Ice Rock Mining ICO Review, lifetime passive income from Bitcoin mining?

[cryptomunt]

I have been analysing passive income ICO's lately to switch up my portfolio and earn an additional monthly/quarterly income. And Ice Rock Mining fits right into this category.

Ice Rock Mining, sounds interesting but what is it?
Ice Rock Mining is commercial bitcoin mining, inside of a mountain. That's right, a mountain. I know what you're thinking "yeah right". Well, they already have a running mining operation with 300 ASICS running as we speak. Proof? Check out their website, they have plenty of video's from the inside of the cave, including the operational mining operation.

What makes Ice Rock Mining better than it's competitors?
Ice Rock Mining has two unique features which enable them to reduce their costs substantially:

The mountain
Ice Rock’s mining facility is located in a former soviet military bunker inside of a cave. With a natural constant temperature of 12 degrees celsius, it's the perfect place to mine Bitcoin. Additionally the mine is set up with ventilation shafts that draw in rock cooled air to add to the natural cooling effect. The mine is currently operating with 300 mining rigs and so far temperature instability and overheating have not been issues at all. Total cost to cool down these rigs? $0.

Another big feature about the cave is that it is owned by Ice Rock Mining's CEO, Malik Murzashev. So this project doesn't have to deal with a mortgage, rent or other costs associated with the property.

The location
Due to location of the mountain in the countryside, the company has an agricultural subsidy for electricity which provides them with an opportunity to receive one of the best electricity prices in the world. They have a contract for a generous amount of energy for a very low price: $0.03 per KWH.

Additionally the company owns several pieces of land next to the mountain which makes expansion possible.

Why do an ICO if they already have a running operation?
The team behind Ice Rock Mining realised NOW is a big time for mining Bitcoin. The mountain has capacity for 5000 mining rigs and the team is planning on utilizing all of it's capacity. That's why 87% of the money will be invested in equipment, more specifically the Antminer S9 (Bitmain) which has proven to be the most reliable miner on the market.

What's in it for the investors?
Ice Rock Mining is offering a very generous profit share to their investors. 50% of all profit will be distributed between the investors, 20% will be re-invested into more equipment to expand the mining operation, 20% is reserved for operating costs and maintenance and 10% is for the team that keeps the mine up and running 24/7, 365 days a year.

They have added an investment calculator on the website to give investors an idea of what kind of passive monthly income they can expect. I'll give an example with an initial investment of $1000 down below.

Investment: $1000
Expected payout after 1 month: $284
Expected payout after 6 months: $344
Expected payout after 3 years: $1089

Expected ROI time: 4 months
Expected total payout over 3 years: $21,652

Above numbers are obviously very ambitious but not impossible to achieve. By re-investing 20% of their profit they will increase the mining capabilities expontentially thus increasing the payout month by month. Besides that they are very bullish on Bitcoin, Bitcoin's price increase = more profit.

ICO Details
The Rock 2 token is priced at $1.00, but you can currently buy them with a 45% bonus during the pre-sale phase of the ICO. The minimum investment is 100$ and their presale will end on the 20th of March. The main ICO will then launch and end on the 25th of May. But I am pretty confident this will sell out WAY before that as they are already at 10% of their hardcap in just a few days.

Conclusion
The cloud mining market has grown massively in the last year, and IRM will be mining Bitcoin at the lowest possible costs & thus highest profit margin. They have an excellent location & energy contract and they have proven that by having a mining rig already running right now (plenty of proof to be found on their website). If you are into bitcoin mining and are bullish on bitcoin this is a big opportunity.

Ice Rock Mining gives you the opportunity to receive a very nice passive income as long as bitcoin mining remains profitable. Personally I think their ROI calculator is a bit optimistic, but I have no doubts that this could definetly be a very profitable project. I've spent a lot of time doing due diligence on this project and I've spent hours of chatting with their team members. Which was very refreshing to be honest, I haven't seen such a transparent ICO in ages and they are all able to answer every single question with excellence. Definetly swing by them in their Telegram Channel.

Read more about IRM here: Ice Rock Mining website


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[qazgroup]

I will wait the project to deliver its promises before jumping in, Envion is a similar project but they will take like 6 months after ico to setup everything.. So real mining takes time..

[cryptomunt]

I will wait the project to deliver its promises before jumping in, Envion is a similar project but they will take like 6 months after ico to setup everything.. So real mining takes time..

Yeah, but Envion is a huge undertaking to setup. IRM already has an operating mining rig and the location is fully ready for the expansion. So all they have to do is purchase the equipment, transport it to the location and set it up. That's a big advantage over Envion in my opinion.

[damberg]

Another big feature about the cave is that it is owned by Ice Rock Mining's CEO, Malik Murzashev.

If you want to mine Bitcoin in the US, you buy a rig in a shared datacenter. If you want to mine Bitcoin in Russia, you simply buy a mountain.  

Anyways, as an investor, I do not see long term investment potential in any venture associated with mining only. There is not enough added value.

[cryptomunt]

Another big feature about the cave is that it is owned by Ice Rock Mining's CEO, Malik Murzashev.

If you want to mine Bitcoin in the US, you buy a rig in a shared datacenter. If you want to mine Bitcoin in Russia, you simply buy a mountain.  

Anyways, as an investor, I do not see long term investment potential in any venture associated with mining only. There is not enough added value.

