IceRockMining: A Bitcoin Mine In A Kazakhstan Cave

by otopenews


  • This is not financial advice this is an interview with IceRockMining.
  • The answers have been provided by the IceRockMining.
  • staff are not financial advisors, this is not financial advice.
  • This is not a buy, sell or hold recommendation of any assets mentioned in this interview.
  • Do your own research before you invest in anything.
  • This press release/article/interview has been published for free.
  • Your capital as at extreme risk and you can lose it all when investing in ICOs and cryptos.
  • Please discuss this with your local financial advisor before you invest.
  • Full Disclaimer

What is IceRockMining?

This is a commercial mining project that is being implemented in the heart of a mountain located in Kazakhstan. Ice Rock Mining has no analogues in the world, the clear advantages of our project to competitors are:
1) Uniquely located (a mining farm is located in a real cave of the times of the USSR)
2) The constant temperature in the cave, regardless of the season, the temperature in the cave is 12 degrees Celsius, thus there is no additional cost for active cooling.
3) The cost of electricity – 0.03 $ per 1 kW / h

Why is Bitcoin mining profitable?

Bitcoin – this is what holds the cryptocurrency, a kind of guarantor and it is still the most reliable currency for mining, the more obvious its advantage is its limited release, which in the long term will affect the constant growth of the rate of this coin. And now is the best time to start a project, because in the market of miners there are “big players” who will apply new technological solutions in this area.

When will the first miners work in the mine?

The cave already employs around 100 ASICs and 140 GPUs, this equipment that produces cryptocurrency for the participants of the first phase of the Ice Rock Mining project, equipment for the second phase according to the roadmap will be installed and launched at full capacity during the period from July 1 to 10 2018.

How will the profit from bitcoins be used?

The profit will be converted into ETH and distributed among the holders of the tokens through the means of a smart contract, all the profits will be distributed in the following proportion:

50% – distributed among the holders of the ROCK2 tokens, in proportion to the number of tokens held by the holder.
20% – reinvestment, regular increase in the capacity of the farm to outpace the growth of the complexity of the network.
20% – energy costs, farm maintenance, security and other related costs
10% – IRM team profit

Should the company pay taxes on Bitcoin production, and whether this will occur before or after the distribution of the tokens?

Currently, in Kazakhstan, the cryptocurrency is not regulated by the state and there is, therefore, no tax in the country, so the founder company is legally located in Northern Ireland (offshore zone), thereby taxing will occur under a simplified system.

How often will the profits be distributed among the owners of the tokens?

The profit will be distributed once at the end of the month through a smart contract in ETH.

There were comments about the profit calculator, what is the answer to IceRockMining?

Calculator calculation formula is calculated correctly, on our site, there is a tab in which everyone can see the formula on which the calculation is carried out, as well as the initial data that are used in the calculation taking into account the average annual profitability from the BTC mining.

Will the mine be filled with miners, is there a risk of spending on additional cooling equipment?

The cave was designed in the USSR where serious work was done on the ventilation system, which in turn ensures a constant air circulation, plus the whole rock in the cave absorbs heat and thus helps maintain a constant temperature.

What are the three main advantages of being a token owner?

It’s simple:
• Lifetime profit
• Monthly payments
• The constant increase in the price of the token on exchanges

In which area do you spend most of your time working on this ICO?

The work is carried out simultaneously in all directions, the CEO of the project has organized a clear distribution of tasks among all departments of the project, the technical department deals only with technical issues, the marketing department promotes the project on all possible resources, the CEO is responsible for monitoring and communication between departments and regularly negotiates with potential project partners .

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