Hi guys!
I have launched my biggest project so far,
A 500 Thash farm powered by HashFast.
For the IPO information and more details go here:
https://bitcointalk.org/index.php?topic=269216.0
//DeaDTerra

We are now public on Bitfunder
//DeaDTerra

While I agree that starting at the beginning of a difficulty cycle or mid difficulty cycle will have a effect of the profit outcome. We can not possible know when we start mining within the accuracy of what day within the difficulty cycle.

As stated we do not speculate on what the potential ROI or profit of the mining farm will be nor do we say that we can make any accurate estimates.
Please do use other sources and calculators that exists to make your own estimates. Based on your own diligence and research make a decision, we do not advocate people to make decisions based on our spreadsheet alone.

The IPO model is profit sharing, you purchase a % of the profit of the company hence when the company makes money so does the investors. We decided to go this way because we think it is the most fair way for the investors. We are not renting hardware or selling mining bonds, we are offering a chance to invest in the mining operations profit directly and hence take part of both the risks and profits.

Thank you for your feedback!
//DeaDTerra

Hm, your right.
As said the document was more made as a proof of concept.
its not meant to project anyone's specific returns but a model designed for investors to plug and play scenarios.
This will enable investors to project different scenarios to see what their potential ROI can be.
The model is in no way a tool to pre determine what profits an investor will make.  it is simply a calculator for investors to play with.
It is impossible to make a exact estimate hence we do not state that we can. We simply offer a platform where you can make your own estimates.
//DeaDTerra

Thank you
//DeaDTerra

Yes
That is correct!
//DeaDTerra

Welcome on board ^^
//DeaDTerra

I guess someone was a bit to eager to get the shares and priced it a bit to high ^^
//DeaDTerra

The first batch is now up.
14.5 million shares at 0.0014 BTC each
//DeaDTerra

As stated in the contract the prices and amounts given are estimates and can change.
The price can appreciate more in the case of where we manage to sell all the assets.

If you are afraid of the rest of the 20 Million shares being dumped that will not happen as if we can't raise the necessary amount, we will have to deem the IPO a failure and return the money to the investors. Hence it is in everyone's interest to sell enough of the batches to fund the project.
//DeaDTerra

Hi!
Glad to see you getting involved.
The IPO will start in a couple of minutes with the first batch, each batch will be released once the batch before has been sold.
//DeaDTerra

Mining start date:
The estimated time of delivery is Q4 of 2013.

The physical mine location will be prepared for chip delivery in September.
Chips will arrive in early November
The IceDrill mine will be operational in Q4 2013, likely in November.

Why should you believe in this timeframe? Because we are working with HashFast. We invite you to consider their ability to deliver chips on time and to spec for yourselves.

IPO details:
20-30,000,000 (20-30 Million) IceDrill.ASIC shares will be created at the IPO. 20-30,000,000 of these shares will be sold. Each share represents (percentages to be determined upon IPO finish) of the profit of the IceDrill mine. Since the mine will open with 250-363 Th/s. of capacity, 1,000,000 shares will equal profit derived from roughly ten terahashes (10 Th/s)  of capacity (and this will grow over time as 25% of profits are continually reinvested).

The shares will be sold in three batches:

The first batch is a initial sale of 14,500,000  (14.5 million) shares, which will be sold on BitFunder for 0.0014 BTC per share. The first batch will raise money to partially pay for chips and mining equipment from the manufacturer (HashFast, see thread https://bitcointalk.org/index.php?topic=262052.0) This money needs to be raised before the 12th of August (00:00:00 UTC, 12 August 2013) for this IPO to be deemed successful.

The second batch of 3,500,000 (3.5 million) shares and will be sold at 0.0015 BTC per share. Proceeds raised from this sale will help pay for more hardware and build out of the compute center/mine location. This batch needs to be sold by the 25th of August (00:00:00 UTC, 25 August 2013) for the IPO to be deemed a success. If this does not occur then any money collected will be reimbursed to the investors. At the opening of the mine, this equates to a price of 0.15 BTC per Gh.s.

The third batch is of 6,250,000 (6.25 million) shares and will be sold at the price of 0.0016 BTC per share. These shares do not have to be sold for the IPO to be deemed a sucess. The more share we sell the more equipment we can buy. At the opening of the mine, this equates to a price of 0.16 BTC per Gh.s.

