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Mining, in the real sense of the word, has always been a below-ground activity. Now, cryptocurrency mining is also heading that way as Ice Rock Mining are looking to set up their super crypto mine in an abandoned Soviet bunker.
Utilizing the benefits of being based underground in a Soviet bunker in Kazakhstan, the mining company will be looking to make mining as cheap as possible, and in turn, they will be allowing people to invest in their super mine, or be a part of the operation.
The benefits of heading underground
Ice Rock Mining believe they have managed to turn some of the bigger expenses in mining into negligible factors, which of course means higher margins which they are looking to share with investors and other miners.
They have procured the bunker based in Kazakhstan, meaning that there is no cost in rent, they are also not spending anything on cooling the mining rigs as the underground area has its own ecosystem that remains around 12 degrees all year round.
Additionally, Ice Rock Mining have very cheap electricity thanks to being located near to a hydroelectric power station; they claim it costs them just $0.03 per/kWh of power, one of the biggest expenses in mining.
Ice Rock aim to have over 4,600 ASIC rigs in the 1,200 square metres of subterranean tunnels in order to mine a selection of different digital currencies – such as Bitcoin, Ethereum, Dash and Litecoin.
The idea is that Ice Rock will open an ICO which will allow users to get involved as either minors, or as investors directly into the ICO, with their ROCK tokens.
Miners will be able to purchases customisable mining packages in order to benefit from the aforementioned benefits that come from setting up a mine in such conditions. The idea being that through a cloud mining-style operation mining investors will be able to play a part in mining what they want, and as much as they want, at costs that afford good margins.
Alternatively, there are opportunities for investors to join by simply buying into the ROCK token and hold onto them until the buyback period starts.
Smart contract Mining
Ice Rock believes it can supercharge cloud mining through utilizing a mining setup that hands over supposedly some of the biggest margins with its low costs, but also with the use of the Ethereum Smart contract and the ERC-20 token.
Users either become direct investors in the mining operation by purchasing their ROCK tokens, or they fund their own mining operation with the same said tokens. This in turn sees dividends and growth paid out along the Ethereum Blockchain as a ROCK token.