Könnte also gut sein dass die ab Januar wieder bei SitV im Boot sitzen......
Dear Customers
Going forward we will send regular newsletters with a 6-8-week intervals to update you on our progress.
As you all know the last months has been a tough bear market in the cryptomining business, due to nearly 70% fall in the Bitcoin price since December. Consequently, many of the largest crypto mines in the world has been forced to suspend their Bitcoin-operation. Their break-even point does not make the mining profitable at today’s Bitcoin prices by using regular mining equipment. Many of their cloud mining customers have therefore not received their mining income, or has lost their investments. Much of this happened because they rushed to market when the Bitcoin price was rallying in Q4 2017, often by paying way too much for regular mining equipment.
In Cryptotech we took another approach. Rather than focusing on offering cloud mining contracts with regular mining equipment, we decided to invest in developing a new revolutionary chip. In this way, we will be able to mine profitably on a regular basis even at low Bitcoin prices. If we succeed, we will be able to offer our client the best mining contracts available and avoid the regular mining stops that has happened with our competitors when the Bitcoin price falls. The key success factor for our business case, is therefore to succeed with the chip development.
However, this has been more time consuming than expected. Since the initial technical team informed me that they were not able to fulfill their obligations and deliver the chip they promised, I had to do major changes both in the team and the development approach earlier this spring. The results so far have been very successful. Last week the first BTC blocks was mined based on the newly developed hashcore in the prototype setup. It is still a lot of work left to complete, but based on the latest chip performance data I expect my new team to be able to deliver hardware with the lowest break-even point of any miner on the market !
Due to these necessary changes, we have lost several months that will postpone the start of the mining. I now expect the mining activity to start in early January 2019, and not in August as first expected.
I am sorry about this delay, and to compensate I have decided to increase the hashrate for all our customers with same percentage wise amount of increase in mining difficulty for the period of August 31 th to December. August 1st the global hashrate was 50.000 PH/s, so if for instance global hashrate is 75.000 PH/s when the mining starts, that is an increase of 50%, then our customers will get the same 50% percent increase in hashrate free of charge. This means that if a customer for instance has purchased 100 TH/s mining contract, they will now, without any extra charges, get a 150 TH/s contract if the mining difficulty increase by 50% from August 31st and until end of December 2018. It will all be based on Global hashrate increase between Aug 31st 2018 and Dec. 31 2018.
I will follow you up with more details later about the practicalities and the chip development in our next newsletter scheduled for September 30th,
In the meantime, I thank you for your patience and wish you all a nice summer.
Best regards,
Erik Solberg
CEO
Cryptotechn |
Thread abonnieren
