About Miner – The Gold Mining Token – White Paper – June 4, 2018, Revised October 27, 2020
MINER is a utility token that tokenizes the service of gold mining. We mine gold for you, on demand.
The Miner Network contracts with service providers to mine and refine gold, facilitate the digital storage and exchange of mining labor minutes in the form of MINER tokens, and deliver 24 karat gold bars, upon redemption, to Miner Network members.
Each MINER token represents one minute of mining labor at an in-network gold mine. When a member redeems tokens, we mine, refine and deliver 24 karat gold bars directly to the member.
100 percent of profits from Miner are pledged to fund and support the Origin Trust Foundation (origintrust.org), a not-for-profit research institute whose intention is to help reframe, rethink and redesign our civilization’s ways, turning our species towards a conscientious, regenerative future.
The MINER Token
A token is simply a symbol or representation of something else. “Token” in the modern sense has come to mean what was once called a “coin token”—for example, private coins that can only be redeemed to play games at a game arcade. Similarly, MINER tokens can only be redeemed for in-network services; it is a digital voucher for those services.
Each MINER token represents one averaged Miner Network employee minute of mining labor.
Only Miner Network members can acquire tokens. Members may redeem their MINER tokens (in sufficient quantity) for the provision of mining services and subsequent delivery of the products of those mining services: namely, physical gold bars.
At present, Miner gold is refined into 9999 fineness (24 karat) bars, to be delivered in one of three formats: 1 troy ounce, 1 kilogram (32.15 troy ounces), and/or banker’s bar (12.4 kilograms/400 troy ounces).
MINER is an ERC-20 token, implemented as a smart contract deployed on the Ethereum blockchain. Ethereum is the second largest public blockchain network (after Bitcoin). It is a mature, tested, proven protocol and one of the largest open-source projects in the world, with approximately 150,000 active developers. Approximately $45 billion in tokenized assets reside on the Ethereum blockchain (as of February 2020, source: ConsenSys).
Governance and Parties
Due to the logistical complexities and necessities of physical mining, the Miner ecosystem is necessarily a managed one, which relies on various parties to govern and create a reliable, stable mining service. The key parties comprising the ecosystem are:
The Miner Network: The Miner Network is a private member association whose mission is to assess and address the challenges that our mining supply chains present, and to apply responsible technology and 21st century approaches to meet those challenges. To serve this mission and self-fund, the Network facilitates the tokenization of precious metals mining and other resource-based services. The Miner Network also contracts and partners with select organizations to provide additional services, information and tools of value to members.
Membership in The Miner Network is a prerequisite for acquiring mining labor minutes, trading those mining labor minutes (in the form of MINER tokens) with other members on the private Miner exchange, redeeming MINER tokens, and availing themselves of member services. As a responsive organization, the Miner Network actively engages with our membership in order to develop and deliver innovative solutions in a rapidly changing world.
Beyond providing these valuable services to members, The Miner Network champions three specific objectives:
- Mindful mining. To provide ethical and environmentally conscious mining practices to the maximum extent possible, and to exemplify and encourage such practices throughout the mining industry.
This means fair, safe and healthy labor practices, environmentally aware mining techniques, and active development and implementation of new technologies that mitigate the environmental impact of mining and clean up existing mine sites.
The Miner Network’s mandate in particular is to frame ever better questions about, and develop ever better practices for, how a responsible society cleans up what is, especially environmentally, the dirtiest business in the world.
- Ethical tokenization of labor. To deliver and exemplify an ethical, legal, well designed and carefully crafted utility token.
The digital token space and those participating in it have been harmed in recent years by rampant opportunism, illegal activities, and poorly conceived and/or poorly developed platforms. The Miner Network takes a stand for the lawful, ethical tokenization of labor services as a means of valuing society’s greatest asset: the power of human potential.
