UPDATE 09/09/2013CRYPTX BUYS DATACENTERCryptX is pleased to announce the purchase of its own datacenter.
The datacenter has an initial power capacity to host 300 TH/s of Bitcoin mining equipment. The capacity can be expanded if necessary. The electricity costs can be kept at a minimum due to our on-site solar plant of 350,000 Watt. The first deployment of 20 TH/s at the end of September has a monthly total cost, including electricity, maintenance and hosting, of maximum 5,000$.
The purchase of the datacenter is the second milestone in the development of the PETA-MINE. This enables CryptX to run the mine very cost efficient.
UPDATE 08/09/2013PETA-MINE revenue forecast with our September deployment:
https://docs.google.com/spreadsheet/ccc?key=0AjI5bgsiFJAidDRWR3RBYXdtR0JEb3JqdmlxYVpmTmc#gid=0*Please note that this scenario is just an example and does not represent the future or actual profits. These figures do not include the electricity, hosting and maintenance costs.
UPDATE 05/09/2013CRYPTX EXPANDS BITFURY CHIP DEAL
CryptX is pleased to announce it has secured a new purchase contract with Punin Design.
The purchase agreement has expanded to the delivery of
18,000 Bitfury chips (about 54 TH/s). Even more important is the early
delivery date of 20 September 2013 for all chips. We will pick up the chips in Finland in person. This date will give CryptX an important lead start.
The agreement is a first milestone in the development of the PETA-MINE. The chips will be used in a first stage deployment of 20 TH/s.
UPDATE 31/08/2013CryptX is pleased to announce the deployment of
20 TerraHash as early as
end September (BitFury chips). The net mining revenue of this 20 TH/s will be divided over the shareholders until their total investment is recovered.
CryptX will also limit the sale of shares to a maximum of 10,000. This means that no more than 10,000 shares will be sold and mining revenue will be divided over those shares. Shares will be sold in batches of 2,000 shares each, starting at 0.65BTC. Price with each new batch will increase with 0.01BTC.
As stated in the initial shareholder agreement, for each share sold, 10 GH/s of hashpower, based on CoinTerra systems, will also be deployed in December, this equals to
an additional 100 TerraHash by December for 10,000 shares.
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CryptX is proud to announce the Bitcoin mining project PETA-MINE (
https://btct.co/security/PETA-MINE )
The PETA-MINE is a hosted mining project with a capacity of 1,000,000 GH/s or 1 PH/s of hashing power.
The core hardware for the mine will be the 28nm chip from Cointerra.
CryptX will offer 100,000 non-dilutable PETA-MINE shares at IPO.
Detailed info can also be found on:
www.cryptx.comTHE ASSETCryptX offers an asset (its PETA-MINE) for shares in the profit of the PETA-MINE project. CryptX will offer 83,333 out of 100,000 non-dilutable PETA-MINE shares at IPO. Each share represents 1/100,000 of the total hash power of the PETA-MINE, and shareholders will recieve a weekly dividend payment every Friday. The PETA-MINE will deploy with a capacity of 1,000,000 GH/s where
one share represents 10 GH/s in hashing power.
The company will issue shares in two batches:
1. The first batch will consist of 50,000 shares. CryptX will sell these shares through BTC-TC at a fixed price of 0.65 BTC per share. The sale of the first batch will close when all shares are sold.
2. The second batch will consist of the remaining 33,333 shares and will sell at a fixed price of 0.7 BTC per share. The sale of the second batch will close when all shares are sold.
For every share sold, CryptX will invest in an additional 20% of hashpower. All mining revenue from this additional 20% will go to public shareholders until the initial investment of 0.65BTC/share is recovered in dividends.THE REVENUEDividends will automatically appear in shareholders’ Bitcoin wallets every Friday around 15:00 GMT. Dividends will consist of 65% of PETA-MINE net revenue for the week. Net revenue is defined as the total sum of Bitcoins mined, transaction fees received and net revenue from hardware sold, minus electricity, hosting, and mine maintenance costs.
Every week, CryptX will reserve for reinvestment purposes a percentage of earned Bitcoins equal to 35% of net revenue. These investments will allow CryptX to produce and deploy additional hardware. Time of deployment for this additional hardware will be in the best interest of shareholders.
The 65/35 percentages are chosen after careful consideration of the current and the future market. The percentages can change if shareholders vote to change it. Such action will only occur if the state of the Bitcoin mining space demands it.
You can find a revenue forecast here*:
https://docs.google.com/spreadsheet/ccc?key=0AjI5bgsiFJAidHNCdDBqOTV2Zmt6ZW9PbWdvZDV1M3c#gid=0*Please note that this scenario is just an example and does not represent the future or actual profits. These figures do not include the electricity, hosting and maintenance costs.
START DATEDeployment of the PETA-MINE will start mid December, 2013.
PARTNERSHIPSCryptX has a contract with
Cointerra to purchase 250 TH/s up to 1,000 TH/s of that company’s 28nm chips. The chips will come from the first production batch, which will be tested on site and shipped directly to our PCB/board manufacturer in Europe. This arrangement lets us keep the time between chip production and boards deployment to an absolute minimum.
Thanks to our contract with
Burnin Electronics, a PCB/board will be developed using Cointerra’s board reference design before the chips arrive in Europe. This way production can start immediately upon arrival of the chips.
FAQwww.cryptx.com/faq/Detailed information can be found on
www.cryptx.comUPDATE 27/08/2013We received some valuable feedback and updated our IPO details with the following:
For every share sold, CryptX will invest in an additional 20% of hashpower. All mining revenue from this additional 20% will go to public shareholders until the initial investment of 0.65BTC/share is recovered in dividends.
