DataTank Mining: 1.2MW 3M Novec Immersion Cooled 2PH Mining Container

[DataTank-PR]

Thanks to everyone for their enthusiasm! The DataTank team is glad to see this offering come to fruition after much careful thought and planning.

Glad to see that this project will be run by allied control themselves and not one of their customers.

Few questions:

<$820/T (<$0.82/G)

Is that including the cost of the asics?

$18/kW total operating cost per month

Is this accurate? That translates to about $0.025/kwh which would be incredibly good.

Yes, the cost of the ASICs are included in that calculation and the $18/kW is accurate as well. The significantly decreased operating and cooling costs are some of the main competitive advantages of the DataTank containers.

hmmm hmmm hmmm ... so shareholders are buying shares=MWs, so it will be something like buying dedicated hashrate in a cloud mining operation like cex.io ? So no profit for shareholders from company sales ? Just from mining, so its just like 3-6months pre-order space for hosted cloud mining ? Am I seeing this right ?

Unit purchasers are purchasing either ASIC Mining hardware + the DataTank capacity/infrastructure (DTMA) or solely the capacity/infrastructure (DTMB) on a per-container basis.

This way, investors can choose whether they would prefer to invest in both mining hardware and capacity or simply capacity/infrastructure to be rented to others.

DTMA holders will own both the mining hardware and the container (capacity), allowing them to determine the direction of the mining operation and the capacity. The most efficient hardware available at the time of deployment will be used.

As I see this:
DTMA shares - full containers are build, with hashing hardware, 100% net profit from mining as dividends, 3+ months after IPO
DTMB shares - only containers are build, rented to clients who provide hashing hardware, 20% net profit from mining to shareholders

No sales of containers, but hashing hardware can be replaced later, with some future reinvestment plan?

DTMA unitholders will own the mining equipment, so they will determine whether or not to reinvest mining profits to purchase additional hardware. DTMB will seek to sign profitable agreements with mining partners, whether they be revenue share, straight lease, or some other revenue model.

Revenue forecast tables on page 15 in Prospectus are done as the mining starts.. yesterday (diff first month 12750M)?

This forecast is simply an example if DTMA were to deploy today. Completed containers will be outfitted with the most efficient mining hardware available at the time of deployment.

Interesting!!  I'd love it if friedcat could confirm/deny any statement/sentence in the OP...

Patience, young Padawan  

[aoshea]

From the prospectus:

DataTank Mining will deploy up to 10 container mining systems (12MW / 24 PH / 60 Tanks) within 3-6 months of successful completion of the IPO (ie. Q3 and Q4 of 2014). Two locations with renewable electricity at around $0.02 per kWh are available. One location is within the USA, a second location is available with similar electricity cost, in a free trade zone with favorable climate and no import or export restrictions.

Wow, I had no idea electricity could be that cheap.

[NotLambchop]

So whaddaya'all think, a blue chip like NEOBEE, or not quite?

[hdbuck]

awesome
GG to you guys.
so hum what percentage will be the float for public shareholders? IPO price?

edit: from prospectus

Example Franchising ASICMiner Hardware 80/20
 
DataTank Cost: 1100 BTC | PSU+PD: ~0.16 BTC/kW | B units: 111.6k | IPO Price: 0.0115 BTC
 
Time Diff (MM) USD/BTC Mining BTC Dividends BTC
Month 01 12750 630 2207.14 441.43
Month 02 19125 630 1457.70 291.54
Month 03 28688 630 958.05 191.61
Month 04 43032 630 624.97 124.99
Month 05 64548 630 402.92 80.58
Month 06 96822 630 254.89 50.98
 Total Dividends: 1,181.13
 
 Per Unit: 0.0106
 
 6-Month Yield: 86%

OMG OMG

[buyandhold]

 has produced... ASIC boards in large quantities ... Our first larger scale immersion cooled cluster consisted of 6048 Xilinx®Spartan-6 FPGAs in 24 tanks and was built in early 2012 with the Bitcoin still below $5.

So you've got a couple coins stashed away?
and
Why in heaven list on havelol? You know it's shady as hell.

[antirack]

has produced... ASIC boards in large quantities ... Our first larger scale immersion cooled cluster consisted of 6048 Xilinx®Spartan-6 FPGAs in 24 tanks and was built in early 2012 with the Bitcoin still below $5.

So you've got a couple coins stashed away?

I wish.

Why in heaven list on havelol?

Capacity is also available via direct purchase.

[aahzmundus]

Second the request for FC verification that DataTank is a current partner.

[jimmothy]

@ datatank-pr

I noticed you expect each 1.2mw container to house 2PH.

Does this mean that asics have been tested at 0.6w/gh?

[Jutarul]

I can confirm that this offer is legit.

Please do your due diligence w/ respect to the viability of the investment (which means run your own numbers).

[damiano]

Finally something interesting pops up

[Chris_Sabian]

This is the first mining prospectus that I've seen with difficulty numbers that could actually make sense.

