ICO Review: Ice Rock Mining [ROCK2]
Ice Rock Mining is a new company in mining business and has actually an “initial coin offering” (ICO).
They want to offer bitcoin mining more cost-effective than the competitors. The CEO of Ice Rock Mining, Malik Murzashev, has bought an old Soviet bunker from the Kazakh government, which has been built as a cave system into a mountain. In addition to this cave system, the Ice Rock Mining CEO also owns a large area of the near land. The project ist located in Kazakhstan, near Almaty.
The rent of the location, a very high cost factor, is already paid by Ice Rock, because the CEO owns the cave.
More advantages are the low electricity costs of only 3 cents per kilowatt hour.
Probably the biggest advantage of the concept is the passive cooling of the miners by the constant low temperature of 10 to 12 degrees in the cave.
As a result, not much power is used for the expensive cooling system, which is a great advantage.
The profits of Ice Rock Mining are very high, as you can see on the calculator on the website. This calculations show over 300% ROI. But you have to remember, the calculations were done at a Bitcoin price of $ 13,500 and the mining difficulty is at the level of early January.
For the current level, returns from 150 to 175% a year are more realistic.
The mining-revenues are divided as follows:
– 50% payout to ROCK2 token owner
– 20% reinvestment to buy new mining equipment
– 20% costs for operation, maintenance and repair of the system
– 10% Ice Rock Mining management, PR
Concluding, a total of 70% of all income goes to customers and 30% remain at Ice Rock.
This also secures the financials of Ice Rock in order to survive in the future.
Money from the ICO is spend like following percentage shares:
All ROCK2 tokens that are now being sold in the ICO will later help people earn their mining revenues. When mining starts in July, the bitcoins will be changed by Ice Rock in Ethereum and sent to the addresses on which the ROCK2 tokens are located by “smart contracts”.
The smart contracts recognize on which Ethereum address how many ROCK2 tokens are located and pay the mining revenues corresponding to the amount of ROCK2 tokens you own directly to your wallet.
Not Cloudmining – Ice Rock Mining is profit sharing
By using this token system, you as a customer have another very big advantage compared to previous cloudmining-companies who offer their customers only contracts of hashpower and the money needed for the purchase of the contract has to be earned again (ROI = return of investment, until you have your deposit back). Ice Rock does not have such an ROI, as it’s already profitable on the first day: the ROCK2 tokens that earn mining revenue, have value in their own, such as Bitcoin, Ethereum, and other coins.
So it’s a dividend-paying coin. And this dividend is quite impressive.
Normal cloudmining-companies, offering only a contract, but no tokens, should soon have no more customers when the new system is getting more famous. The mining tokens will be very popular, which can also be seen in a rising of price.
By reinvesting 20% of revenue, earnings per token also are getting to be more valuable.
A really innovative concept, which has the potential to get very important in the future of mining.
They have actually running some Antminers S9 in the cave from project ROCK1, so there are alreday some experiences:
Malik Murzashev, CEO
Mikhail Pluzhnikov, technical director
Dias Kurmanov, ICO manager
Ruslan Murzashev, legal advisor
Ilzat Mamutov, Blockchain specialist
Artem Kazanin, IT specialist
Gurpreet Singh, digital marketing
Rakesh Shalli, digital marketing
Neha Dadwal, marketer
Vadim Suleimanov, PR manager
And some more support members
Max. supply: 20.000.000 ROCK2
Hardcap: 13.500.000 USD
Price per ROCK2: 1 USD
KYC / Whitelist: none
ICO ends: 25 May 2018
January 2018 Start ICO ROCK2
25 May 2018 ICO end
July 2018 start Mining
29 July 2018 first payouts
Disclaimer: This report is only a presentation of the project from my point of view, not an investment recommendation. It should be noted that investments in ICOs discussed in my articles are very speculative. Before you do an investment I advise to look at the side of Ice Rock Mining’s business model and to do your own research: