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Web3mine

Web3mine is an open-source innovation lab that is focused on building an open, decentralized compute infrastructure and operating a marketplace for compute resources. It aims to empower individuals and communities to collectively coordinate capital and hardware to build an open, performant, and resilient compute infrastructure for everyone.

Key Offerings of web3mine:

  1. Hardware Monetization: web3mine allows hardware owners to easily deploy and monetize their assets by completing jobs. This includes utilizing hard drives for storage, circuits for computational workloads, and networking equipment for data movement.
  2. Liquid Staking: Cryptocurrency holders can deploy their tokens to aid the growth of decentralized networks and, in return, participate in the value they create by collecting staking rewards.

Progress and Achievements:

  • web3mine has made substantial progress in building out its offerings, with thousands of machines already connected to its network. These machines provide petabytes of necessary storage capacity and complete tens of thousands of computing jobs daily.
  • The initial focus of web3mine has been on the Filecoin network, where it has built important tooling and innovations. By leveraging technology developed by web3mine and capital provided by stakers, hardware operators are able to scale their operations efficiently, drive cost savings, and reduce exposure to cryptocurrency volatility. These cost savings are passed on to stakers, allowing them to benefit from the growth of the network economies.

Expansion and Future Plans:

  • web3mine’s liquid staking solution for the Filecoin network is just the beginning. The team is expanding its reach to service other web3 utility networks, allowing greater access for staker participation and accelerating the development of lean, performant, and open access networks.

PROJECT CATEGORY:

PROJECT INVESTOR:

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protocol labs

FUNDING ROUND

Round: Seed
Amount raised: $6,000,000
Date: December, 2023