The Advantages of Ice Rock Mining for the Small Crypto Investor

cryptomoose1 (25)in #cryptocurrency • 6 years ago

Ice Rock Mining is a unique, collective bitcoin mining start-up company. The set-up is not a cloud mining operation where users mine from their own machines after joining a pool. Cloud mining is based on contracts and hash peers.

And Ice Rock Mining is not an interest-based financial lending scheme. Many of the lending schemes are decentralized, self-regulated financial payment networks based on bitcoin lending through coin staking and cryptocurrency mining.

The best way to describe Ice Rock Mining is that it is a profit-sharing arrangement between Ice Rock Mining and its investors who hold their ROCK2 tokens. The mining rigs are housed on site and mine bitcoin. At monthly intervals 50% of all Bitcoin mining profit are shared from the mining operations with its token holders. To do this the mined Bitcoins are converted to Ethereum (ETH) and distributed to investors proportionately based on the amounts of ROCK2 tokens that are held in their wallets (eg. MyEtherWallet). The 50% profit-sharing of all mining operation profits with investors is for the long term. As long as investors hold ROCK2 tokens in their designated ERC-20 wallets they will get ETH for life.

The remaining 50% is split between: 1) 20% electricity and site maintenance; 2) 20% Reinvestment into equipment and maintenance; and 3) 10% take by the company owners.

The 20% share of the mining profits are reinvested into buying, upgrading and maintaining the mining rigs themselves is of great importance. It ensures the mining farm will continue to grow over time and new machines will be added to increase the number of machines and the overall hashing capacity. The re-investment ensures that the dividends will constantly grow over time.

Ice Rock Mining has many advantages over cloud and lending mining schemes as it has some of the cheapest electricity rates globally being situated very near to a hydroelectric power station that can provide green, low cost electricity.

Unlike other mining farms Ice Rock Mining has no mortgage, rent or leasing costs as they own the land and bunker.

The natural cooling of the bunker means that there are no cooling costs. The constant low 10-12 degrees Celsius, low humidity atmosphere is ideal for maintaining cool mining rigs. Compare this to larger mining farms that use large, expensive electrical air fans and water cooling systems.

The site set up means that Ice Rock Mining will have extremely low start up, operational, and maintenance costs compared to other crypto-mining farms.

During the ICO that runs until May 25th 2018, purchases of ROCK2 tokens can be made in Bitcoin or Ethereum. The minimum investment is $100 USD of BTC or ETH. Tokens kept in an ERC20 wallet, will receive the payments in ETH automatically. Wallets can be registered on the Ice Rock Mining Website after signing up. Mining is scheduled to begin in July 2018.

The payouts will depend on the amount of bitcoins mined, the market prices of bitcoin and ethereum at the time of conversion for payouts to ROCK2 token holders, and of course the amount of ROCK2 tokens held by investors.

ROCK2 tokens are on offer at a very cheap price of $1 USD per ROCK2 token. The tokens will be tradable on some cryptocurrency exchanges after the ICO ends but given the unique mining set-up that offers ETH dividends for life the tokens will likely be held and accumulated by investors.

Summary

Ice Rock Mining has many advantages over traditional mining set ups. The collective profit sharing that essentially provides a dividend as long as the ROCK2 tokens are held is enticing compared to other cryptocurrencies that are held often for speculative investing.

ROCK2 and Ice Rock Mining look to be a great investment in the future of cryptomining. The days of individual CPU and GPU mining of Bitcoin are long gone due to the increasing hash rate. Ice Rock Mining provides a collective mining approach that splits the profits and allows small investors the ability to see profits from bitcoin mining.