Topic: Ice Rock Mining ICO Review, lifetime passive income from Bitcoin mining? - page 2. (Read 407 times)

I would have never invested in a cloud mining ICO, definetly not one like IRM if it wasn't for their proof of being in operation already. If you claim you are building a mining operation inside of a mountain where the energy prices are as low as can be I'd think you'd be scamming me. But if you manage to put it on video, like IRM does, there's no reason to believe they will be scamming.

And if they were I'd actually be pretty surprised. Set up a mining rig inside of a mountain, bringing in several investors for a tour around the place all just to scam people. There's easier ways to scam in this ICO landscape (just start a lending ICO) 

For now, the plan is to mine BTC only. But I'm pretty sure I've seen several comments on mining whatever is the most profitable at that time.

I'm avoiding all types of cloud mining or similar ICO's. Looking at the past project like this, all they turned into scam eventually...

It's better to invest your money into gambling bankroll or gambling ICO.

Seems they only plan to mine BTC. I would prefer if they diversify into certain percentage of GPU mining.

Lol, that's right! To be honest the first time I read about this project I chuckled aswell. And indeed, investing in a project like this isn't because you expect the technology to improve exponentially or think the project will be disrupting industries. However I do think there's a long term possibility here. It'll take a while for Bitcoin to be completely mined, and even if that happens there's plenty of other coins that can be mined profitably. As long as IRM manages to keep the conditions the way they are right now they are in a VERY good position and have an edge over pretty much everyone that is mining.

If you want to mine Bitcoin in the US, you buy a rig in a shared datacenter. If you want to mine Bitcoin in Russia, you simply buy a mountain.  

Anyways, as an investor, I do not see long term investment potential in any venture associated with mining only. There is not enough added value.

Yeah, but Envion is a huge undertaking to setup. IRM already has an operating mining rig and the location is fully ready for the expansion. So all they have to do is purchase the equipment, transport it to the location and set it up. That's a big advantage over Envion in my opinion.

I will wait the project to deliver its promises before jumping in, Envion is a similar project but they will take like 6 months after ico to setup everything.. So real mining takes time..

I have been analysing passive income ICO's lately to switch up my portfolio and earn an additional monthly/quarterly income. And Ice Rock Mining fits right into this category.

Ice Rock Mining, sounds interesting but what is it?
Ice Rock Mining is commercial bitcoin mining, inside of a mountain. That's right, a mountain. I know what you're thinking "yeah right". Well, they already have a running mining operation with 300 ASICS running as we speak. Proof? Check out their website, they have plenty of video's from the inside of the cave, including the operational mining operation.

What makes Ice Rock Mining better than it's competitors?
Ice Rock Mining has two unique features which enable them to reduce their costs substantially:

The mountain
Ice Rock’s mining facility is located in a former soviet military bunker inside of a cave. With a natural constant temperature of 12 degrees celsius, it's the perfect place to mine Bitcoin. Additionally the mine is set up with ventilation shafts that draw in rock cooled air to add to the natural cooling effect. The mine is currently operating with 300 mining rigs and so far temperature instability and overheating have not been issues at all. Total cost to cool down these rigs? $0.

Another big feature about the cave is that it is owned by Ice Rock Mining's CEO, Malik Murzashev. So this project doesn't have to deal with a mortgage, rent or other costs associated with the property.

The location
Due to location of the mountain in the countryside, the company has an agricultural subsidy for electricity which provides them with an opportunity to receive one of the best electricity prices in the world. They have a contract for a generous amount of energy for a very low price: $0.03 per KWH.

Additionally the company owns several pieces of land next to the mountain which makes expansion possible.

Why do an ICO if they already have a running operation?
The team behind Ice Rock Mining realised NOW is a big time for mining Bitcoin. The mountain has capacity for 5000 mining rigs and the team is planning on utilizing all of it's capacity. That's why 87% of the money will be invested in equipment, more specifically the Antminer S9 (Bitmain) which has proven to be the most reliable miner on the market.

What's in it for the investors?
Ice Rock Mining is offering a very generous profit share to their investors. 50% of all profit will be distributed between the investors, 20% will be re-invested into more equipment to expand the mining operation, 20% is reserved for operating costs and maintenance and 10% is for the team that keeps the mine up and running 24/7, 365 days a year.

They have added an investment calculator on the website to give investors an idea of what kind of passive monthly income they can expect. I'll give an example with an initial investment of $1000 down below.

Investment: $1000
Expected payout after 1 month: $284
Expected payout after 6 months: $344
Expected payout after 3 years: $1089

Expected ROI time: 4 months
Expected total payout over 3 years: $21,652

Above numbers are obviously very ambitious but not impossible to achieve. By re-investing 20% of their profit they will increase the mining capabilities expontentially thus increasing the payout month by month. Besides that they are very bullish on Bitcoin, Bitcoin's price increase = more profit.

ICO Details
The Rock 2 token is priced at $1.00, but you can currently buy them with a 45% bonus during the pre-sale phase of the ICO. The minimum investment is 100$ and their presale will end on the 20th of March. The main ICO will then launch and end on the 25th of May. But I am pretty confident this will sell out WAY before that as they are already at 10% of their hardcap in just a few days.

Conclusion
The cloud mining market has grown massively in the last year, and IRM will be mining Bitcoin at the lowest possible costs & thus highest profit margin. They have an excellent location & energy contract and they have proven that by having a mining rig already running right now (plenty of proof to be found on their website). If you are into bitcoin mining and are bullish on bitcoin this is a big opportunity.

Ice Rock Mining gives you the opportunity to receive a very nice passive income as long as bitcoin mining remains profitable. Personally I think their ROI calculator is a bit optimistic, but I have no doubts that this could definetly be a very profitable project. I've spent a lot of time doing due diligence on this project and I've spent hours of chatting with their team members. Which was very refreshing to be honest, I haven't seen such a transparent ICO in ages and they are all able to answer every single question with excellence. Definetly swing by them in their Telegram Channel.

Read more about IRM here: Ice Rock Mining website

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