Good afternoon everyone,
We have returned from our trip to Canada where we had exceptionally productive meetings with energy supplier and mining facility managers.
A letter of intent has been signed to purchase, upgrade and maintain the facility after the crowdsale.
You can find the copy here.You can also have a glimpse at our
video from the facility.Before the comments are addressed, we would like to clear the confusion about the Mintmine relationship with Vadim Kirichenko.
Vadim is not the shareholder of Mintmine LLC, and will not obtain Mintmine Tokens.
His role is in the team is Mining Developer. His company provides industrial scale miners hosting and management.
Our current miners are managed by him. After the crowdsale he will arrange all the necessary work to install and maintain S17 miners.
We have chosen to work with him, because he has over 7 years of experience in mining and has built industrial scale data centres from the ground.
We are certain that he has the necessary skill set and expertise to successfully carry out Mintmine operation.
They should make a video walking into their "mining room", because as we see those pictures are taken from the internet= FAKE MINING ROOM PICTURES (?)
Here is a video walkthrough from the facilityAlso here are additional images from the facility:
Regarding the duplicate image, mentioned power block photo has been taken from bitcoinminerhosting facility located in Huntington.
Same place where our S9 miners are hosted.
After the crowdsale Mintmine will purchase Huntington facility, we already have signed
the letter of intent.Why we will relocate S9 miners?
Power consumption of 1080 S9 miners is roughly the same as 700 Antminer S17, however mining efficiency of S17 is 2.7 times Higher than S9. Therefore we will relocate or sell our existing miners in order not to waste available electricity supply. This decision will depend on the market conditions in January 2020 - the date when mining begins.
Mintmine does not own bitcoinminerhosting.com. We have no control over the management decisions. As you know many mining farms were forced to scale down because of market conditions in late 2018.
Wisdek has address same as Bitcoin Miner
Wisdek is one of the businesses ran by Vadim and 180 Brodie Drive is the address of its office. It is BBB accredited company that has successfully been working for over 11 years. You can find BBB accreditation here
https://www.bbb.org/ca/on/richmond-hill/profile/internet-marketing-services/wisdek-corp-0107-1164163It makes complete sense to manage multiple businesses from the same headquarters. On the BitcoinMiner website it’s written that 180 Brodie Drive is the office of the company.
Mining facilities are located in other locations.
Vadim is not the shareholder of Mintmine Ltd, and will not hold Mintmine Tokens.
His role is Mining Developer of the operation. We have chosen to work with him, because he has over 7 years of experience in mining and create mining facilities from the ground. We trust his expertise to develop Mintmine's mining farm.
The closest dam is Milne Dam and it doesn't produce electricity but it does hold back its radioactive water. Wait, hey make it a nuclear-power mining outfit.
This couldn't be further from truth.
Electricity for miners is purchased from Hydro Quebec, which is the major hydro electricity producer in Quebec.
There are 63 hydroelectric power plants in Quebec region, with 259,020 KM of transition lines.
http://www.hydroquebec.com/residential/Currently miners are hosted in Huntington, in a radius of 100 km there are roughly 15 hydroelectricity power plants.
Largest one in Cornwall with 1045 megawatt, just 80 km drive from the facility.
There is an interactive map of all power plants across Canada for anyone who wants to explore it.
https://www.canadiangeographic.ca/article/interactive-map-shows-hydropower-infrastructure-canada... implying that they own all the miners.
Mintmine does not imply that we own miners belonging to bitcoinminerhosting.com.
We purchased S9 miners and located them at their premises and which are managed by Vadim.
He also manages over 20,000 miners in different data centres.
Raised funds during the IEO will be used to purchase the electricity for 1 year upfront with 2 more years as reserve.
That way token holder will manage to get payouts even through the bear markets.
Rest of the funds will be used to upgrade facility up to 6.7 megawatts, purchase S17 miners (unless a better hardware becomes available) and purchase the facility itself to reduce maintenance costs.
You can find more details regarding fund distribution and allocation plan in
our whitepaper.
