iM Intelligent Mining (iM), a provider of environmentally responsible energy solutions for powering cryptocurrency mining operations, is delighted to welcome energy veteran Roy Phillips to join its Board of Advisors.
Roy is the founder and CEO of REP Energy, a photovoltaic solar project developer that works with investors and private parties to maximize the opportunities available in the renewable energy business.
With over three decades of experience, Roy’s industry insights will be invaluable as iM continue to shape the landscape of large scale blockchain mining operations.
Roy’s experience has been focused on accelerating the clean energy transition. His previous roles include advising governments, utilities and others across North America in the areas of energy efficiency, renewable energy, and clean mobility.
With rising worries over huge electricity usage in blockchain, the mining sector has recently been facing increasing public scrutiny. iM has come up with a graceful solution that completely shifts the blockchain mining model by establishing autonomous, solar-powered rigs built in the desert and owned by a decentralized network of iM token holders.
iM Intelligent Mining solves the industry pain points around power consumption, environmental damage, centralized block-mining operations, blockchain network scaling, and high barriers to entry for individuals and developing countries.
Short term goals in iM’s roadmap are to establish the first mining farm and build a DApp. Ownership is represented by the iM token, whose holders retain fractional ownership of autonomous mining farms and take 60% of operations’ profit. The utility token also provides staking rewards to the holder over time and can be used to stake in exchanges and liquidity pools.
In addition to mining rewards distributed to the community members, 9% of iM’s profit goes towards community operations, 30% are reinvested, while 1% goes to the iM non-profit, dedicated to further developing hardware, software, and infrastructure efficiencies.
Comment – Roy Phillips
In addition to leading his firm, Roy Phillips contributes to public policy through his involvement on several volunteer boards and committees. He will leverage his energy technology expertise and industry knowledge to provide guidance and direction to iM’s executive team through its continued growth and development as a blockchain mining optimization leader.
iM’s sustainable decentralized solution, the IM Green Protocol, provides an investment structure that begins with solar energy production. It aims to power the blockchain future while protecting the environment and maintaining the economic viability of the industry.
iM’s adoption of green energy will eventually provide the blockchain activity with free electricity and allow all miners/investors to have a hand in energy production.
Crypto-mining activity takes up an enormous amount of energy as permissionless blockchains rely on proof of work to process transactions and ensure network security. Aside from its environmental impact, energy is the main operational cost for miners, and there is fierce competition to come across the cheapest sources of power.
iM’s highly efficient and streamlined operation is built at scale, making its low-cost renewable electricity solution a more attractive option than personalized rigs.
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