INTRODUCTION
Mining is the process of adding transaction records to Bitcoin's public ledger of past transactions. This ledger of past transactions is called the blockchain as it is a chain of blocks. The blockchain serves to confirm transactions to the rest of the network as having taken place. Bitcoin nodes use the blockchain to distinguish legitimate Bitcoin transactions from attempts to re-spend coins that have already been spent elsewhere. Mining is intentionally designed to be resource-intensive and difficult so that the number of blocks found each day by miners remains steady
BatMine is beyond just another crypto mine. It is Blockchain Applied Technology (BAT) at its best, crafted to an art by skilled Cyber artisans and Blockchain professionals. We are creating the most advanced, profitable, fastest and sustainable crypto currency mine that ever existed. A Mine which you can join and become a member of our BatMine community. We will bring this amazing opportunity to life together, and build the BatMine for visionaries – our Community
We are building BatMine in Europe, one of the safest and crypto friendliest jurisdictions in the world.
BatMine is a singular creation based on new generation, high capacity BTC, LTC, ETH and other currencies’ mining equipment and mostly GREEN energy.
BatMine offers the following services:
• Cryptocurrency mining,
• MaaS (Mining as a Service),
• Custodial Services
• sales of Mining hardware our in-house developed miners inclusive.
We strive for full transparency and therefore we disclose our full Company structure.
BatMine is a project from:
Blockchain Applied Technology Ltd
Mara Gidik street N21, et,1
8000 Burgas
Bulgaria
And it’s 100% subsidiary company Blockchain Applied Technology Ltd., Rybna 24, 110 00 Praha 1, Czech Republic, that will be established within one week after the ICO ends.
We have chosen Bulgaria and the Czech Republic for obvious reasons:
The first is a stable European legal jurisdiction with crypto legislation that allows us to legally operate the mining facilities, and repatriate profits derived from profitable mining operations and hardware sales worldwide.
The flat tax rate in Bulgaria is 10%, the lowest effective rate in Europe.
Labor costs are low, and quality team members are readily available.
They have a stable economy, low-cost electricity rates through strategic Partnerships with local energy providers, and a legal structure that allows us to pay profit sharing to investors. The Czech Republic has a moderate climate leading to less cost for cooling and heating the facilities, moderate to low labor costs, and is the sixth safest country in the world. We plan to build our first mine in the Czech Republic. For a mine it is very important that services like Internet and electricity are reliable and are provided continuously. The Czech Republic has heavily invested in building a reliable backbone for both networks, so that BatMine and all stakeholders can be ensured of a fully functional mining facility. All activities under this ICO, including but not limited to token management, marketing, operations, technical development, management, hardware sales and mining operations, will be executed in these countries. Profit sharing will be distributed worldwide from Bulgaria over any and all profits made by any of the current and future companies in the BAT Group.
PROFIT SHARING
The BatMine revenue distribution model is simple and straightforward.
BatMine will generate revenues from:
- Mining of crypto currency,
- Mining-as-a-Service,
- Custodial Services,
- Hardware sales.
The profit (income in mined cryptocurrency + received fiat/crypto -/- costs and tax reserve) is distributed as follows:
30% is distributed to our Silent Partners that invested in the project, for a period of 10 years (until March 2029),
33% is used to replace hardware,
20% is used for further development of our own miners.
7% remains in the Company and will be used for other Company cost and expansion.
In case at times less hardware replacement or R&D costs are needed than the dedicated percentages of the distributable revenues, in this case gains are shared 50-50 between the Silent Partners and BatMine.
All revenues are distributed monthly on the 15th (or the first working day after) of the month following the previous calendar month. Revenues are distributed in the currency in which they are received from the market. Hence BTC revenue is paid in BTC, ETH in ETH, and EUR in EUR. If it will be possible we will develop smart contracts for automatic distribution.
There are several ways to mine crypto currencies; the most profitable are industrial mining followed by cloud mining.
Right now, there are several ways to get involved in crypto mining:
Home Mining,
Cloud Mining,
Industrial Mining Farm.
Home mining is currently not profitable, mostly due to high electricity cost.
Cloud Mining is suitable for mostly private individual mining, while Industrial Mining functions as corporate business facility. These methods have their advantages and limitations.
Cloud Mining is often not transparent:
No control over the equipment and its maintenance;
No contact to the equipment suppliers, no overview of pricing and equipment models;
No knowledge of the real mining capacity;
No overview of spending and costs;
Often the location of the Mining Facility is anonymous.
Industrial Mining Farm is considered the most profitable and lucrative method to mine crypto currency via ASICs mining hardware although other options are developing. There is a global shift toward industrial – scale data center mining by mining groups, mining equipment manufacturers, cloud mining providers and investors. Only in the past year alone the global power for the industrial mining machinery has grown 147 times.
An Industrial scale mining farm like BatMine is expensive to set up and manage, and due to the high costs inaccessible to most of the private miners and even companies. The solution is to build crowdfunded Industrial Scale Mining Farm.
Industrial Mining is expensive and requires a higher level of expertise and resources.
Significant investments in equipment and infrastructure are required for the profitable mining.
High volumes of electricity are used. Even though electricity is bought wholesale, the amounts are still high.
IT Mining experts and other specialists are needed to work full time on the Mining Farm.
In the last 12 months several ICOs for crypto mining operations have been issued. Some are scams (like Snowball Mining) or appear to provide conflicting information (like Veritas). Miner One pays over 7 cents of electricity per KwH compared to 4 cents that we will pay. That was one of the reasons why they had to stop mining for now. Keep in mind that Miner One pays taxes in Sweden, which are relatively high (22%) compared to taxes in Bulgaria (10%). IceRock Mining and Ambit Mining pay 3 and 4,5 cents per KwH respectively, but they use equipment with 16 Th/s, compared to our 55 Th/s. The more reason we are resolute that those factors matched with a safe legislative jurisdiction make us more competitive. And best of all, we contractually commit to profit sharing in a secure way to investors.
For further inquiry, kindly visit the following links:
Website: www.batmine.io
Telegram: https://t.me/batmineICO
Twitter: https://twitter.com/batmineico
Medium: https://medium.com/batmine
Facebook: https://www.facebook.com/BatMineICO/
Bounty0x username: johnomonday53