition from TechTarget)

Bitcoin mining has brought humanity an amazing opportunity to make money from electricity. At the same time, few people really understand how it works. Indeed, in order to make a profit, you do not need to be an outstanding cryptographer, and that’s only fair. Just like in everyday life there is no need to know how the TV set works in order to watch the news,  to understand banking technologies in order to pay for purchases, or to understand what is going on inside the computer in order to use it. It is human nature to reduce the distance between the need and the result, and the entire global industry serves this simple aspiration.

When mining first appeared, it was new and amazing. Remember the feeling when you received your first bitcoins. When mining hardware appeared, the process became even more exciting, because the profit got closer. Isn't it a miracle that an iron box is able to make money? It was a pleasure to serve it, protect it, and take care of it like a capricious pet. But a little more time has passed, we have grown accustomed to daily profits, and any interruptions are perceived as lost profits now.

Would it be better to entrust the miner to professionals? - you wonder because you no longer enjoy this constant fuss. This pet is really noisy, it requires attention, has an excellent appetite, and sometimes its health lets it down. And what if there is a whole pet farm? The more hardware, the more vulnerable the whole enterprise is, and it requires both maintenance and protection. Serious money always arouses the unnecessary interest of dishonest people, and not everyone can fight them off alone. Thus, security becomes another line of expenses and a source of headache.  Wouldn’t it be great to eliminate all these extra links in the chain between you and the money, getting rid of the costs of farm life?!

You made up your mind. Your farm is moving to hosting. Other people will take care of profitability now, and you are ready to pay them commissions. The extra links have been eliminated, the money has come even closer. But new concerns emerge at this point. Who are these people, and what will happen if they simply disappear? After the first failure and the first repairs, you wonder why the repairs took so long. You want to know whether the staff is truly responsible because you, on your end, do pay for electricity regularly. Sometimes it even starts to seem that this is all wrong, and you want to backtrack, but the hosting contract involves a significant penalty. So you must be patient and wait.

So are there ways to further reduce the distance between mining and money, or is it an illusion? How can you bring the money closer, without paying for it with anxiety? Hosting is only a partial answer to this question, and the fact is that it doesn’t rid you of the hardware at all. The miner will never let you relax as long as you own it. At the same time, you don't really need the box itself, you need the computing power hidden inside. How can we make it work so that we only own the hashrate, while the hardware is handled by professionals who can reduce costs due to volume and infrastructural advantages?

Imagine a verified data center entirely focused on effective miner management. The data center offers a certain standard of energy efficiency, uptime, and costs. The data center hashrate is at your disposal. You no longer need to own hardware to earn mining income. You buy hashrate, and you don't care how mining works. As if you threw out the TV set, thus reducing the distance between yourself and the film you so wanted to see.

HaaS or purchasing

How to buy hashrate? The data center offers a simple tokenized hashrate formula: 1 TH/s = 100 BTCMT (Bitcoin Mining Token). In order for your hashrate tokens to start earning, they must be sent to staking in the Minto DApp according to all the DeFi rules. Minto is a project that provides $BTCMT emission and tokenization of data center mining power in an F2Pool. The first 100 days of staking brought users 137% APR. This is how tokenized mining responds to the numerous concerns of hardware  owners.

There is no need to take care of tokens, their price already includes this care. A token cannot break down and temporarily stop making a profit while it is being repaired. Token purchase doesn’t require contractual obligations, registration or a personal account on any resource. BTCMT tokens are an exceptionally liquid asset traded on PancakeSwap. With a certain skill, you can actually trade your hashrate, profiting from mining as well as from exchange rate fluctuations. Thus, the Minto project reduces the distance between you and your money to a minimum, eliminating all the unnecessary links from this chain.

Minto is the first step towards the formation of a new market of mining power that is unrelated to specific hardware. When buying BTCMT, you don't really think about what equipment is used and in what part of the world mining takes place. You just buy the terahashes you need and get a stable income from staking - and you can always sell them if necessary.

Join Minto and forget about hardware. Minto is HaaS in the form that other industries are still dreaming about!

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