Russian Mining Center (RMC) conducted an initial placement of the tokens during which equivalent of $43.2 million was collected, a record amount for the Russian ICO, The Bell reported.
RMC will direct the collected amount to launch new-generation bitcoin mining under Sunrise brand and to develop MultiClet processing unit on the same chip. It is set to boost the energy efficiency of mining by 35-220 times.
Owners of RMC tokens will be able to exchange them for MultiClet miners at a cost three times lower than the market price.
Now the annual sales of miners in Russia total about $180-200 million. Over the next three years, sales can grow to $1 billion. The company expects to occupy 30-35% of the market.
