Ice Rock mining is a unique project that is based basically on crypto mining, it provides crypto mining services in it crypto mining facility located in Almaty Kazakhstan, carried out by Woodland Networks L.P, Northern Ireland. It offers to its investors a simple and a reliable mechanism for distributed investment in bitcoin mining. It additionally offers a project offering to purchase a share in the mining business and to receive an income every month as a co-owner of a large project. The organization will accredit it investors' dividends as per the savvy contract and investors' share in the project. IRM are anticipating mining any profitable digital forms of money and selling ming contracts to customers. The customer will decide which currency they wish to mine when they select their agreement. The base payment for mining contracts will be set at 5 ROCK tokens which equals $5. Mining equipment works every minute of every day so often there's technical deficiencies, rather than sending miners away for repair, Ice Rock Mining intend to have 4 staff dealing with revolution 24/7,365 days per year servicing the greater part of the equipment to dodge excessively downtime.
Miners' Business Model
The business model of a professional crypto miner resembles this:
The underlying investment is spent on hardware.
There's the running expense of hardware; for the most part electricity and maintenance (to make sure the hardware operates day in and day out).
Income is paid in cryptocurrency. It needs to cover the running expenses, repay the underlying expense of hardware and (hopefully) generate a profit.
This is a very regular model for infrastructure investment in general, including power plants or hotels. The underlying investment in the asset must be recovered with profit by the revenue generated by the asset. The essential suppositions behind this specific mode are the accompanying:
The price of the cryptocurrency won't decrease (it will increase, or if nothing else remain stable).
It is more profitable to invest in the mining process than to just purchase the cryptocurrency directly. For example: Investing, say $1,000 in mining bitcoins in the beginning of the year will generate more bitcoins over the year, than just purchasing $1,000 worth of bitcoin in any case.
This means the miner, and additionally every other asset investor, needs to manage the dangers involved resulting from the suspicions above. Specifically: they ought to mitigate the danger of cryptocurrency price drops, make sure they keep electricity and maintenance costs low and their hardware is constantly powerful enough in the weapons contest to mine enough new crypto coins. The favor term 'dangers management' essentially means answering the accompanying questions about something that can happen in the future that is different than now: by what method will the change affect the business, would we be able to prevent it, what amount would the prevention cost. For example: at the present time bitcoin costs $15k. In 1 month it can cost $5k or $50k. In the event that it costs $5k, we can't stand to pay the electric bill. Would we be able to prevent it from happening (one alternative is pay the bill in bitcoin)? What amount would it cost (the lost profit if bitcoin remains at $15k or higher)?
How Does Ice Rock Mining Work?
You invest in their project by purchasing their tokens, IRMs. Once the project goes live in June 2018, you are paid toward the end of each month. Furthermore, if the price of the IRM token goes up in the marketplace, you earn just from holding the coin.
Ice Rock Mining is driven by what is called an Ethereum Smart Contract. That means that there are no human entities overseeing when and how you get paid. It is altogether handled by the Ice Rock Mining Smart Contract that keeps running on the Ethereum Blockchain. It is an agreement between you and the code in the agreement, not between you and a human who can steal your money.
Ice Rock Mining mines Bitcoin and toward the end of the month converts it to Ethereum and you see Ethereum consequently deposited into your Ethereum wallet.
Benefits
Low cooling costs, making their ranch more efficient.
Cheap electricity at just $0.03 per KW, Kazakhstan has regional rates with the cave being in one of the cheapest areas.
No development costs, the cave is already set up and no rent costs due to them already owning the cave.
The cave is located close to a reservoir, meaning that in the future they could potentially introduce a pressure driven pump to generate electricity.
Ice Rock Mining Business model
Set up mining operations inside a post-soviet secret bunker (!) inside a mountain (!!), so you benefit from one of the cheapest electricity prices on the planet ($0.03/kWh) and year-round low ambient temperature (no cooling costs). This is likely one of the most cost efficient mining projects out there. Its located in Kazakhstan, which is great when costs are a concern. Be that as it may, it may be a disadvantage where maintenance and repairs are concerned (accessibility of hardware, reaction time) or when dealing with nearby temporary workers and authorities (unforeseen extra expenses or delays with permits etc.).
The cheap electricity is supplied by a hydroelectric powerplant, so it's renewable and available all day, every day.
Cloud mining is offered on a 'per hash rate' premise.
ROCK TOKEN DETAILS
Token: ROCK2
Price: 1 ROCK2 = 1 USD
Platform: Ethereum
Accepting: BTC, ETH, LTC and BCH
Least investment: 100 USD amid Pre-sale and 50 USD amid Main Sale
Hard top: 13500000 USD
Nation: Kazakhstan
ROCK, can be redeemed for cloud mining services offered by the organization. ROCK are likewise supposed to be purchased back by Ice Rock Mining at a fixed price ($2 in Feb and $3 in May 2018). I didn't see any details of this operation, like planning, volume, what number of token will be repurchased, etc. This part sounds disturbing. Phase 1 of the ICO offered ROCKs at $1.2 in early November. Getting them back at $2 in early February means paying 166% more in 3 months, or 664% every year! For what reason would you do that? That is most likely more than advance sharks would charge. The latest well known example of such a business practice was Bernard L. Madoff Investment Securities LLC and Charles Ponzi somewhat earlier. I'd love to hear from the Ice Rock Mining team and understand more about this piece of the arrangement. By purchasing the ROCK2 tokens, you acquire a share (stake) in the project and begin earning profit in ETH as per the percentages of the share of ownership from the principal day since the launch of the second phase of the ICO due to a savvy based on the Ethereum.
Visit the links below for more information:
WEB: https://icerockmining.io/
WHITEPAPER: https://drive.google.com/file/d/1h8Njerb8qePWsjxrAon4jgHg--nt_cF1/view
TELEGRAM: https://t.me/joinchat/Emenog0u3kyNRusZjFbFWA
TWITTER: https://twitter.com/icerockmining
FACEBOOK: https://www.facebook.com/IceRockMiningICO/
Authored by Lelvin: https://bitcointalk.org/index.php?action=profile;u=1275173
