Sorry for late response. I had interview on national TV yesterday and we were blown away by messages and meeting inquiries locally.
Today we had meeting with Techno Park (Georgian Innovations Agency), we talked for two hours, they expressed interest and support for our project. They will provide legal/financial/business consultancy by Deloitte, they will provide us with 24/7 modern office infrastructure and will help to promote project both locally and internationally.
1. You have 96 GPUS ? What Are they ? - we have MSI RX580
2. What are you going to Be mining Exactly ? Altcoins, Specify ? What about Bitcoin, Bitcoin Cash ? - we plan to have following portfolio (may change slightly): 50% ethereum, 20% bitcoin, 10% dash, 10% monero, 10% zcash.
3. How many more GPU's have you ordered ? Can you show us the invoice and the payment made and expected date of the order arrival ? - we have ordered RX580 sapphires and P106-100. sorry but I cant provide information about our suppliers, it will also bring their stocks down, which is not in our interest.
4. Who is your main supplier ? Do you have any further connections with them ? - we have three main suppliers, which we consider for bulk purchases, one is in Dubai, one is in Singapore and one local representative for peripherals.
5. 96 GPU/7= around 13 mining rigs. My friend has 12 Mining rigs at his garage, why should I give money to you and not to him ? - This is PILOT mining datacenter, this is not collateral for your investment, nor it is to show our financial input.
6. Why do you need 50 Million USD ? Can you Specify allocation of the funds ? - Datacenters will be built in several stages, it is not one stop shop. First stage should be finished by February if all goes well. Fund allocation after project is full funded will look like this:
Grid connection 1,238,542 2%
Servers 40,000,000 80% (including networking infrastructure)
Building 1,333,333 3%
Ventilation/Cooling 266,667 1%
Other costs 1,000,000 2%
Working Capital 2,000,000 2%
The rest amount will be spent on coin repurchase.
The aim is to spend as small amount as possible for anything other then GPU/ASICs, thus bringing down $ cost / MHs.
7. Are you going to buy mining just with GPUS? -No, ASICS also, but with smaller share ~20%
8. What is you profit after electricity costs and maintenance currently at your 96GPU & hashrate? - We pay around 700$ for electricity per month, hashrate is ~2,800 MH/s, Profit is 5-6 k $.
9. Can you provide us with the info to look at your hashrate on blockchain ? -Sure:
http://dwarfpool.com/eth/address?wallet=3f5ad69e3609c5e8f0922a44f5e7baa0ed9dec7810. Why do you think you can raise 50 Million so easily ? -Nobody says it will be easy, though we are determined. We don't plan actually raising all of that amount through crowdfunding, we are negotiating with several investment funds and private investors, we already booked 25% and will book another 10-15% of total cap for private investors. We will announce names once deal is signed, I hope it will be before ICO.
EOS did it because it has technology behind, great team, motivation and a specific goal, and it hasnt succeeded yet, same goes with Tezos... -Their business model is software based, our business model is hardware based. For hardware projects 50 million is not a big deal at all.
11. Why do you need to mine Etherium, to Issue your Own token ? Why just issue your token based on etheirum blockchain ? -We are considering double blockchain option, working on it. We don't want to delute total number of coins, trying to figure out technical ways.
12. Are you just selling your Coin, technology behind it ? or what are you exactly selling ? -We are building mining datacenters, for funding this project we issued our token, which we are selling.
13. Will token holders be holding shares in the company that you will register, will they own assets as well eg: GPU's, or even land ? As an Investor what would I own if I invest in your company. -Tokens represent shares in the company, however there is no legal binding and no legal obligations, just our intent and promise to repurchase tokens with generated revenue. However we are willing to offer legal shares in the company for large investors, though their equivalent tokens should be put on escrow.
I would love to fund projects like this only if something is already build and I (or crowdfund) can help to expand but I will give you some examples what Bitfury can offer and I quote:
We do have our 7.5PH, 1.1MW Blockbox AC available.
Price starts at USD800K, based on a 50/50 profit share which takes effect after you recover your initial 800K investment. The Box will be hosted at our facility in Canada for a USD50K monthly fee to cover electricity and other expenses. Minimum investment is USD5M.I hope I am allowed to disclose my special offer from bitfury, which might not be offered to someone else.
So why you ? and Not Bitfury who has been on market since 2013, who has already built something and is asking money for expansion... -They are mining only bitcoin, they have high maintenance costs, high entry barriers.
I got offer on table to pay 800K and Owe 7.5Peta Hash SHA-256 Power, and with only 1.1 megawatt energy usage. 7.5 Peta hash is 7500 Tera Hash.
Why do you need 50 Mil, how many peta hash do you think you can achieve or how many THS of Dagger-hashimoto for example ? -We will have ~2.5 TH/s Dagger-hashimoto power.
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