- Maximum impact investment. To help bring about a world that works for all living beings, by funding and supporting the Origin Trust Foundation (org).All assets and profits (100%) derived from the efforts of The Miner Network, including the MINER token, Miner mines and the Miner Exchange, are pledged to Origin Trust Foundation to support its goals to serve as a global nexus for the kinds of groundbreaking, positive transformations that will bring about a planetwide reboot and new renaissance for humanity.
Miner Network Members: Membership in The Miner Network is open to both individuals and organizations. Members include precious metals miners; refineries; electronics manufacturers; jewelers; impact investors; software developers; fund managers; blockchain enthusiasts; new economists; environmentalists; people interested in the topics of responsible natural resource extraction and/or the tokenization of labor-based services; those who are keen to support Origin Trust Foundation and its initiatives; and anyone wishing to acquire mining labor minutes and redeem them for mining labor services, using the MINER token.
Miner Mint: Miner Mint Ltd. (the “Miner Mint”) is the MINER token issuer, with registration in the British Virgin Islands. The Miner Mint is responsible for facilitating the issuance and processing of MINER tokens, the on-demand redemption of MINER tokens for the performance of mining labor, and the subsequent delivery of refined gold bars to Miner Network Members.
Miner LLC Mines: Miner LLC Series 3 and Miner LLC Series 4 own and manage gold mines and mining operations to provide mining services, as transparently and as ethically as possible, to The Miner Network ecosystem.
Miner Exchange: The Miner Exchange (presently in development) will allow Miner Network Members to privately and securely trade MINER tokens for digital currencies on a user-friendly, decentralized (peer-to-peer) platform.
Miner Treasury Board: The Miner Treasury Board manages the supply of MINER tokens and gold inventories in the interests of the long-term viability of the Miner ecosystem, ensuring mining labor minutes are sold according to the best interests of The Miner Network and its members. The Miner Treasury Board is comprised of a Miner Network member representative, board members of in-network mine operators, and professionals from the financial and blockchain technology sectors.
The Ultimate Hedge in a Bubble Economy
Gold is the historically-proven hedge in times of economic instability, and well-designed digital assets may prove a worthy hedge as well. In the present global debt bubble, the financial world is in debate as to whether precious metals or “crypto assets,” as they have come to be known, provide a better store of value to hedge against volatility and economic collapse. The MINER token, representing mining labor, incorporates the best of both worlds for protection in an economic bubble: physical gold extraction and delivery, coupled with the functionality and fluidity of smart contracts and distributed ledger technology.
All central bank currencies diminish in value over time and eventually crash, while gold holds its value. An ounce of gold has the same purchasing power today that it did 50, 100 or 500 years ago.
Holding physical precious metals does have its drawbacks, however. It requires secure storage such as a vault or a safe deposit box (which also has the drawback of reliance on banks), it can be difficult to spend, and portability and divisibility are challenging.
Crypto assets provide an alternative, modern hedge in our current bubble economy. They offer the same as or better utility than fiat currencies (the currencies issued by central banks that we use every day)—specifically durability, portability, divisibility, uniformity, acceptability, and limited supply—without dependence on the sort of centralized (mis)management that has led to our present global monetary crisis.
Distributed ledger (aka blockchain) technology allows people to store, transport, divide, and exchange value without the need for an intermediary or bank.
The well-established blockchains such as Bitcoin and Ethereum have, thus far, proven to be far more hack-proof than conventional digital systems, and they grow stronger with each passing year. Transactions are swift, private, and unhindered by national boundaries. The systems are peer-to-peer and trustless, meaning that there’s no third-party intermediary required to facilitate a transaction. In short, crypto assets are superior to fiat currencies in just about every way.
