Dear shareholders.
SHA-256 Mine IPO was cancelles as we failed to place Round 1 shares by 18-th of June.
All investmnts were refunded.
We apologize for this situation and hope that our future products will be highly demanded.
Best regards,
cbcm.co team.***
Cross Board Coin Mine SHA-256 Mine is a hosted bitcoin mining project with planned capacity of 1,000,000 GH/s or 1,000 TH/s of hashing power, that represent around 1% of total hashing power.
About The Project
The
SHA-256 Mine is a hosted mining project with planned capacity of
1,000,000 GH/s or 1 PH/s of hashing power within next 3 months (that is around 1% of total hashing power deployed in the world).
The core hardware for the mine will be the 28-40nm chip units from
Spondoolies-Tech. These devices have outstanding specifications when it comes to power consumption and hashing power, which, in turn, means
CBCM will be able to keep power and hosting costs at a minimum.
The strategic partnership with
Spondoolies-Tech and
WPT Limited means
CBCM will have access to future chip developments at the most competitive rates on the market.
CBCM will reinvest 30-50% of the mine’s net revenue in additional hashing power. Any change of reinvestment rate cannot differ more than 5% from previous period value. This means that as the
SHA-256 Mine continues to grow, each share will, in turn, represent more hashing power. 70-50% of the net revenue will be paid to shareholders through a dividend. Dividend payments will be weekly.
First dividend date is set on 30-th of June 2014.For the period of June-July 2014 reinvestment rate is set at 40% level.
Deployment of the first 400 TH/s of the
SHA-256 Mine will start in June, 2014.
The costs of maintaining the mine are: electricity costs, hosting costs and maintenance costs. We will be as transparent about the operational costs as possible. We expect total monthly costs will not exceed $0.2 per 1 GHs during next 3 months, and will be lower after SP30 miners and other efficient equipment are deployed.
CBCM will regularly update all relevant information about the
SHA-256 Mine so that unit holders can evaluate the performance, capital outlay, and future of the project. It will make this information available through the
Havelock Investments website, a regular newsletter, and periodic updates to its website (cbcm.co), and a forum it has created on bitcointalk.org.
The IPO
Currently there are no units outstanding. All units will be offered in the IPO on
www.havelockinvestments.com All units will be offered in 2 ways:
- During the IPO placement;
- At permanent rolling placement.
The IPO is divided into 8 rounds 5,000 shares each. Price wil start from 0.042 BTC per share at Round 1 to 0.0455 BTC per share at Round 8.
IPO will start on Wednesday, June 11 and finish on Friday, June 27.All funds will be used to start
SHA-256 Mine and to provide the ability to close and make down payments for deals for future deployment of mining equipment.
Rolling placement
After IPO is placed
CBCM will start permanent rolling placement. Each rolling placement will start on Monday 12:00 noon GMT and last during next Monday 11:59:59 GMT. Maximum number of units offered each week cannot exceed 5 000 units.
All units that are placed during this stage are placed under ticker
"SHA". After each weekly placement all placed
"SHA" units will be converted to
"SHA.R" units automatically. Each newly placed
"SHA.R" unit represents the same quantity of GH/s as traded
"SHA" unit. Weekly placement price cannot differ more than 10% from average weighted weekly market price for the previous trading week.
All converted units are included in dividend distribution on next Sunday.
Raised funds are to be directed to deployment of additional mining equipment and cannot be used for other purposes.
Havelock Investments provide escrow service for raised funds during first 8 round of IPO. That means that bitcoin will be paid to Spondoolies-Tech directly for the purchase of the equipment. Link to Fund's page at Havelock Investments:
https://www.havelockinvestments.com/fund.php?symbol=SHALink to IPO page at Havelock Investments:
https://www.havelockinvestments.com/ipo.phpLink to official IPO Prospectus:
https://www.havelockinvestments.com/reports.phpOfficial cbcm.co web page:
www.cbcm.co (to be updated soon)
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