IceDrill

File:IceDrill.jpg

DigiMex, a British Virgin Islands company (BVI Company Number: 1784369), is deploying a large-scale Bitcoin mine named IceDrill. The company is hereby releasing an asset for shares in the profits of the IceDrill mine.

Development

To build the IceDrill mine, DigiMex has a special relationship with HashFast to acquire significant volumes of its new 400 Gh/s ASIC chips on a continual basis.

The IceDrill mine, at launch, will be running with 250-363 Terahashes (363,000 Gigahashes) of power. This asset comprises +60% of the mine’s ongoing profits (meaning roughly 100% of 150-217 TH power). However, this asset is NOT tied to a specific hashrate. Rather, it is tied to a specific percentage of IceDrill profits, meaning that as the mine grows in hash power, so too do the profits earned by the shares. While one share will be worth roughly 10 Mhash of mining power upon launch, it will be worth more hash power over time as the mine grows.

In order to grow, 75% of the profit from each shares share will be paid out to the investor, and the remaining 25% will be reinvested in additional mining capacity on a continual basis. Thus, the mine will grow substantially over time to maintain the most efficient market share.

The IceDrill mine will launch with its initial 250-363 Th/s capacity in the last quarter of 2013, likely in November.

Purpose of the asset

Money raised through this offering will be combined with privately-raised capital (already secured) for the purpose of purchasing specialized ASIC mining equipment and establishing a secure, climate-controlled mine facility in Europe (the exact location is already selected but is confidential for security reasons).

See also

• ASIC mining

References

IceDrill topic on Bitcointalk.org

IceDrill IPO