Crypto-fueled wireless carrier Helium Mobile debuts unlimited nationwide plan in US

Helium HNT +6.07% Mobile, which calls itself the "the world’s first cryptocarrier ," said Tuesday that it launched a nationwide plan in the U.S. with unlimited data, text and talk that costs just $20 a month. 

Helium Mobile's service combines the peer-to-peer Helium Network, an internet-of-things project that uses the Solana blockchain , and a nationwide 5G network. The launch follows a limited trial in Miami earlier this year. 

"With Helium Mobile Hotspots, subscribers can own and set up 'mini cell towers,'" the company said in the statement. "Dead zones can become a thing of the past when anyone can become a builder and set up a hotspot to expand the network for themselves and the community."

Helium hotspots

Helium Mobile is offering an outdoor Helium mobile hotspot for $499 and an indoor one for $249.

According to Helium Hotspots Map , there are currently 3,831 active mobile hotspots in the network and 357,087 active hotspots for internet-of-things devices. 

The price of Helium's HNT token, used to incentivize hotspot operators supporting the network, rose slightly on Tuesday after the news, although the current level of $2.98 is still much lower than the all-time-high at the end of 2021, when the token traded over $51 per token.

Helium Network was founded in 2013 to build a peer-to-peer wireless network for internet of things devices. It raised $111 million in a 2021 token sale led by Andreessen Horowitz. Other investors included 10T, Ribbit Capital, Multicoin Capital and the now-bankrupt trading firm Alameda Research. 

In February, the project raised $200 million in a Series D round at a $1.2 billion valuation, with investors including Tiger Global and FTX Ventures.

In September 2022, the project migrated from a proprietary blockchain to Solana. The same month, Nova Labs signed a contract with T-Mobile to cover the gaps in Helium coverage.