Topic: [ActiveMining] The Official Active Mining Discussion Thread - page 338. (Read 479475 times)

ActiveMining F.A.Q.

What is ActiveMining?
ActiveMining is the natural evolution of two previous projects: Active Mining Cooperative (creating a bitcoin mining farm) and Virtual Mining Corporation (selling bitcoin mining hardware), that are now unified under the roof of ActiveMining. Both original contract proposals were quite complex, so we decided to rip them apart and start from scratch, using the same tried and tested model of Asicminer. This allows for a much needed flexibility that is key in the bitcoin world.

What happens to the Active Mining Cooperative (AMC) now?
Existing AMC (BitFunder) and AMC-PT (BTC-TC) shareholders get the benefit of being able to tender their shares for ActiveMining shares, getting all the benefits of new hardware sales and the shareholder's protection program of BTC0.0025/share, on top of their current mining profits. After existing AMC ask walls are sold (around 4,000,000 shares) and 90% of existing AMC shareholders tender their shares to ActiveMining, AMC starts on a liquidation process, to be fully absorbed into ActiveMining.

How can I tender my existing AMC or AMC-PT shares for ActiveMining shares?
Details on this process will be available shortly.

Where can I buy ActiveMining shares?
Currently, there are two ways for that:

• You can buy ActiveMining shares directly from https://bitfunder.com/asset/ActiveMining (BitFunder). We are also working on getting ActiveMining approved on BTC-TC;
• You can buy existing AMC shares (https://bitfunder.com/asset/AMC) or (https://btct.co/security/AMC-PT), and then tender them for ActiveMining shares once the details are published.

What is the Virtual Mining Corporation (VMC)?
VMC is a subsidiary of ActiveMining that is in charge of building hardware. Think of it as a department of ActiveMining, with all its profits funneled into ActiveMining shareholders.

So, where can I see the current ActiveMining hashrate and mining profits?
Currently ActiveMining mines on BTC Guild at around 430GH/s, as User 211435 and as Team AMC. Accumulated mining profits are stored in BTC address 1DJpsvnM7xTnQbWEhLYyCyfxQyxwupEzCa. Here's a graph of that.

What are the current plans for chip development?
ActiveMining is in the process of gathering necessary funds for paying NRE costs on its 28nm chip. We hope these funds to be gathered soon, so that chip production can start as soon as possible. Estimated dates after NRE payment are:

• Chip samples delivered in 9 weeks;
• Low-volume chip production starting in 12 weeks, using an e-beam process;
• Normal volume chip production starting in 16-18 weeks.

What happens if there aren't enough funds for the 28nm NRE?
There are several solutions for that. The current and incoming mining hardware should be able to cover that risk and there is still the option of going 45nm where the NRE cost is about half of the 28nm process.

Can you please provide some documents as proof of the existing claims?
Engineering Firm quote for the machines that will host the incoming Avalon chips: http://axs.net/AMC/SB-Prototype-Quote.jpg
eASIC chip NDA: http://axs.net/AMC/eAsic-NDA0001.jpg and http://axs.net/AMC/eAsic-NDA0002.jpg

Introduction
ActiveMining is a virtual identity totally owned by the Active Mining Corporation (Belize) that represents both itself and its profits. ActiveMining's business includes cryptocoin mining and sales of self-built ASIC devices through its wholly owned subsidiary Virtual Mining Corporation (VMC).

Currently, it is expected for interested ActiveMining's public investors to hold 10,000,000 ActiveMining shares (40% of the profits), while Active Mining Corporation owner(s) shall hold 15,000,000 ActiveMining shares (60% of the profits), for a total of 25,000,000 ActiveMining virtual shares that represent 100% of the global profits of ActiveMining.

The issuing of more ActiveMining shares can be allowed in the future, as a last resort measure and after a shareholder's vote, provided there is strong economic justification, mainly on the basis of covering emergent capital needs. Existing shareholders also get the first choice for buying new shares before they are sold on the open market. The volume of new shares shall be kept at a minimum as much as possible and the pricing of them should be such that the total value of all ActiveMining's assets (tangible and intangible) per ActiveMining share does not diminish, protecting shareholders as much as possible from future dilution of value.

Public investor's protection plan
The first 10,000,000 ActiveMining shares have the privilege of getting all profits until BTC0.0025/share is paid, starting from the day when dividends begin to be paid.

How to buy shares
ActiveMining shares will be sold on BitFunder and BTCT.CO and any other exchange, following asset approval or tendered by AMC shares. Existing Active Mining Cooperative (AMC) shareholders will be entitled to tender their shares for ActiveMining shares, on a 1:1 basis and are also covered in the public investor's protection plan.

Dividend payment
The global ActiveMining's income, including mining income, hardware sales via bitcoins, other cryptocoins and fiat transferred to bitcoins, will be paid to ActiveMining shareholders proportionally, when all manufacturing, maintenance, labor costs, R&D, growth and miscellaneous expenses are deducted. The first BTC0.0025/share dividends will only be paid to the first 10,000,000 ActiveMining shares, providing public investors a priority in getting back 100% return of their investment.

Our chips in development
Generation 1: Fast-Hash. 28nm. Each chip's rated frequency is 800 MHz at 1.15V. It translates to 16,000 MH/s because it does 20 hashes per cycle. Chip requires proper handling of heat and power supply. It is expected the chip can be overclocked to 1000 MHz @ 20,000 MH/s.

"Our existing hardware assets from AMC liquidation

• 6 Avalon miners, currently running on BTC Guild under "Team AMC" for around 430 GH/s;
• An order of Avalon chips from steamboat's batch #1, for 68 Klondike-16 boards, rated at 68*16*282 = 307 GH/s;
• An order of 20,000 Avalon chips (end of May and beginging of June orders), for a combined hashrate of 20,000*282 = 5,640 GH/s.

In total, around 6,377 GH/s, expected to be fully operational in the middle of August.