UPDATE 09/05/2014We made a promise to our unitholders to start the deployment of the SCRYPT-X mine mid-May.
We are pleased to announce that, only 48 hours after the IPO, the SCRYPT-X mine is already
hashing at 2 GH/s or 1% of the LTC network.
This means our unitholders can expect their
first dividend to be paid as early as
next Friday the 16th of May.
You can find a screenshot here:
http://www.cryptx.com/scrypt-x-reaches-1-of-ltc-network-only-48-hours-after-ipo/CryptX is pleased to announce their new project
SCRYPT-X.
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SCRYPT-X is a
hosted scrypt mining project with an initial maximum capacity of 10,000,000 KH/s or
10,000 MH/s of hashing power.
The initial core hardware for the mine will be our custom SCRYPT-X1, based on 28 nm A2 chip of Innosilicon. This device has outstanding specifications and will be one of the fastest available machines in terms of hashing power currently on the market.
SCRYPT-X’s hashing power will represent a percentage of the total hashing power of the entire altcoin network. Currently the network capacity of the biggest scrypt based currencies, Litecoin and Dogecoin, is respectively 207 GH/s and 48 GH/s. SCRYPT-X initial hardware would represent 4,83% of the Litecoin network or 20,8% of the Dogecoin network.
This percentage will decrease whenever the hashing power of the network increases. To mitigate this issue, CryptX will reinvest a percentage of the mine’s net revenue in additional hashing power. This means that as SCRYPT-X continues to grow, each share will, in turn, represent more hashing power. A percentage of the net revenue will be paid to shareholders through a
weekly dividend.
Deployment of the first 10,000 MH/s of SCRYPT-X1 miners will start mid-May, 2014. We are very confident about this timing because the miners prove to work and are currently in production.
CryptX will use a custom made scrypt miner, the
Scrypt-X1, with a capacity of 85 Mh/s. This miner is based on the 28nm A2 chip of Innosilicon.
100,000 units or 100 KH/s per unit, will be offered in the IPO on havelockinvestments.com at a fixed initial price of
0.038 BTC/unit between 07 May 2014 and 15 May 2014. The shares will be offered in incremental batches of 10,000 shares. Each batch will be offered at an increased rate of 0.0015 BTC. This means the first batch of 10,000 shares will be sold at 0.038 BTC, the second batch at 0.0395 BTC, the third at 0.0410 BTC and so on.
1 1 – 10,000 0.0380 BTC/Unit
2 10,001 – 20,000 0.0395 BTC/Unit
3 20,001 – 30,000 0.0410 BTC/Unit
4 30,001 – 40,000 0.0425 BTC/Unit
5 40,001 – 50,000 0.0440 BTC/Unit
6 50,001 – 60,000 0.0455 BTC/Unit
7 60,001 – 70,000 0.0470 BTC/Unit
8 70,001 – 80,000 0.0485 BTC/Unit
9 80,001 – 90,000 0.0500 BTC/Unit
10 90,001 – 100,000 0.0515 BTC/Unit
More info can be found here:
https://www.havelockinvestments.com/fund.php?symbol=SCRYPTThe complete prospectus can be found here:
https://www.havelockinvestments.com/reports.php(currently unavailable)
Prospectus on google docs:
https://docs.google.com/file/d/0BzI5bgsiFJAiZVRaMXowZFFlQVk/edit
