As I said before, Envion are not the first one, producing Mobile Mining Units - Bitfury are long ago in the business.
Second, the hardware - they are planing to use Antminer 9S, the most popular ASIC miner, but more than year old model. New miner producing company will flood the market with new 16 Terahashes miner in March 2018, which means Bitmain most likely will be ready with Antminer 11S around that time. That means Envion will spend their money for old equipment.
They were very optimistic they can beat Bancor’s ICO, but it is not so easy...
One little red flag - why you need to send your money BEFORE the KYC process. The rest of the world is doing the opposite
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Yes I totally get that we assume that they use the Antminer 9S model. If in the whitepaper that is where they based on their calculations. However, they also state they use an amount of money for research and development. I guess using a newer version of Antminers is considered to fall under development, right?

I think the 150 million is a big cap to achieve and way to much and risky. But that is a gamble we all have to take. If they are making it work and can build a big amount of units and become the leading mining company in Europe. I think all the token holders should be proud to be part of it.

In the end we will see what happens.