How many cents per kw/h do you pay?
$0.056/kWh in combination with solar, hydro-energy. Our cool climate enables us to eliminate electric costs related to cooling systems.
Is the mining already in operation?
Yes. 1,069 Asic units are currently hashing as of June 16th, 2018. We will continue growth into more efficient hashing methods such as transitions into FPGA based rigs.
Is there more info about the owner?
The project consists of a privately owned mining facility located in Northern Canada and been in operation since 2016. I have been in crypto since 2013 and mining since late 2013. I am the owner of the private mining facility as well as the operator. Until the softcap is not met, the facility is still privately owned, hence that is why I have not released my LinkedIn. I will offer tours of the running operation at the end of the ICO.
Where are the SnowBall Mining facilities located?
In Quebec, Canada.
What about your experience in mining?
Mining BTC since 2013 as a hobbyist while learning about the blockchain since.
What hashpower and earnings do we get from mining starting date: 1st June?
Hashrate: 12,184 PH/s yielding approximately 0.9687 BTC per 24h.
What is the total hashpower available (2018-06-16)?
Hashpower : 15.05 PH/s
Which cloud mining pools are used?
We hash against BW, Slushpool, Antpool, F2Pool and btcChina
What is the estimated ROI for an investor?
~9% per month or about 120% per year. This number is expected to fluctuate based on difficulty, hashpower growth, and altcoin mining efficiency.
Do you have more details about the ROI calculation?
Expected return in June : 9-10%, taking into account what has already been mined prior to this month’s spike in difficulty and the addition of new hardware to offset the rise in difficulty. As we transition towards more efficient miners, alt coin mining and FPGA based systems.
What is the strategy about reinvestment?
16% of all mining dividends will go towards reinvestment and piloting new level mining techOn a monthly basis. It’s in the whitepaper as well under “reinvestment and development”Reinvestment of current generation miners if no new hardware is available for the monthAnd up to 8% or dividends towards newer miners that can hash more if available while 8% goes towards current generation.
Who are part of the SBM team?
Why founder does not grow by itself as he already have all the facilities in place?
Answer is to leverage growth. It took years to grow to where we currently are. We can keep all the mining to myself. But if we don’t grow, eventually difficulty will catch up sooner or later. So, we need a medium where everyone gets a piece of the pie and escalate the growth process to meet and exceed monthly difficulty rises.
Hashflare is not paying anything currently because of high MEF fees, if we invest in SBM project will we face the same issues some day?
The simple answer is No. We allocated 30% of the mining rewards towards the MEF. This doesn't mean that we'll sell the 30% crypto at low market value. Our 30% MEF mining reward is calculated at a BTC market value of $7200 or ETH value of $600. We will make sure we have FIAT well in advance to make sure we can weather 4-6 months of bear market so the markets can correct.With HF, they charge you $0.35 per TH/s at every single day's market value, hence the fluctuating MEF which is now 114%. (who pay's their electric bills on a day to day basis?)
What is ' Third Party ' income?
Third party services will be offered to utilize un-used space at the facilities such as mining hardware colocation services. Some of the gains coming from this third parties will be distributed to the token holders. Third party also includes income from masternodes and decentralizing the mining process where individuals with miners can mine from their home/office towards the project to contribute to the dividends while benefiting from the SBM bounty and token appreciation.
Dragonmint 16 T miner performance and tuning:
A unit can achieve 16.5 TH/s (OEM state) - 19 TH/s (performance tuned state)
What are the facility capacities
Our facility can handle 2500 Asics capacity . We currently are using 1,069 Asics.
And when the 2500 Asics number is reached?
We replace older bitmain S9 for much better hardware - selling off older units for efficient ones. We have the option to grow. As we reach closer to that point, we will make advanced preparations for electrical designs/air displacement for expansion.
Miner equipment deployment in the facilities:
Approximately 75 Asics can be setup/deployed per day with current manpower. This is from opening up the packaging to seating of each unit within facility
What kind of wallet can I use to receive dividends?
You need an ERC20 compatible wallet such as MyEtherWallet or Metamask or Ledger Nano S or KeepKey.
What is the SBM contract address?
Are you going to pay based on balance on people ETH address auto scan or only people who provide address on your website?
Based on balances
What exchanges sbm trades after ico?
Internal first. Then we will announce external exchanges towards end of ico period.
How will we know what was mined each month? Will we have some dashboard or monthly report?
Yes. Hashrate and total mining rewards will be updated on the dashboard backend that is being developed for more real time stats. We should have this ready by end of August at the end of the ICO.
Rewards in May 2018 : 30.38 BTC, Projection in June : 28.5-29 BTC.
Does the SBM ICO require any KYC?
What is the plan if softcap is not reached?
Dividends will be distributed the 6/30, 7/31 & 8/31. If by 8/31, the softcap is not met, SBM project will continue with people who want to participate. Growth may not happen as quickly as we would like but we will leverage our current assets in whatever ways possible to grow and sustain dividends.
Currently 1 ETH = 600, dividend is around 9 - 10% of ETH like 600 SBM holder gets 0.10 ETH, what if tomorrow 600 SBM = 2 ETH ?
The dividends aren’t calculated by value of the token. The dividends are the result of the project hashrate that is bound to grow as more tokens are sold, more rigs are setup and more dividends are put towards hardware reinvestment.The 9-12% projection is based off the current hashrate. If difficulty decreases and we grow hashrate, expect higher returns.If difficulty increases, we’ll match or exceed with our hashrate growth in order to sustain and incrementally grow profits.
Dividends calculation formula:
Investor BTC share = ( SBM Token Holder Amount / Total SBM supply ) * Monthly Mined BTC.
What happens to the unsold tokens?
Currently we are mining 28 BTC a month. Any raised funds go directly towards hashrate on top of this. Each consecutive month, reinvestment will be proportional to entire community dividends.If 10% is unsold. 840,000 SBM is transferred to R&D wallet. That’s going to be 26% of all mining dividends being reinvested into more hashrate. This may not show higher returns in the first month as we start the reinvestment process. But the overall yield in 6 months/12 month period provides greater returns. Since there is faster growth, instead of slower growth.