Klondike Mining Collective - est. 2014
Based in Toronto, Ontario, Canada
Currently 'on hold' while I test the capabilities of the location. With 7kW of my own power draw, (compared to 4kW planned originally), there may be less power/cooling then required to host as originally intended. I am monitoring this closely and if the location is well-suited to hosting much equipment outside my own I will continue to pursue a 60kW+ location for later in 2014Ive been with these forums for a long time and became heavily involved with Bitcoin mining in late-2013 with the new generation of ASIC mining devices. However, I have reached the limits of residential mining and am looking to expand - and expand significantly.
I am not the only one in this boat. With many of the 110/130nm and 55/65nm technologies using major power draws, all over Canada Bitcoin miners are scrambling to find more electricity and space to keep from stagnating. The terrahash/second achievement is no longer enough to pay the bills on its own, and a central location with cheap plentiful power and a staff dedicated to 24/7 uptime becomes a necessity rather than a simple desire.
With that in mind - I suggest a mining collective be formed. By locating within the borders of canada's largest city, the collective will tout accessibility, responsibility, and accountability above all else. Every machine will be given individual worker accounts and payment addresses for simple, reliable tracking of stats and income, either via an established mining pool such as eligius or forming a private pool dedicated to network distribution.
This is not a task for one person - I am seeking miners, investors, and IT engineers to help make this a reality.
BITCOIN MINERSWe want to host your equipment! From 200 GHash to 5 THash, if you want to have your machines hosted at a secure location where you dont need to worry about power outtages, blown fuses, and cutting a holiday short because your machine went offline - I want to hear from you.
The initial location will have
up to 20kW available for access, and can be expanded if that limit is reached. Estimated fees will include:
1) initial setup costs ($50-150 depending on type of machine and any complexity of setup)
2) rent+mainteneance+power+cooling will be roughly $0.27/kWh - this may fluctuate as cooling increases at summer and as there is more equipment to share the space rental
3) additional maintenance such as overclocking, tuning, replacing fans/PSUs, etc would be charged at a fixed rate (possibly $10/15min)
As mentioned, every member or machine would be given individual mining addresses to track, preventing any disagreement over mining income or dividends
BITCOIN INVESTORSWant to participate in bitcoin mining but lack the space, time, or even funds to run your own units at home? Klondike Mining Collective has tons of room to grow, and is looking for investors who can make that happen.
The Collective will be constantly purchasing and adding equipment to the facility if calculations indicate that they will return a profit within 3 months. This means that if you had 2.2BTC to invest with us, we would purchase, host, and maintain a BITMAIN Antminer system in our facility on your behalf. It would be given a unique mining address (that is controlled by the collective) and its mining income would be split to 3 accounts -
1) Hosting Cost - This would be the base rate for the unit's power consumption (incl. cooling) plus any relevant costs (including initial power supply and setup costs incurred) - for example: $100 initial cost for PSU, unit, and network setup, plus ongoing electricity at cost
1) Hosting Fees - This would include a small cost to employ IT engineers who maintain the facility plus a small share of the facility costs. - for example: 0.05BTC/device/month towards the cost of renting the location and paying the salaries of those who keep the unit running 24/7. This could would probably be adjusted lower monthly to reflect the lower income of the machine and the more machines in the collective = lower share of rent per machine
1) Mining Returns - This would be where all proceeds of mining go after the above reductions. The address will be unique to each machine so that investors can see the return-on-investment.
Machines puchased via investors will be owned by the collective, and operated under the above guidelines until such a time as the fees+costs outweigh the returns. For 55/65nm equipment, this is expected to be a 3-6 month time frame. For 28nm equipment, 6-12 months is expected.
The goal of the collective will be to select and maintain Bitcoin mining ASICs that will produce >120% ROI to the investor after the cost+fee deductions. Please understand that there are many varying opinions on what the ASICs will actually return and the collective cannot promise that a machine will actually produce more Bitcoin than it cost to purchase. However, It is my belief that a 120% return to the investor is entirely possible, with some machines recouping >50% of costs in a single month.
IT ENGINEERSThe collective is looking for a few talented individuals with experience in bitcoin mining and maintaining large device networks. There are very few openings for this role, and initially it would be desirable to give these to established bitcoin miners. MUST be located in the Toronto area
As the Klondike Mining Collective comes to reality, a board of members/investors will be formed to vote on decisions such as hosting fees, expansion, and investment options. This would begin with agreement on a selected location, selection of IT engineers, and determining how to invest in machines.
I look forwards to any interested parties. Please contact me by private message or
TorontoMining@Outlook.com
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