I am interested in more financial details.
How is it possible to buy back at 4x in such a short time frame? What is the breakdown of costs? For example, you have raised say 100k. A full time security team costs how much? And employees to maintain the equipment? S9 correct? Those are supposed to have reliability problems. What is the projected cost of maintenance? What do the company founders get paid? What is the plan to maintain viability as difficulty increases? What are the installation and extra equipment costs (such as psu, racks, etc)?
Thanks!
Hello, Sir. Nice questions.
1. How is it possible to buy back at 4x in such a short time frame?
- The price of ROCK token at pre-sale was 0.5 $, and ~ 145000 ROCKs were sold.
- The next price was 0.8 $ per 1 ROCK. Today the price will become 1$.
- After 2 weeks the price will become 1.2 $.
- I suppose that the main contribution will be at last period of ICO. It means the value of ROCKs which will be used for buyback program is not so big.
- Most of our backers willing to change their ROCKs on 2-year mining contract.
- And the last moment. We will start selling the mining contracts in December, I mean with a high price to NOT ROCK holders, and it will bring extra profit to Ice Rock Mining farm.
2. What is the breakdown of costs?
- Engineering works. In view of a few engineering works, (there is no need to build something) spendings only 5%
- Equipment purchase and installation 80% (we already started buying, you can see it at youtube channel
https://www.youtube.com/channel/UCxQCi2z51-LU9vgiBeuuGLg )
- Website development and support 5%
- Employees 5% (it is max.)
- Marketing 5% (world should know about the best mining decision of all times )
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3. For example, you have raised say 100k. A full-time security team costs how much?
- You can not even imagine what kind of inflation in Kazakhstan. And the dollar is very expensive with us. Thanks to this, wages are small. And the protection of the object is worth a penny. We already have it.
4. And employees to maintain the equipment?
- Look above point 3.
5. S9 correct? Those are supposed to have reliability problems.
- Sure, like all other mining equipment.
- First way. Our own employees. We have a great experience on repairing the mining maintenance.
- Second way - China (Bitmain is not so far from Kazakstan)
6. What is the projected cost of maintenance?
- Depends on value. Look at point 2.
7. What do the company founders get paid?
- Thet get whole equipment after 2 years.
- They get 10% of the profit from whole mining.
- Iron reputation in the world of crypto-currency mining.
- Great business.
8. What is the plan to maintain viability as difficulty increases?
- Continue the mining, because the price of the cryptocurrency is also growing. There is no other way out. We will continue to simply increase the capacity of the farm. From this, you will not leave. Part of the profit of the founders will be invested in the development of Ice Rock Mining.
9. What are the installation and extra equipment costs (such as PSU, racks, etc)?
- Installation, I mean engineering works are included in employees salary (p.2), and their salary will not be extra high (p.3)
- More than 70% of Ice Rock Mining capacities will be ASICs, and the rest GPU miners. So the extra equipment will be not more than 20% of graphics cards.
Thank you very much for REAL GOOD questions. Most of this info you can find in White Paper
https://icerockmining.io/whitePaper.pdfIf you have any questions please feel fre to ask.
Sorry for long answer, I missed your questions, Sir.
