Bitcoin Forum

I am in the process of putting together a project to Build a Datacenter that will house a Mining Farm for Bitcoin and Ethereum
The concept is designed to change the playing field, IE: Cloud Mining in general

You see, I have been burned by a cloud mining platform that charges too much for far too little and I want to change how its done.
I want to be able to offer Mining Systems as a whole, not virtualized, meaning the full resource available of the mining server itself and not charge daily fees.
IE: A Bitmain T9 which boast 12.5 THs, once rented, the users gets the full 12.5 THs which is capable of generating roughly $400 a month.

As a retired Army Veteran who has an extensive background in Information Technology and well versed in Block Chain technology, I feel its feasible to bring this concept to a reality.

We are running our Funding Campaign in two phases:
 Phase 1 Crowdfunding to gain the proceeds in order to purchase 4 mining systems to mine the remaining funds needed.
 Phase 2 Run an ICO to raise capital to build the datacenter and additional servers.


Additional information on the entire concept is hosted temporarily at https://www.devworksosi.com/TangoMine-v1.1.pdf (https://www.devworksosi.com/tangomine)

I do appreciate any and all feedback.

Personally, I have no real-proof concept of mining overheads nor gross returns, so can only guess at the profitability of cloud mining sites from what I can read and roughly calculate. What I can surmise is that cloud mining is not profitable for low-end users, nor even for middle-end ones who might have expendable income to try out mining. You probably were one of the middle-end ones that got burnt.

The daily fees you talk about I presume are the fixed electricity costs but these aren't as big the culprit as the maintenance fees. Most sites are not fully transparent with new users about expectations, so no one really knows how long "lifetime contracts" last and how quickly maintenance fees eat up daily profits.

If you're selling entire rig hashpowers, you're targetting very wealthy users so perhaps there is a market there. But my biggest question is: how will you cover overheads? From your FAQ, a base $50 per month doesn't sound like a lot.

Well to start, I mine from my house with systems that are designed for it to generate the needed funds to start, from there I keep mining in order to pay the bills and purchase additional rigs for the public to use, if the power usage is balanced, their is not need for maintenance fees, therefore what is generated pays the bills and all income from rented servers go towards said bills.

Cloud Mining is NOT profitable, PERIOD and I intend to change that

i didnt get it properly.  you said a bitman which boast 12.5ths, once rented the user will get 12.5ths. So my doubt is how you are going to pay for the Hugh current conception by bitman? you have no maintenance fees right?