While Ethereum is projected to move to a proof-of-stake solution in the near future, it currently relies on proof-of-work, similar to Bitcoin. But due to the nature of the Ethereum mining algorithm, it is not suitable for ASIC mining hardware, but rely on GPU-mining.
At the facilities in the Glarus Alps, where power is available from the Glacial Apxo Linthal Hydro-electric plant, the Alpereum mine was established in early 2016, with a target of contributing 0.5 – 1.0 % of the complete ETH network hashrate.
Plans were also made to expand the Alpereum mine to include bitcoin mining, with the release of the 4th generation of bitcoin mining hardware in the late summer of 2016.
While the Alpereum mine is large enough to allow for solo mining, during the establishment, it was found that the Ethereum eco-system as a whole was suffering from an inadequate number of mining pools, some of which were less than ideally transparent, and some of which were growing to a size where the decentralization of hash-rate distribution was threatened.
With no professional open source solution for ETH mining pools available, the software developers at Bitcoin Suisse were tasked with making just that. A safe, professional and high-yielding ETH mining pool software solution, to be released to the benefit of the community.
Under the Alpereum brand, BTCS assembled a team of experts, with deep knowledge of mining and pool mining, as well as IT-administrators and blockchain developers to realize this vision, and to provide a hosted mining pool solution with the transparency, quality and reliability that the mining community deserves.
With the Alpereum mine as its base line client, the Alpereum ETH mining pool is projected to open for miners in early May 2016.
With a credible management with a long track record, transparent operations, low fees and high performance, the Alpereum ETH pool will be a new benchmark for ETH pool mining. In addition to services of other pools, financial services provided by BTCS will be included, such as hedging, futures and liquidation against fiat currencies for miners, allowing miners to focus on their core area of expertise.
Later in 2016, Alpereum is projected to expand in a similar fashion into bitcoin mining and bitcoin mining pool hosting and administration.