Financial NewsBitMine – giving the world a second chance!

BitMine – giving the world a second chance!

  • This article has been compiled to introduce the BitMine mining project and its structure, features, and mission.

Califonia, USA, 23 July 2021, ZEXPRWIRE, BitMine is a token that provides environmentally friendly mining using an Automatic token Reward-Generation Protocol termed “Digital Mining.

BitMine is a digital token based on the Proof-Of-Stake consensus. It is decentralized and works on the BEP-20 (Binance Smart Chain) protocol. Binance Smart Chain is one of the best trusted, fastest, and most secure blockchains, which works parallel with the Binance Chain. It uses peer-to-peer technology to operate with no central authority or banks. The network carries out the transactions collectively. There is no central control over the token. The liquidity of the token is locked forever. The team only holds 0.4762% of the total supply. All transactions at this address will be public and will be used for marketing purposes. Bitmine is open-source, community-driven, and decentralized. Developers are all volunteers. Bitmine community and developers are working towards mass adoption of the currency in real life.

Total Supply

The total supply of Bitmine is 21,000,000 BMF. The same as the total supply of Bitcoins. Of these, 1,000,000 BMF will be pre-mined. These tokens will be used to provide liquidity on different exchanges as well as for marketing.


BMF is a minable token. The mining reward is directly proportional to blocks generated on the Binance Smart Chain. Therefore, the rewards each holder will receive will depend upon the number of tokens they are holding. Unlike bitcoin mining, where you need to mine the tokens using highly expensive hardware miners, you need to hold tokens in your wallet with proof of stake, and you will receive the mining reward automatically in your wallet.

With Bitmine, each mining phase has a halving interval, after which the block reward will decrease and the time per block will decrease. Thus, there are four phases of mining: 

  • Phase 1: In the first phase, the reward for each mining interval is 200 BMF tokens. The first phase consists of the first year from the time of deployment of the smart contract. 
  • Phase 2: This will consist of two years, and the reward will be half that of Phase 1. Therefore, the reward will be 100 BMF tokens for each mining interval. 
  • Phase 3: In this phase, the rewards further decrease to half that of Phase 2, i.e., 50 BTC tokens. This phase consists of 4 years. 
  • Phase 4: This phase will have a reward of 25 BMF tokens per mining interval. It is believed that this will be the golden period, as mining rewards will be decreased and total users will be increased.

 BMF Block Rewards 

BMF features digital mining that results in no complex calculations done by heavy energy use machines. Therefore, to achieve its functionality, the BMF algorithm relies on the BSC blocks. BMF generates mining rewards after a specific number of BSC blocks are mined. For example, in the first phase, after six hundred blocks of BSC are mined, one block of BMF is mined, and users receive their mining reward. Because no special efforts are required from any user to mine BMF blocks, all the users receive block rewards according to the number of tokens they are holding. There are a total of four phases for the mining of Bitmine Finance Tokens or BMF. Each phase consists of an estimated time, and a certain amount of BMF mined.


To conclude, Bitmine is like Bitcoin (BTC): decentralized, not controlled by any centralized person or institute, and mineable, but it is also energy efficient and community-driven. Bitmine possesses faster transactions with lower gas fees because of the more efficient Binance Smart Chain algorithms. Moreover, the digitally mineable BMF possesses no harm to nature. On the contrary, it contributes toward a carbon-free planet while repeating history and bringing about another life-changing opportunity for everyone worldwide.

Find out the latest news from Bitmine social networks:

Website | Telegram | Twitter

Media Contact

Company Name:-Bitmine

Email:-[email protected]

Company Website:-

The post BitMine – giving the world a second chance! appeared first on Zex PR Wire.

Latest news

ShipFinex: A Real-World Asset Tokenization Protocol Now Regional Champions of Startup World Cup Pitch Competition

Dubai, UAE, Nov 15, 2022, ZEXPRWIRE, One of the most promising properties of blockchain has been the ability to...

The world’s largest online general merchandiser DollarStore, will start accepting Oduwacoin in their online U.S flagship Store.

“The official cryptocurrency of the  Dollarstore.” Beverly Hills, California, Nov 14, 2022, ZEXPRWIRE, An incredible milestone for the Oduwa community;...

Gulf Xellence to Host World ESG Summit in Dubai, UAE, 21st-23rd February 2023

THE WORLD ENVIRONMENT, SOCIAL & GOVERNANCE SUMMIT “Leading the future through Environmentally Sustainable Growth”Dubai, UAE, Nov 7, 2022, ZEXPRWIRE,...

Chairperson IFSCA delivers a Keynote address on “Policy Dialogue -Directing ESG  Governance for the Financial Industry “at Singapore Fintech Festival 2022

Chairperson International Financial Services Centers Authority Injeti Srinivas was invited to deliver a keynote address on “ Policy Dialogue...

LedgerFi Appoints Dr Abdulrahmaan Al Ansaari as Chairman of the Board

Dubai, UAE, Nov 4, 2022, ZEXPRWIRE, LedgerFi IT Solutions, a Dubai-based web3 and blockchain company announced the appointment of...

ZoidPay to Revolutionize the Web 3.0 Landscape with $75M Investment Commitment from GEM Digital

A $75M financial commitment is set to establish ZoidPay as the go-to open architecture for building the next generation...

Must read

USD 19,500, the new key price of bitcoin to start an upward movement

Key facts: In the past, $19,500 has been a resistance...

Blockchain IDOs and Presales You Should Know About

There’s never a lack of new projects opportunities when...

The 10 rules to prepare for the crypto bear market by the savvy investor

While the Bitcoin and cryptocurrency market reached a record capitalization in...

Latin America’s E-commerce Giant Opens Up To Buying Bitcoin

Bitcoin (BTC) and cryptocurrencies are increasingly accepted every day for...

Binance Welcomes Arbitrum – Ethereum’s Second Layer!

For many months, the Ethereum (ETH) network has faced...

You might also like
Recommended to you