As a relatively new technology, crypto assets are not without their own set of unique challenges. While blockchain transactions are highly secure, some onramps and offramps (centralized crypto exchanges) are potential points of security failure. Internet fraud strategies such as phishing, a technique for gaining fraudulent access to private key codes and other personal data, present further security risks. And crypto assets are not yet as easy to use as a bank account because there’s no banker in the middle. The Miner Network addresses these issues by providing members with a secure, decentralized, in-network crypto exchange (eliminating the risks of centralized exchanges) and exceptional customer service (in a time when good customer service is otherwise becoming extinct).
With the combined benefits of both distributed ledger technology and physical gold extraction, MINER creates a superior store of value, especially in our uncertain economic times.
The Gold Solution
|“Of all the minerals mined from the Earth, none is more useful than gold. Its usefulness is derived from a diversity of special properties. Gold conducts electricity, does not tarnish, is very easy to work, can be drawn into wire, can be hammered into thin sheets, alloys with many other metals, can be melted and cast into highly detailed shapes, has a wonderful color and a brilliant luster.”
[Hobart M. King, Ph.D., RPG, The Many Uses of Gold, geology.com]
“About 78% of the gold consumed each year is used in the manufacture of jewelry.”
While individual demand for gold is well-established, people face numerous difficulties in obtaining gold for personal use. Gold sellers such as jewelers, coin traders and pawnshops charge a very high premium over the spot price of gold, and the purity, provenance and impacts on both the environment and human rights from gold extraction methods are often very questionable. “Paper gold” investment schemes, such as gold ETFs, gold IRAs and gold certificates, seldom if ever result in physical gold delivery. Electronics manufacturers and other industries continue to require a steady supply of the precious metal. The barriers to entry into mining operations (cost and expertise, among others) typically prevent people from mining their own gold.
Miner solves these problems by providing mining labor directly to Miner Network Members, who can quickly and easily redeem tokens for mining labor on demand, as they require. On-chain sale of mining labor minutes, the issuance of MINER tokens to represent those minutes, subsequent redemption of the tokens, performance of the labor of gold mining and refining, and direct delivery of the physical product provide a new mechanism for obtaining gold supply in a direct, ethical and more environmentally responsible way.
A Solution for Digital Currency Holders
“Mining” in the digital currency space usually refers to the digital mining of a digital coin (e.g. Bitcoin), in order to generate that coin and expand its global supply. In the world of the MINER token, though, mining means the service of exploration for physical gold, extracting it from the ground, refining it to 9999 fineness and, once these services are complete, delivering 24 karat gold bars by secure courier. Mining in this traditional, physical sense of the word is labor-intensive work. It requires capital, technology, heavy equipment, knowhow, and good management. Above all, though, results are achieved through the intense application of labor by individuals. The most valuable resource in this equation is the labor, which is measured in units of time, the mining labor minute.
With the introduction of Bitcoin in 2009 and the addition of numerous other blockchain-based currencies and platforms—notably Ethereum—over the past 11 years, we now have many decentralized options for payments and stores of value, as well as many other blockchain-based solutions that perform unique functions in their own right. These new options allow parties to freely transact, directly and in a decentralized manner, without the need for a trusted third-party intermediary (such as a bank). This system bypasses excess costs and payment uncertainties that were previously only avoided by using physical cash. With blockchain solutions now in place, meeting new demands and expanding in scope, it’s quite clear that blockchain technology is here to stay and will strongly affect how we circulate our goods and services globally in the years ahead.
One challenge for the digital currencies such as Bitcoin is the difficulty of determining the value of a coin or token that is not created, managed or backed by a central entity like a bank or a government. They have no intrinsic value; their value is determined by supply and demand, market perception, confidence and speculation. The same may be said of fiat currencies. However, fiat currencies are widely used and relied upon, and people have the impression they’re backed by something (even though they’re not). This is why fiat currencies appear to remain somewhat stable over extended periods of time; people believe in them, even though they may be steadily losing value through inflation and will ultimately crash (as they have, for recent examples, in Zimbabwe and Venezuela). Meanwhile, digital currencies have gone through bubbles and crashes, particularly in the past few years, as speculators drive market prices.
