At the Black Sea Blockchain Summit in Georgië on 25 April, 2018 I talked to Beka Vashakidze from Ambit Mining about the next generation mining infrastructure and their ICO.
About Ambit Mining
Ambit has a track record and experience in running a successful mining operation. They have already constructed 1 MW diversified facility in Tbilisi Free Economic Zone, which has achieved 100% ROI in just 5 months. Building on this successful project, Ambit now aims to scale its operation to 20 MW and invites mining enthusiasts to join the family. Their experience in this field, helped them to secure partnerships with the leading hardware manufacturers and tech companies, which will allow them to run a successful and profitable mining operation.
All their mining units are powered by 100% renewable hydro energy, ensuring low cost and green electricity supply at only 5 cents per kW/h.Location
The farm is located in Georgia, one of the most crypto friendly countries in the world, with abundant green electricity and favorable government regulations.
Ambit has already constructed 1 MW diversified farm in Georgia, which generated over 1.3 mln profit per year, with this experience they aim to further expand our operations and to share the profits with the community.
The mining farm is located in Tbilisi Free Economic Zone, which is a tax free area in Georgia. Meaning that operation will be exempt from majority of licenses, taxes and will benefit from the simplified procedures.
Ambit will partner with the major mining hardware manufacturers and will install cutting edge cooling and wiring solutions in order to optimize the costs and to ensure maximum profitability.
One of the most crypto friendly countries in the world
Strategically located at the crossroads of trade and commerce between East and West, Georgia is ideally positioned to access markets of Asia, Middle East, as well as Europe and the CIS countries. Nowadays Georgia is quickly adopting blockchain technologies, it is the first country to secure land titles on the Bitcoin blockchain, there are around 60 thousand ATM's were you can buy BTC and other major cryptocurrencies. There has been a rapid rise in producing Hydropower energy, which resulted in one of the most competitive electricity prices as cheap as $0.05 KW/h. The low energy price encouraged people to start mining in Georgia and the country quickly became one of the biggest producers of Bitcoin.
AMBT is a token with payouts, that entitles the token holders to the percentage share of the total profit of the mining and hosting operations, which will be paid out on bi-weekly basis. Allowing every mining enthusiast to become part and enjoy the benefits of the large mining operation.
Token with Payouts
Token holders will be entitled to the profit share from the Ambit mining and hosting operations, which will be paid out bi-weekly in ETH at pro-rata basis.
Ambit provides an opportunity for diversifying the risks, by investing in the mining infrastructure. Since the farm will be mining using both ASICs as well as GPUs, the income is not dependent on a single coin’s performance.
Ambit believes in a community driven business and decentralization, so 85% of the total token supply will be available for the public sale.
In case of sale of assets, such as ASICs or GPUs, when they become outdated, the proceeds will be paid out to token holders at pro-rata basis.
Token holders will have the voting rights, which means that they will be able to participate in certain business decisions, when it comes to innovation and improvement of our operations.
Token Sale Volume: 88 million AMBT
Token Issue Volume: 104 million AMBT
Token Price: Equivalent of 0.5 USD
At Ambit, we believe in a community driven business and decentralization - the core idea behind the concept of cryptocurrencies. In order to stay true to these beliefs and the promise of decentralization, we decided to offer a vast majority of our tokens - 85% to the public, while the remaining 15% is split among team and advisors, company reserve and bounty campaign.
If you like to participate in their ICO, check: ambitmining.io
My goal is to check ICO’s and tokensales so it will be easier for you to decide if you like to participate. I will judge on several parameters, which will limit the change of failure.
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