Interview with Ice Rock Mining
Ice Rock Mining – Q & A
27 January 2018
We are interviewing Amir Ness of Ice Rock Mining, a crypto mining company registered in Ireland with offices and operations in Kazakhstan, on 27 January, 2018.
Planet Blockchain: You believe that Ice Rock Mining “is the future of mining”. Would you explain to our community why?
Amir Ness: Well, it’s simple. Mining is about cost efficiencies. Our greatest asset, aside from the team, is our cave. We mine in a former soviet military bunker that fits 5,000 ASIC miners. The owner of Ice Rock Mining, Malik Murzashev, has placed the mine as a free asset into the ICO. Our land cost is almost nothing. On top of that, power is only .03 cents per kilowatt hour, that’s among the lowest in the world. Because we spend less, we have more margin to offer our token holders. To top it off, we have almost no cooling costs because the mine maintains a year round constant temperature of 12 degrees Celsius. This ICO is different in that we offer token holders 50% of profits. It’s not a cloud mining contract that ends in two years, it’s ownership in the mine’s profits. Our current difficulty and hashrates allow us to pay investors about 20% return per month, that’s a 4.5 month ROI.
The future of mining is the most efficiently run mine, that’s what we are.
PB: Which cryptocurencies do you plan to mine?
AN: Only Bitcoin
PB: What advantages does Ice Rock Mining provide to investors over competition?
AN: We have a lower cost base, a full in house team of engineers, programmers and marketers. We are not a cloud mining company, like most are, we are selling tokens as a profit share. That aligns our interests with token holders. We seek to gain the highest returns, and we have the advantage of much lower costs. It’s a win-win. Mining is a highly sought after sector, the capital markets are large enough for everyone.
PB: If I invest, say, US$1000 today, what kind of returns can I expect in a year’s time?
AN: Our payback right now is about 4 months, so you would get $226 worth of BTC each month. We are special in that we will also reinvest 20% of the operational profits into new ASIC miners. This increases the ‘life of mine’ and allows us to keep paying investors beyond two years. You also secure all the upside potential in increasing bitcoin price.
PB: Not all mining farms make the decision to go for an ICO. Would you provide some detail on the ICO and explain the logic behind it?
AN: It really all goes back to why we are the future of mining. We naturally have a low costing mine platform with the ability to scale. When you add the expertise in mining, programming and the like, you get a powerful combination. We chose the ICO because in a way, we’re selling ownership in the mine. The profits are split 50-50, and everyone is on the same team. We are not selling contracts in an ICO, it’s more like equity. That’s a big deal for investors, because they have full transparency through a smart contract. All the terms are laid out in our code, and when you raise capital this way, it shows investors that we truly all are one.