MINER offers a unique solution to both the lack of intrinsic value and the lack of stability that plague the present digital currency space.
Intrinsic value. MINER is not a digital coin, a securitized token or even a cryptocurrency by strict definition; MINER is a digital voucher with an intrinsic value in the labor of mine production. MINER tokens are utility tokens, redeemable for services; in this case for one labor minute of gold mining services performed by the employees of Miner Network mines. The token holder’s ability to redeem tokens for mining labor and to call on the Miner Network mines to extract and deliver physical gold on demand, creates a solid floor of value for the MINER token.
Stability. The net gold extraction per labor minute at Miner mines is measured as a rolling average over the past 365 mining days. This eliminates wild fluctuations in the amount of gold product delivered upon redemption of tokens for mining services.
A Shift for Mining Operations
For the mining industry, MINER offers a shift from selling physical gold to selling the service of responsible gold mining. Miner LLC presently owns and mines rich North American mining claims and continues to identify new sites to acquire and develop. The launch of the MINER token represents a mutually beneficial, on-chain representation of ethical mining labor and can be used to both expand production and increase its efficiency in environmentally conscious ways. This enables Miner LLC to operate its mines responsibly and effectively and allows the company to provide its mining labor services directly to Miner Network Members.
Mining operations wishing to work with The Miner Network and tokenize their mining labor are audited and evaluated by Miner LLC before entering into any contractual relationship and ongoing. All mine sites must meet and maintain the highest ethical standards including legal mining operations, adherence to mining plans, ecological sustainability, site restoration, and fair and safe labor practices. Miner LLC presently oversees all its own mining operations and provides on-site management.
The Miner Network employs a just-in-time production strategy for its gold product deliveries.
Just-in-time is an inventory management strategy originally introduced by Toyota in the 1970s, now in common use by manufacturers. It increases efficiency, decreases waste and reduces the overall cost of inventory. Prior to the advent of MINER, just-in-time has not been a common practice in the resource extraction industry. We believe it should be, and MINER provides the mechanism for it.
From both a security standpoint and an environmental one, the customary practice of mining gold to then store it in a bank vault makes less and less sense, and it is high time to make a change. There is no safer vault to store gold than where we already know and can verify that it is: underground, not yet mined. Assays, drill reports, microwave scans and other exploration methods reliably indicate the quantity and location of gold. We know where it is. We just need to extract it, and the only question is when. There’s no better way to protect the environment from excessive mining than to leave the gold in the ground unless and until it’s actually needed in the supply chain.
The Miner Network allows MINER token holders to store value digitally and delivers physical gold on a just-in-time basis, when needed. Miner Network Mines stand ready to produce and deliver gold products. Token holders who need physical gold delivery (such as jewelry makers and electronics manufacturers) can redeem their MINER tokens for the service of mining and order the products of the service, which are gold bars. Those who do not require physical gold in hand can simply leave it in the ground, ready to be mined whenever they might call for it. Many Miner Network Members will rarely have a need for physical gold delivery and will find MINER tokens a viable and environmentally responsible alternative, one that protects the wilderness from unneeded disruption while offering excellent portability, fungibility, and security.
At launch, The Miner Network has secured the service of gold mining at 7 Miner LLC mine sites in Alaska. Two are presently active, two have been drilled with known resources, one was mined to completion in 2019 after four years of operation, and the remaining two are promising but as-yet unexplored. Miner LLC presently holds a purchase option on an additional North American mine and is evaluating additional mine sites around the globe for potential acquisition.