Keep in mind that the Gigahashes represented per share will grow over time as the reinvested Bitcoins are used to purchase more hardware.

Introduction of parties involved and responsibilities
The ASIC manufacturer is HashFast, which recently made its announcement here https://bitcointalk.org/index.php?topic=262052.0, you can also check out their website for more information hashfast.com

The builder and operator of the IceDrill mining farm, and the administrator of the IceDrill. ASIC share asset is DigiMex. DigiMex is in turn owned by PetaMex Limited (BVI Company registration number 1784386).
Estimates:
Basic spreadsheet/tool for general bitcoin mining profitability calculations:


New Link:
https://docs.google.com/spreadsheet/ccc?key=0ApavGWiMvgTXdFdPQmtCaTctZ1ctYVFkUEtIVXNTV0E&usp=sharing

Old Link:
https://docs.google.com/spreadsheet/ccc?key=0AqOET6CrjiUodFIxN1Q0Q2FVT0VsalhOcVhfTmhJRmc&usp=sharing


Please note that the scenarios that have been set up are just examples and do not represent the future or actual profits. Please do you own due diligence before deciding to invest. If you want to setup your own scenarios please copy paste and plug in your own numbers. Please note that these figures do not include the electricity and rent costs. Please see other estimates of mining facilities for a cost budget.

Please note that any risks that DigiMex assumes is also a risk for the investor, as an investor owns a share of the profit and not the hardware. This may include but is not limited to risk such as failure of delivery of hardware (due to chip design flaw, malfunction in production, delays etc), theft of hardware, damage to hardware etc. Please consider this before investing,

This Bitcoin-related investment is a high risk investment and you should only invest as much as you can afford to lose. No guarantee is made of any return or profit whatsoever.

IceDrill.ASIC offering:
Each share represents (percentage to be determined at IPO finish, based upon amount of hashing power and amount of shares. Please note that each share will be balance such that it is worth 10 Mhash at startup) of the profit of DigiMex (The Issuer) and gives the holder right to 100% of the profit (Of the percentage of profit to be determined at IPO finish profit). Profit is defined as income from mined bitcoin minus electricity cost,rent and maintenance. 75% (of this profit) will be paid in interest every week (every Sunday) and 25% of the profit will be reinvested in additional mining capacity. The holder of the share has the right to the full profit of any hardware purchased with these reinvestments (the 75%/25% distribution rule will again apply to hardware acquired through reinvestment).

The shares have no voting power. Shares of IceDrill.ASIC on BitFunder do not represent real world shares of DigiMex. The shares are solely a distribution mechanism for rights to profits of DigiMex. Profit distribution will not be dependent on BitFunder’s existence, in the case of where BitFunder is closed down the asset will be moved to another platform, if no adequate platform exists then payouts will happen manually to the shareholders bitcoin address.

The Issuer has the right to terminate the asset in the event of insolvency by liquidating any company savings to pay out a final dividend.  In the event of a sale of the farm, the profit made will be split proportionally amongst the asset owners. The issuer has the right to release more shares at any time and for any price ((the Amount of shares to be determined which is less or equal to the 40/60 split originally stated) shares not sold at the IPO).  Because each new share holds the same proportion of the company even after more issuance, there will be no dilution to the previously sold shares.

The issuer has the right to change the price and/or amount of any scheduled batches of shares.

Please note that DigiMex will be operated by PetaMex in the foreseeable future. However, the operators (PetaMex in this case) retains the right to stop Digimex operations if it becomes operationally unprofitable. At that point, this agreement will automatically be terminated. In addition, we would not preclude the possibility that DigiMex may be sold to another operator.

Clause added in benefit of public shareholders
No dividends will be paid to the holders of private shares until holders of public shares have received an accumulated dividend of 0.0016 BitCoin per share. After which, proceeds from mining will be distributed proportionally such that there would be no difference between floating shares or private shares.
Private shares can be converted into floating shares after all public shares have received an accumulated dividend of 0.0016 BitCoin per share.


