Mining as a Service. MinedBlock ICO rating – 46
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PRE ICO Dates : 18/02/19 – 29/03/19
Roadmap: 4/10 Legal: 1/5 ICO terms: 2/5
Team: 8/20 Token applying: 5/5 Promotion: 9/20
About MinedBlock ICO (token sale)
MinedBlock ICO offers the opportunity for investors to take advantage of using the resources from a large-scale mining operation without the need to buy, configure and maintain expensive mining equipment. We will offer a fully managed mining service where you can rely on our team to look after the equipment and ensure they are working at maximum productivity 24/7 with the lowest operating costs.
We will create a dedicated mining facility which focuses on mining multiple coins from within the top 50 by market cap to ensure a diverse range of revenue streams for customers to benefit from.
Through the proposed large scale operation, we will help improve the decentralisation of coins where there are already large pools dominating the hash rates of popular coins. MinedBlock will also be working towards decentralisation within our own network through global distribution of our mining data centres.
Mining activities will be continuously monitored and switched between coins when the difficulty and success rates fluctuate. The ultimate goal will be to maintain maximum efficiency at all times.
Mining equipment will be regularly resold and replaced. There will be a split between suppliers of ASIC miners to prevent any kind of centralisation and to increase diversity available for customers to utilise.
MinedBlock will evaluate whether mining as part of an existing mining pool or being reliant on our own hash rate output is the most effective to produce coins.
MinedBlock will utilise a mixture of ASIC token units alongside Custom Built GPU Mining Rigs.
Electricity costs and climate are the key considerations for choice of location as well as considering the political attitude of hosting Countries towards crypto mining, the last thing we would want it to build a mining farm somewhere and then it become a restricted activity.
The first phase of our Mining Farm build will be using ASIC Bitcoin and Bitcoin Cash mining units as they are built ready to use. These will be hosted from a facility in Iceland where the climate and electricity costs are favourable.
Our GPU mining rigs will be built, configured and run from the United Kingdom initially to ensure they are reliable and easy to manage remotely before moving them to a facility in either Iceland, Canada or Sweden.
Adapting to Change
Mining cryptocurrency isn’t as simple as ‘plug and play and walk away’, the team at MinedBlock will constantly be monitoring our mining activities and evaluating where we could switch the miners to an alternative currency to increase profitability. Upcoming updates and forks will also be monitored to ensure we are always ready to adapt.
The MBTX Token
A true ‘Utility’ Token
The MBTX token will be pre-sold as a crowdfund prior to launch of the service but the token itself offers no redeemable value unless it is used to utilise our mining services. Whilst opportunities may arise for future airdrops to holders, they will be for other projects that the founding team are considering as future potential.
The MBTX token will be the key to accessing MinedBlock services and makes no promise or guarantee on future pricing potential.
Benefits for Token Holders
The MinedBlock (MBTX) token is an ERC-20 token based on the Ethereum blockchain. The token is non-mintable and, therefore, will be limited in supply.
When the mining service goes live holders will be required to register their token wallets in our user dashboard. The dashboard will allow customers to monitor the mining operation, with information such as hash rates being achieved and earnings to date.
At the end of each calendar month 75% of mined revenue will be responsibly sold for ETH and will be distributed between registered token holders to their ETH wallets.
Token Sale Details
The exact start date of the Token Sale is yet to be announced but there are some key points that we can call out at this stage:
- MinedBlock decided not to hold a private pre-sale, everyone should have the same opportunity to get involved
- Instead of a pre-sale there will be a huge bonus for the first 5% (20,000,000) MBTX tokens sold
- ICO Tokens will be sold via an e-commerce platform and distributed via smart contracts
- There will be a soft cap target of $3,500,000 – all funds will be refunded if soft cap not met