Re: [ActiveMining] The Official Active Mining Discussing Thread
ActiveMining F.A.Q.
What is ActiveMining?
ActiveMining is the natural evolution of two previous projects: Active Mining Cooperative (creating a bitcoin mining farm) and Virtual Mining Corporation (selling bitcoin mining hardware), that are now unified under the roof of ActiveMining. Both original contract proposals were quite complex, so we decided to rip them apart and start from scratch, using the same tried and tested model of Asicminer. This allows for a much needed flexibility that is key in the bitcoin world.
What happens to the Active Mining Cooperative (AMC) now?
Existing AMC (BitFunder) and AMC-PT (BTC-TC) shareholders get the benefit of being able to tender their shares for ActiveMining shares, getting all the benefits of new hardware sales and the shareholder's protection program of BTC0.0025/share, on top of their current mining profits. After existing AMC ask walls are sold (around 4,000,000 shares) and 90% of existing AMC shareholders tender their shares to ActiveMining, AMC starts on a liquidation process, to be fully absorbed into ActiveMining.
How can I tender my existing AMC or AMC-PT shares for ActiveMining shares?
Details on this process will be available shortly.
Where can I buy ActiveMining shares?
Currently, there are two ways for that:
What is the Virtual Mining Corporation (VMC)?
VMC is a subsidiary of ActiveMining that is in charge of building hardware. Think of it as a department of ActiveMining, with all its profits funneled into ActiveMining shareholders.
So, where can I see the current ActiveMining hashrate and mining profits?
Currently ActiveMining mines on BTC Guild at around 430GH/s, as User 211435 and as Team AMC. Accumulated mining profits are stored in BTC address 1DJpsvnM7xTnQbWEhLYyCyfxQyxwupEzCa. Here's a graph of that.
What are the current plans for chip development?
ActiveMining is in the process of gathering necessary funds for paying NRE costs on its 28nm chip. We hope these funds to be gathered soon, so that chip production can start as soon as possible. Estimated dates after NRE payment are:
What happens if there aren't enough funds for the 28nm NRE?
There are several solutions for that. The current and incoming mining hardware should be able to cover that risk and there is still the option of going 45nm where the NRE cost is about half of the 28nm process.
Can you please provide some documents as proof of the existing claims?
Engineering Firm quote for the machines that will host the incoming Avalon chips: http://axs.net/AMC/SB-Prototype-Quote.jpg
eASIC chip NDA: http://axs.net/AMC/eAsic-NDA0001.jpg and http://axs.net/AMC/eAsic-NDA0002.jpg
What is ActiveMining?
ActiveMining is the natural evolution of two previous projects: Active Mining Cooperative (creating a bitcoin mining farm) and Virtual Mining Corporation (selling bitcoin mining hardware), that are now unified under the roof of ActiveMining. Both original contract proposals were quite complex, so we decided to rip them apart and start from scratch, using the same tried and tested model of Asicminer. This allows for a much needed flexibility that is key in the bitcoin world.
What happens to the Active Mining Cooperative (AMC) now?
Existing AMC (BitFunder) and AMC-PT (BTC-TC) shareholders get the benefit of being able to tender their shares for ActiveMining shares, getting all the benefits of new hardware sales and the shareholder's protection program of BTC0.0025/share, on top of their current mining profits. After existing AMC ask walls are sold (around 4,000,000 shares) and 90% of existing AMC shareholders tender their shares to ActiveMining, AMC starts on a liquidation process, to be fully absorbed into ActiveMining.
How can I tender my existing AMC or AMC-PT shares for ActiveMining shares?
Details on this process will be available shortly.
Where can I buy ActiveMining shares?
Currently, there are two ways for that:
- You can buy ActiveMining shares directly from https://bitfunder.com/asset/ActiveMining (BitFunder). We are also working on getting ActiveMining approved on BTC-TC;
- You can buy existing AMC shares (https://bitfunder.com/asset/AMC) or (https://btct.co/security/AMC-PT), and then tender them for ActiveMining shares once the details are published.
What is the Virtual Mining Corporation (VMC)?
VMC is a subsidiary of ActiveMining that is in charge of building hardware. Think of it as a department of ActiveMining, with all its profits funneled into ActiveMining shareholders.
So, where can I see the current ActiveMining hashrate and mining profits?
Currently ActiveMining mines on BTC Guild at around 430GH/s, as User 211435 and as Team AMC. Accumulated mining profits are stored in BTC address 1DJpsvnM7xTnQbWEhLYyCyfxQyxwupEzCa. Here's a graph of that.
What are the current plans for chip development?
ActiveMining is in the process of gathering necessary funds for paying NRE costs on its 28nm chip. We hope these funds to be gathered soon, so that chip production can start as soon as possible. Estimated dates after NRE payment are:
- Chip samples delivered in 9 weeks;
- Low-volume chip production starting in 12 weeks, using an e-beam process;
- Normal volume chip production starting in 16-18 weeks.
What happens if there aren't enough funds for the 28nm NRE?
There are several solutions for that. The current and incoming mining hardware should be able to cover that risk and there is still the option of going 45nm where the NRE cost is about half of the 28nm process.
Can you please provide some documents as proof of the existing claims?
Engineering Firm quote for the machines that will host the incoming Avalon chips: http://axs.net/AMC/SB-Prototype-Quote.jpg
eASIC chip NDA: http://axs.net/AMC/eAsic-NDA0001.jpg and http://axs.net/AMC/eAsic-NDA0002.jpg
