Ambit Mining ICO Review: What You Need to Know
With the rise in popularity of cryptocurrencies over the last couple years, many startups have also cashed in on the cryptocurrency mania by raising investment funds through “Initial Coin Offerings” or ICO. But unlike most ICO projects that can be found online today, Ambit Mining has already a preexisting operation. Its operation currently boasts on a 1 Megawatt (MW) mining infrastructure located in Tbilisi Free Economic Zone (FEZ). Its 5 MW hosting facility has also proven to be successful after achieving an ROI of 100% within a span of 5 months. Since the company began operations, it has achieved more than $1.3 million in profits for its investors.
Building on the success of its projects, Ambit Mining is currently looking to scale up its 1 MW operation to a 20 MW and invites prospective investors to join in its cryptocurrency mining operation through its ICO. By participating in its ICO, Ambit mining also offers prospective investors the opportunity to earn a steady stream of income from the company’s mining and hosting operations.
Ambit Mining ICO Value Proposition
One of the major hurdles for any large scale cryptocurrency mining operation is the cost of electricity. Cryptocurrency mining is extremely energy intensive and requires huge amount of electricity to power all the mining rigs in a large scale operation. As such, the lower the cost of electricity, the more profitable a mining operation would be. In the case of Ambit Mining, its operation is powered by renewable green energy derived from hydroelectricity dams which are generally lower than electricity generated by other traditional means. According to Ambit Mining’s data sheet, it is only paying 5 cents per Kwh for its electricity.
Another key factor for the success of a cryptocurrency mining operation is its location. Cryptocurrencies and its related ancillary services are a new phenomenon in the global economy. Most countries around the world lack the regulatory framework that seeks to promote the growth of the cryptocurrency industry. At times, existing regulations are not equipped to encourage the growth of a company dealing with cryptocurrency services. However in the case of Ambit Mining, it is based in Georgia, a country where the local laws are conducive for the growth of blockchain technologies. Apart from access to cheap electricity, Ambit Mining profits are tax free as its mining farm is located in a Free Trade Zone.
As part of Ambit mining road map, the company also intends to partner with major companies that specialize in the manufacture of cryptocurrency mining hardware in order to maximize its current operational potential as well as to reduce cost and maximize profits.
Under the Ambit Mining’s ICO proposition, 104 million Ambit Mining Tokens (AMBT) will be created. These tokens will be used to represent a percentage share of the profits which the token holders will be entitled to Ambit Mining’s operations. The dividends will be paid out on a bi weekly basis hence ensuring that the investors will start seeing returns almost immediately.
From the total of 104 AMBT created, the company will offer 88 million AMBT to the general public as part of the ICO at a price of $0.50. There will be 4 distinct sale periods from which certain bonuses will also be offered to the investors.
As for the rest of the AMBT tokens, they will be distributed in the following manner:
- 3% as company reserve
- 9% to core team and project advisors
- 3% for the creation of a bounty
Ambit Mining ICO Team
The makeup of the Ambit Mining Team comprises of the following key personals:
Beka Vashakidze – Founder & CEO
- A leading blockchain pioneer and entrepreneur in Georgia.
- CEO of BFgroup holding Co (engaged in cryptocurrency mining)
- Founder of the Youtube Channel: “CryptoCurrency Network” – CCN
Giorgi Inashvili – Chief Operational Officer
- 6 years experience in sales, logistics and marketing on a multinational scale.
- Management of an annual marketing budget of more than 1 million pounds
David Kochiashvili – Lead Software Developer
- More than 20 years experiences in software development
- Major achievements include being the Senior Developer of TBC Bank, Constanta bank and Geocell.
- Key Expertises: Big Data, Blockchain, software for Banking and Telecommunication.
Aleksey Kuksin – Software Architect
- More than 2 decades experiences in programming and software engineering
- Former Manager of Big Data Engineering at Nomis Solutions.
- Former Big Data Engineer at Motorola.
- Former Software architect at Nokia Siemens Networks.
George Khmaladze – Chief Financial Officer
- Chairman of the board of directors for the Georgian Association of Independent Accountants and Auditors.
- Director of Certification, Expertise Institute for Valuation of Assets of Georgia;
- Managing Partner,Director, and Head of Auditing and Consultancy Service for MGI Georgia
Ambit Mining ICO Strengths and Opportunities
To surmise, the following below are the key strengths of Ambit Mining ICO:
- Being located in Tbilisi Free Economic Zone meant that the company’s revenue is not taxed
- Highly transparent company which allows investors a say in how the company is managed
- Major partnership with leading hardware manufacturer provide access to cutting edge technologies
- Mining activities is conducted using renewable energy
- Project is led by a competent team
- The project benefit from low electricity cost at $0.05 per Kwh
- Company already has an existing operation
Ambit Mining ICO Weaknesses and Threats
One of the major weaknesses of Ambit Mining is the fact that the company is still new. While its current projects have proven successful, there is no guarantee that its expansion will prove equally successful.
Ambit Mining ICO Review: The Verdict
Ambit mining represents the next generation of the cryptocurrency industry. The company is able to unite its mining operations and hosting services under one roof providing the company with a diversified stream of revenue. Despite the fact the company is relatively new, we cannot deny the fact that it already has a successful operation that has managed to achieve an impressive ROI of 100% in less than half a year. With its team of capable personnel and strong partnership with key players in the industry, there is little doubt that there is more room for growth for Ambit Mining.