Please note the changes made to the contract and IPO info:
https://bitcointalk.org/index.php?topic=269216.msg2938623#msg2938623
https://bitcointalk.org/index.php?topic=269216.msg2917934#msg2917934

Hey guys!
I am happy to bring you a very exiting project.
The IceDrill.ASIC mining operation,
A 250-363 Thash mining farm which will be built and based in Canada
This is the biggest project that I have been involved with so far and I am happy to bring the opportunity for the bitcoin community to invest and get involved.
I have been involved in previous projects and IPOs such as ASICMINER,SatoshiDice,Gamma Bitcoin Fund and many more.
If you have any questions, comments or concerns please do not hesitate to contact me and I will do my best to respond.
//DeaDTerra


Introduction:

DigiMex, a British Virgin Islands company (BVI Company Number: 1784369), is deploying a large-scale Bitcoin mine named IceDrill. The company is hereby releasing a asset (symbol: IceDrill.ASIC) for shares in the profits of the IceDrill mine.

To build the IceDrill mine, DigiMex has a special relationship with HashFast to acquire significant volumes of its new 400 Gh/s ASIC chips on a continual basis.

The IceDrill mine, at launch, will be running with 250-363 Terahashes (363,000 Gigahashes) of power. This asset comprises +60% of the mine’s ongoing profits (meaning roughly 100% of 150-217 TH power). However, this asset is NOT tied to a specific hashrate. Rather, it is tied to a specific percentage of IceDrill profits, meaning that as the mine grows in hash power, so too do the profits earned by the shares. While one share will be worth roughly 10 Mhash of mining power upon launch, it will be worth more hash power over time as the mine grows.

In order to grow, 75% of the profit from each shares share will be paid out to the investor, and the remaining 25% will be reinvested in additional mining capacity on a continual basis. Thus, the mine will grow substantially over time to maintain the most efficient market share.

The IceDrill mine will launch with its initial 250-363 Th/s capacity in the last quarter of 2013, likely in November.


Purpose of the asset
Money raised through this offering will be combined with privately-raised capital (already secured) for the purpose of purchasing specialized ASIC mining equipment and establishing a secure, climate-controlled mine facility in Europe (the exact location is already selected but is confidential for security reasons).


For more information see second post or https://docs.google.com/document/d/1_uecYI2qlr_I3vj0VVG0E5F9_x_V0mBebeYpAvNZnl0/edit

BitFunder asset link:
https://bitfunder.com/asset/IceDrill.ASIC

FAQ:
https://bitcointalk.org/index.php?topic=269216.msg2884487#msg2884487
https://bitcointalk.org/index.php?topic=269216.msg2904447#msg2904447

Time limit on batch 1:
http://www.timeanddate.com/countdown/generic?iso=20130812T00&p0=1440&msg=Icedrill.ASIC+IPO+tranch+1

Please note change in IPO contract and information:
https://bitcointalk.org/index.php?topic=269216.msg2938623#msg2938623

I have purchased at about 2000 XPM, but I am looking to buy more
//DeaDTerra

bump

It was meant to be a one time thing
As for how Ukyo decides to do it, I do now know.
//DeaDTerra

It should be fine, it is not overclocked and is stable.
My Bitcoin mining (with ASIC) using the same desktop is producing correct numbers, hence I can't see a reason why network would be a problem.
Also I am producing 100 khash according to the pool but CGMiner says I am doing 600, would be weird to have such a high packet lose or overclocking problem.
//DeaDTerra

Unfortunatly BitFunder has newly added a withdraw restriction, so I could only transfer over 250 BTC instead of the 529 BTC that I needed.
The BTCT dividend will come when I can get a hold of Ukyo or latest tomorrow.
//DeaDTerra

Thank you for the kind words
The dividend has now been paid out of BF, the BTC is on it's way to BTCT.
//DeaDTerra

I will be winding down all my other PTs, as I no longer can ensure regular payments or that I can set off time on a weekly basis.
My time and presence is required sporadically across several countries and time zones. I can hence not ensure that I can payout dividends or complete other tasks within a reason time period while upholding the security measures I would like to keep.
This is something I have been thinking about doing for sometime now, but this issue has made it clearer.
It is time for me to shut down my PTs and step down, there are now several other reliable and trust able PT operators which you can fall back on.
I will still be available if anyone wants my opinion or advice on things, I might also do additional fund raising in the future but more focused on a small group of bigger investors.

Thank you for trusting me with your money and time, I hope that even though the recent fuck ups you appreciate the service I have offered the community for some time now.
Within shortly all PTs will be bought back or the ownership will be transfer to another trusted community member.
Best Regards
//DeaDTerra

For G.ASICMINER-PT this means that the ownership will transferred to Ukyo.
He will make a statement later on how this will happen and what it will mean
Hopefully faster dividends and smoother transfer.