Sale of Service and Issuance of Tokens
Tokens are created to represent each minute of mining time exerted by an employee and contracted for by Miner LLC on behalf of the Miner Network. For example, if mine site 1 employs its personnel an aggregate of 1,000,000 minutes per year, and the conservative estimate of gold in mine site 1 indicates a 7-year mine life, then 7,000,000 mining labor minutes result from this mine site, and 7,000,000 MINER tokens are created as digital vouchers representing the minutes of mining labor. If mine site 2 will be mined 2,000,000 mining minutes per year, and the conservative estimate of gold indicates a 10-year mine life for this mine site, then an additional 20,000,000 mining minutes (and an additional 20,000,000 MINER tokens) will be created from this mine’s operation. As new mining claims are acquired and explored, new tokens are issued based on the number of labor minutes of mining operations for which Miner LLC contracts. In some cases, Miner LLC may contract to tokenize just a portion of a mine site’s total extraction. In such cases, the extraction and expense figures are calculated pro rata, based on the percentage of total labor minutes for which Miner LLC contracts.
Regular audits of Miner LLC are conducted by both the Miner Treasury Board and The Miner Network, and production updates are published daily online.
Redemption of Tokens
At any time after launch, a member holding Miner tokens can redeem them for mining labor. The products arising from the performance of that mining labor are various sizes of refined gold bars.
When MINER tokens are redeemed with the Miner Mint, the tokens are “burned” by being permanently locked into a smart contract, unable to be re-released or spent. This process occurs once the Miner Mint calls for the mining of gold for the specific token redeemer, orders the corresponding gold products with the refinery and ships the gold bars to the member. The redemption process thus reduces the overall token supply by the number of minutes redeemed.
Gold Product Delivery
The Miner Mint publishes daily figures for redemption of tokens and subsequent secure delivery of gold products on minertoken.io:
- Gold Product Weight (the current net weight in refined gold extracted per mining labor minute);
- Current number of tokens required to be redeemed for each of the available gold products (the various sizes of gold bars); and
- Shipping, handling and administrative costs.
The Gold Product Weight is not specific to the labor time of any one employee or the production of one claim, mine site, processing plant or refinery. Rather, it is the average gold production per labor minute, minus costs, from all mining operation minutes contracted for in the Miner Network, calculated on a rolling average of the past 365 mining days. Mine operating costs, refining costs, token technology costs, taxes and other costs are deducted to calculate the Gold Product Weight. The Gold Product Weight becomes locked in at the time a token holder elects to redeem tokens for mining labor.
Major costs (mine acquisitions, major equipment purchases or leases, etc.) are amortized over the expected life of the mine.
The first 7 mine sites in The Miner Network are seasonal mining operations in Alaska. For seasonal mines, the costs incurred between seasons are amortized over the mining season (from the first gold production day in the spring to the last day of gold production in the fall). And only on-season days make up the 365-day history of extraction used to calculate the Gold Product Weight. Thus, the “year” of data for Gold Product Weight calculation is actually about 2 years for seasonal mines, not a calendar year. For year-round mining operations, the year of data is a calendar year.
When new mines join the Miner Network and arrange to tokenize the amount of mining labor that will be available for that site, no immediate change occurs to the Gold Product Weight, as the Gold Product Weight is calculated by the past 365 mining days of extraction from mine sites already in production within the Miner Network.
The Gold Product Weight is thus a true measure of net gold production from the service of mining for one minute of mining labor, proven over the past 365 days of mining operations, measured in weights of 9999 fineness gold.
Calculation of the Gold Product Weight:
The following calculation is provided for the first phase of launch (Soft Launch), as further described in the next section below. The Gold Product Weight is subject to continual change as the daily figures for mining production and expenses are reported by the mines. To see the current Gold Product Weight, please visit minertoken.io.
Mining Minute (Min.) = minute of labor time by one (each) mining employee.
Net Gold Extraction = total gold extraction, in troy ounces (oz), the last 365 mining days, minus all costs (includes exploration, mining, refining, token technology and other costs).
|1 Token = 1 Min. ≈||Net Gold Extraction|
|1 Token = 1 Min. ≈||2,770 oz – 1,587 oz||≈||1 oz||≈ 0.00066 oz|
|1,814,128 Mins.||1,515 Mins.|
Actual values vary by day, based on the previous 365 days of production. Due to the 365-day rolling average, daily fluctuations in the Gold Product Weight are minimal. This makes the MINER token quite stable. The current Gold Product Weight is always posted on the Redemption page of minertoken.io.