96,822 billion by the end of 2014 is very possible.

I'm am very interested in this.

[mc_lovin]

I'm still skimming through, forgive me if this is obvious, but what is the valuation in BTC of the IPO?  I see DTMA are 0.028 BTC (listed as 'example' so subject to change) and if you have 60,000+ units you can be a board member.  That's like 1,680 BTC per board seat.  How many shares are there?

[Korbman]

I'm still skimming through, forgive me if this is obvious, but what is the valuation in BTC of the IPO?  I see DTMA are 0.028 BTC (listed as 'example' so subject to change) and if you have 60,000+ units you can be a board member.  That's like 1,680 BTC per board seat.  How many shares are there?

I second this.

They obviously already have a very solid business in place, or so their prospectus leads me to believe...so why create an offering in the first place? From what we've seen in the past, usually there's some monstrous amount of total shares (e.g. 111.6K "A" units out of 1,000,000 released to the public, giving them an instant value of BTC28,000). This is speculation of course, but I am a genuinely curious.

[jimmothy]

I'm still skimming through, forgive me if this is obvious, but what is the valuation in BTC of the IPO?  I see DTMA are 0.028 BTC (listed as 'example' so subject to change) and if you have 60,000+ units you can be a board member.  That's like 1,680 BTC per board seat.  How many shares are there?

I second this.

They obviously already have a very solid business in place, or so their prospectus leads me to believe...so why create an offering in the first place? From what we've seen in the past, usually there's some monstrous amount of total shares (e.g. 111.6K "A" units out of 1,000,000 released to the public, giving them an instant value of BTC28,000). This is speculation of course, but I am a genuinely curious.

Minimum is 5 containers. It will probably be 120,000 shares per container so 600,000 shares or 16,800 btc.

[mc_lovin]

I'm still skimming through, forgive me if this is obvious, but what is the valuation in BTC of the IPO?  I see DTMA are 0.028 BTC (listed as 'example' so subject to change) and if you have 60,000+ units you can be a board member.  That's like 1,680 BTC per board seat.  How many shares are there?

I second this.

They obviously already have a very solid business in place, or so their prospectus leads me to believe...so why create an offering in the first place? From what we've seen in the past, usually there's some monstrous amount of total shares (e.g. 111.6K "A" units out of 1,000,000 released to the public, giving them an instant value of BTC28,000). This is speculation of course, but I am a genuinely curious.

Minimum is 5 containers. It will probably be 120,000 shares per container so 600,000 shares or 16,800 btc.

That's a lot of cash.  $12 million? 

But in this crypto world it seems like we can raise that kind of money.

Minimum 5 containers.. I feel like an ass for always asking questions without reading anything, but we're raising money as a company to buy as many containers as possible, right?  So infinite shares available during funding rounds?

[toffoo]

Seems interesting, but the last time I bought a bitcoin securities IPO with a "prospectus" this shiny things didn't work out so well for me:

https://bitcointalk.org/index.php?topic=82866.msg1691037#msg1691037

[CanaryInTheMine]

Second the request for FC verification that DataTank is a current partner.

was answered:

Interesting!!  I'd love it if friedcat could confirm/deny any statement/sentence in the OP...

Patience, young Padawan 

[electerium]

I'm still skimming through, forgive me if this is obvious, but what is the valuation in BTC of the IPO?  I see DTMA are 0.028 BTC (listed as 'example' so subject to change) and if you have 60,000+ units you can be a board member.  That's like 1,680 BTC per board seat.  How many shares are there?

I second this.

They obviously already have a very solid business in place, or so their prospectus leads me to believe...so why create an offering in the first place? From what we've seen in the past, usually there's some monstrous amount of total shares (e.g. 111.6K "A" units out of 1,000,000 released to the public, giving them an instant value of BTC28,000). This is speculation of course, but I am a genuinely curious.

lets be clear, They dont have a solid business in place. That's disingenuous.


They do however, possess technology and technical knowledge that is particularly unique; when coupled with a sound business plan could lead to having a solid business.

i'd like to know what the valuation is also, but more importantly, what datatank owns in their inventory pre-ipo is also particularly critical to me; let's see just how invested in this technology they really are and where exactly our IPO money will go towards

[freedomno1]

I can confirm that this offer is legit.

Please do your due diligence w/ respect to the viability of the investment (which means run your own numbers).

Thanks Jutarul I will need to do the numbers again but its good to know that it is confirmed
I did enjoy those videos though from their prospectus.

[cs54]

This seems awesome, but I would be so much more comfortable if the prospectus was less cavalier about securities laws, for the sake of the company and the founders.

I'm not saying they need to call in Simpson Thacher, but paying lip service to the basics would go a long way -- e.g. adding offering legends, subscription documents with accredited investor reps, etc.

Otherwise there will always be a layer of compliance risk, especially given the personal info on Page 8, that could have been avoided.