Oldham-based Energi Mine successfully raises £8 million through ICO Pre-Sale

Omar Rahim, CEO at Energi Mine

Oldham-based Energi Mine has raised £8 million for its new cryptocurrency, ETK Tokens during the pre-sale period of its Initial Coin Offering (ICO).

The public sale period launches on 1 February 2018 with total fundraising capped at £12 million.

Energi Mine has also announced it is rolling out an international expansion programme in the first quarter of 2018, with office openings in Japan, South Korea, Germany and the US.

Energi Mine is a Blockchain-based business that uses Deep Learning Artificial Intelligence models to trade and manage energy.

The company has launched a blockchain-based platform that aims to decentralise the global energy market by incentivising energy conservation

The platform will change the market by encouraging consumers and organisations to reduce their energy consumption. This will be achieved by issuing ETK Tokens to reward energy efficient behaviour, such as taking public transport or buying energy efficient appliances.

Said Energi Mine’s founder and CEO Omar Rahim said: “Our ICO has already attracted contributors from over thirty countries, with all continents represented. There has been a mix of investors from larger crypto funds to the general public. We are building a global business so it is good to see such worldwide interest.

“The majority of funding will go towards building the platforms to reward energy saving behaviour and our peer to peer trading exchange.”

Energi Mine has chosen Tokyo as its first international base, due to high levels of interest in cryptocurrencies in Japan.

Rahim added: “Cryptocurrency adoption in Japan is leading the way globally. There are already multiple retailers accepting crypto payments.”