A maximum of 45% of presently contracted mining labor minutes will be made available during launch, and the corresponding maximum of 45% of initial MINER tokens will be issued at launch. Launch takes place in two parts, as described below. The remaining tokens will be held under management of the Miner Treasury Board.
Mining labor services will be sold and tokens issued only to members of The Miner Network. Membership is open, and application for membership is quick and easy on the minertoken.io website.
Soft Launch: A maximum of 20 percent of mining minutes are presently offered to members during the Soft Launch. Accordingly, a maximum of 20 percent of the total initial token supply will be issued.
Main Launch: Main Launch will begin when the Miner Exchange is operational and fully tested and supported. Main Launch is anticipated to take place in the first quarter of 2021. A portion of mining labor minutes will be available for sale day one of Main Launch at a price in Ether (ETH) or Bitcoin (BTC) equivalent to the Gold Product Weight. The remainder of mining labor minutes available for launch will be released in stages over weeks 2, 3 and 4 of Main Launch at the market price established by trading activity on the Miner Exchange.
Tokens may be exchanged between Members on the Miner Exchange at any time after the start of Main Launch.
Tokens may be redeemed by Members at any time after Main Launch has concluded.
Tokenization of mining labor minutes and MINER tokens released at launch:
Mine Site Minutes/Tokens Issued Minutes /Tokens Released
Glen Gulch 1,277,640 574,938
Lucky Creek 10,188,393 4,584,777
Trail Creek 8,471,703 3,812,266
Gold Run 22,503,816 10,126,717
Granite Creek 2,808,000 1,263,600
—————– ————– —————-
Totals: 45,249,552 20,362,298
Therefore, the total number of tokens to be released in the two-part launch phase is capped at 20,362,298 MINER tokens (unless new mine acquisitions or further exploration of existing mines add to the supply of mining minutes available during the launch period).
Use of Funds
Funds raised from the sale of mining services and issuance of MINER tokens are primarily applied to increasing efficiency, responsibility and overall gold production output, as well as to add to and improve member services. Specific intended uses include: mining claim acquisitions, exploration, equipment upgrades, improved member services, building a refinery, and restoration of mine sites to environmentally sound wildlife habitats. These uses, in turn, employ more people and allow more gold to be ethically mined for Miner Network Members. Beyond the reinvested revenues, all profits are dedicated to support The Miner Network (theminernetwork.org) and Origin Trust Foundation (origintrust.org).
Mine Life Estimation
Estimating the life of a mine site is no simple task. The Miner Network employs a team of highly qualified individuals to make these assessments. However, even with the best exploration geologists, the most experienced mine managers, the best exploration technologies, and the most comprehensive geological surveys, assays, drill reports, etc., one can’t say exactly what’s beneath the ground or how many labor minutes will be required to extract the gold. The Miner exploration geology team must assess each mine site to the best of its abilities and recommend a mine life estimate for presales of mining minutes, and then there must also be a mechanism to adjust for the eventual reality, whatever it may be, so that the stability of the MINER token is not affected by estimations of mine life.
The corrective mechanism employed for this purpose is the retention of tokens in the Miner Treasury, which solves the issue. The Miner Treasury releases less than half the total available mining minutes and thus issues less than half the total tokens that represent the life of a mine site. This affords flexibility in either direction to adjust for the difference between estimated mine life and actual mine life.
Since mining labor minutes are based on the conservatively-estimated mine life of each site, most sites will have an actual mine life that’s longer than originally estimated. Once 90 percent of estimated labor minutes have been worked on a Miner mine site, a new estimate of mine life for the site is made, new minutes are made available, and new tokens may be issued.