Lol, that's right! To be honest the first time I read about this project I chuckled aswell. And indeed, investing in a project like this isn't because you expect the technology to improve exponentially or think the project will be disrupting industries. However I do think there's a long term possibility here. It'll take a while for Bitcoin to be completely mined, and even if that happens there's plenty of other coins that can be mined profitably. As long as IRM manages to keep the conditions the way they are right now they are in a VERY good position and have an edge over pretty much everyone that is mining.

[iminethereforeiam]

Seems they only plan to mine BTC. I would prefer if they diversify into certain percentage of GPU mining.

[Dutchyyy]

I'm avoiding all types of cloud mining or similar ICO's. Looking at the past project like this, all they turned into scam eventually...

It's better to invest your money into gambling bankroll or gambling ICO.

[cryptomunt]

Seems they only plan to mine BTC. I would prefer if they diversify into certain percentage of GPU mining.

For now, the plan is to mine BTC only. But I'm pretty sure I've seen several comments on mining whatever is the most profitable at that time.

[cryptomunt]

I'm avoiding all types of cloud mining or similar ICO's. Looking at the past project like this, all they turned into scam eventually...

It's better to invest your money into gambling bankroll or gambling ICO.

I would have never invested in a cloud mining ICO, definetly not one like IRM if it wasn't for their proof of being in operation already. If you claim you are building a mining operation inside of a mountain where the energy prices are as low as can be I'd think you'd be scamming me. But if you manage to put it on video, like IRM does, there's no reason to believe they will be scamming.

And if they were I'd actually be pretty surprised. Set up a mining rig inside of a mountain, bringing in several investors for a tour around the place all just to scam people. There's easier ways to scam in this ICO landscape (just start a lending ICO) 

[Ciucas]

I really like projects that offer passive income, and all these potential profits sound nice indeed.
Envion managed to gather 100 million $ from it's ICO, i wonder how much IRM will manage to gather.

[cryptomunt]

I really like projects that offer passive income, and all these potential profits sound nice indeed.
Envion managed to gather 100 million $ from it's ICO, i wonder how much IRM will manage to gather.

Not as much as their hardcap is at +/- 13 million USD. That is all they need to fill up their cave with mining rigs, wouldn"t make much sense to ask for more money which can't be used anyway shortterm. Although I did read they own several pieces of land around the cave aswell so they do have the ability to expand if they want to.

[cryptomunt]

Another big feature about the cave is that it is owned by Ice Rock Mining's CEO, Malik Murzashev.

If you want to mine Bitcoin in the US, you buy a rig in a shared datacenter. If you want to mine Bitcoin in Russia, you simply buy a mountain.  

Anyways, as an investor, I do not see long term investment potential in any venture associated with mining only. There is not enough added value.

A mountain in which they've built old soviet secret bunkers. This could easily pass as some kind of story you read to your kids lol.

Lol, yes it does! However feel free to ask any questions if you have them. I have done my due diligence and can answer pretty much everything that might concern you.

[bolawin]

Better wait until it run properly, it will not generate money until it run in 6 month, better stack btc or other altcoin and buy later on the market (if they not scam).
Mining is more difficult now and to give a guarantee profit 400% is flag, also ethereum will move to pos so...

[cryptomunt]

Better wait until it run properly, it will not generate money until it run in 6 month, better stack btc or other altcoin and buy later on the market (if they not scam).
Mining is more difficult now and to give a guarantee profit 400% is flag, also ethereum will move to pos so...

First payment is scheduled for may when ICO runs it entire length, although I believe they will reach hardcap way before they've planned to. So roadmap will be accelerated and payments will happen sooner. Ofcourse you can buy it on exchange after, although I'm pretty sure you will be paying a much higher price. Doesn't make any sense to sell these tokens right away, even before payments start.

The 400% profit isn't guaranteed, it's based on the best estimates the project could have made at the time they've started their ICO. Maybe not 400%, but I'm pretty sure this is going to pay out some very nice profits on a monthly basis.

[tr704]

Blockdesk.io (Amir Ness, Yaniv Matalon, Liad Pasic, Samir Chandra) have secured a bulk mining agreement with Ice Rock management(ARE ROCK2 HOLDERS GETTING CHEATED?)

[Sandra9]

I like how mining competition is pushing companies into increasing their production efficiency. It actually goes against all the FUD regarding cryptos harmful effects on the environment. Find me another asset that has this little footprint on the environment once being extracted. Please

[disconnectme]

There is no doubt there is money in mining if the figure quoted that Bitman made last year mining cryptocurrencies are anything to go by, which was projected to be $2 billion even quarter of that is very huge, but the concern I have is that most of these new companies will have hard time breaking the monopoly of Bitman in the space

[cryptomunt]

There is no doubt there is money in mining if the figure quoted that Bitman made last year mining cryptocurrencies are anything to go by, which was projected to be $2 billion even quarter of that is very huge, but the concern I have is that most of these new companies will have hard time breaking the monopoly of Bitman in the space

Agreed. That's why cost-efficient mining is very interesting right now. And with a 25% cost reduction they will definetly have a good chance to compete with anyone at this point. Although it's impossible to predict what will truly happen.

[pyschologicalcloset]

Are there any mining projects like this that are actually operational and paying dividends? The only one I know of that is close is Envion, who is at least giving regular updates but won't start paying until July-ish. Are there any that have managed to get up and running as promised?

[mikyadel]

they did huge marketing campaign , you can see their ads everytime i watch a video on YouTube , i believe good project doesn't need that stuff , it can promote itself by its new technology or solve a real problem .