LONDON, February 16, 2018 /PRNewswire/ --
Digital currency Ormeus Coin (Orme) is using a custom-built Artificial Intelligence engine to optimise mining activity at its $250 Million cryptocurrency operations in North America.
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Combined profits at the Ormeus mining farms have now hit USD$5.406 Million per month due to aggressive expansion and state-of-the-art technology.
The mining operations feature an Artificial Intelligence engine designed to select the most profitable coins to mine at any given moment.
According to a newly published whitepaper and legal audit on Ormeus Coin, the AI system has much in common with the quantitative analysis deployed in high-frequency trading.
"A custom built Artificial Intelligence (AI) engine optimises mining activity for Ormeus by maximising yield related to quantity and value of the currency mined," the legal audit states.
"Every few milliseconds, the engine demands a lookup request and finds the most profitable coin to dedicate processing power to," the independently commissioned paper adds.
The Ormeus algorithm aims to remove human bias from the mining equation and even searches for negative mainstream news and high-profile comments affecting certain coins.
Audited financial statements from the Ormeus Coin mining facilities report that the company is currently making USD$5.4 Million per month from mining, a figure which will increase to USD$6.7Million with the next hardware order.
Ormeus guarantees that 40% of the profits from mining operations will be deposited on a daily basis and retained in a designated multi-signature digital wallet.
This secure digital wallet will be used to store the digital currencies being mined, (Ormeus Reserve Vault), and will be visible to the public via smart contract programming from the mining rigs to the currency reserve.
The company will liquidate a further 40% from mining operations to re-invest into acquiring additional mining machines and energy.
Home and retail miners reached a profitability limit in 2017; now scalable professional-grade infrastructure is essential to support Blockchain ecosystems.
Industrial digital rigs verify transactions and harvest new crypto coins like Bitcoin, Litecoin or Dash by being the first to solve a complex mathematical puzzle called 'hashing'. This steady addition of new coins is analogous to gold miners expending resources to add gold to circulation.
For more information on Ormeus Coin, its new mining operations and audited whitepaper, visit http://www.ormeuscoin.com