If a site is mined out earlier than anticipated, or a mine site’s production ceases earlier than estimated for any reason, tokens held within the Miner Treasury are burned for every overestimated minute of mine life. Thus, the Gold Product Weight for the remaining tokens is unaffected and remains stable. This mechanism is likewise effective in cases where mine life was simply overestimated, and where mining efficiency improves extraction so much that it shortens the mine life (and consequently increases the Gold Product Weight per token), as well as in cases of unforeseen circumstances such as flood, fire, earthquake, other acts of nature, war, governmental action, strike, prolonged energy shortage, or any other events prohibiting or impeding mine performance. The risk of underestimation or overestimation of the life of a mine site is thus borne primarily by the Miner Treasury for The Miner Network and not by the MINER token holders.
Not a Security
Nothing in the development, creation, issuance, trade, operations or redemption of MINER tokens or the MINER token platform is intended to create a security. By the laws of the jurisdictions involved, no security is created, offered or present.
Not a Futures Contract
By the laws of the jurisdictions involved, no futures contract is created by the development, creation, issuance, trade, operations or redemption of MINER tokens or the MINER token platform. Labor is not a commodity, and no quantity of goods, price, value, or date of delivery is offered or agreed at the time of sale. Thus, no futures contract exists.
Not a “Gold-Backed Cryptocurrency”
MINER is a utility token in the form of a digital voucher for mining services. Nothing in the development, creation, issuance, trade, operations or redemption of MINER tokens or the MINER token platform is intended to create a currency. By the laws of the jurisdictions involved, no currency is created, offered or present.
MINER tokens are not gold-backed. Each MINER token represents one minute of mining labor. Gold bars are the deliverable products arising from the service of gold mining.
This White Paper is subject to ongoing revisions in order to continuously improve the Miner business model, keep current with the evolving blockchain space, maximize the benefits of the services provided for Miner Network Members, conform to ever-changing regulatory frameworks, and for other compelling reasons that may arise from time to time. Every effort has been made to express a transparent view of operations as they exist at the time of this writing. Nothing in this White Paper is static, perpetual, guaranteed, or unchangeable. In fact, it is updated frequently. The most current White Paper will always be posted on the Miner website, it will always reflect the true present nature of the services offered, and it will always be subject to change in order to improve and stabilize the Miner ecosystem.
Mining is an historically risky business. It is capital- and labor-intensive work. The amount of gold that will be extracted by the future service of mining is a variable calculated through highly competent analysis, exploration programs and operational knowhow. Despite best practices, competent teams and experience, many uncertainties exist in mining operations. Viability of the service of mining and the resultant quantity of production are subject to fluctuations in costs of resources and global markets.
While blockchain technology and crypto tokens have already established important roles in the global economy, it’s important to note that this is an emerging space that may involve various risks, including operational risks, cyber-security risks, speculative risks, and fraud and manipulation risks.
The Miner Network and the businesses with which it contracts are devoted and committed to proactive risk mitigation on all fronts. The management teams have been carefully selected for the success, stability and security of the Miner ecosystem and include specialists in the pertinent disciplines of mining, blockchain technology, internet security, business, law and finance.
None of the information in this White Paper has been reviewed or approved by any regulatory authority.
This White Paper does not constitute a prospectus or offer of any sort.
This White Paper is not intended to constitute an offer of, or a solicitation for investment in, capital markets products, securities or any other financial or investment instrument in any jurisdiction.
This White Paper may not be distributed, disseminated or otherwise transmitted to any country where such distribution, dissemination or transmission is prohibited.
This White Paper may only be reproduced, distributed, disseminated or otherwise transmitted in its entirety. Partial reproduction, distribution, dissemination or transmission is prohibited.
To learn more, please visit the following websites:
The Miner Network: theminernetwork.org
Origin Trust Foundation: origintrust.org