The CryptX PetaMine IPO is set to add 1,000 Th/S to CryptX's existing 500 Th/S hashrate. After completion of the IPO, which lasts until May 31st, CryptX PetaMine will control a whopping 2% of the entire Bitcoin network in terms of hashrate. The CryptX PetaMine…
My name is Bert Valkenborgs and I’m the CEO of CryptX.
I direct our business strategy, forge strategic partnerships, and handle financial administration. Before CryptX, I founded multiple companies in the renewable energy, electric vehicle, and real estate sectors. I bring fifteen years of financial industry experience to CryptX, much of which was spent in management.
Bitcoin mining has been a very exciting venture and we are excited to contribute to the future of this community-based financial system.
I’d like to thank all the unit holders supporting our projects.
Founded in April, 2013, CryptX is a limited company located in Brussels, Belgium. CryptX operates in the cryptocurrency space, where it manufactures, purchases and hosts mining hardware. We were also the first seed investors in CoinTerra.
In August 2013, CryptX launched the hosted bitcoin mining project, PetaMine, which is currently operational at 500 TH/s and is listed on Havelock Investments.
In light of this project, the company successfully developed Bitfury-based systems in September 2013. These miners were sold so the funds could be used to deploy PetaMine as we see it today.
Now we are taking the project to a new level by tripling the mine’s hashrate to 1,500 TH/s or 2% of the Bitcoin mining network. Each of our units will represent 15 GH of hashing power.
The concept of PetaMine comes with a number of advantages:
PetaMine eliminates the cost-prohibitive barriers to Bitcoin investing. Now everyone can join the cryptocurrency community, starting with just a single unit.
PetaMine has already paid its unit holders up to 46% of revenue in dividends. At the same time, the unit price is trading at well above our original IPO price.
With this new IPO, we take the value of each unit to the next level. Our current unit holders will be entitled to 15 GH per unit compared to 7.55 GH prior to this IPO.
New investors can buy the IPO units at 0.095 BTC per unit. This is a large discount considering the value of our units when hashing at 7.55 GH.
We use hardware based on the latest generation of Bitfury chips. Our miners have a hash rate of 3.5 TH and a maximum power consumption of 2,750 watts at the wall. This means our hardware has the bestperformance in terms of hash power and power ratio on the market today. Considering the importance of power in the Bitcoin mining space, this gives us an important competitive advantage.
We are continuously searching the market for mining equipment with the best power and price ratios because we strongly believe that standing still is going backwards.
We believe the three most important factors for success in the Bitcoin mining space are hardware prices, power consumption and hosting costs. We will excel in all of them.
We have established partnerships with all leading Bitcoin hardware manufacturers on the market today. We have access to preferential hardware prices due to the scale of our operation.
Our hosting costs are already some of the lowest in the market and we are continuously looking to improve on this.
PetaMine is on the verge to become one of the largest Bitcoin mining operations in existence. You can be part of this exciting venture. More information can be found here
CryptX PetaMine is acquiring a very large amount of Mining hardware and will control a very impressive Hashrate. The company offers some unique features that might give an edge over other mining companies. PetaMine is a very significant expansion in terms of Bitcoin mining. As more large companies begin to expand Bitcoin business, the potential for Bitcoin to go mainstream increases. CryptX PetaMine is in a very good place to offer a Bitcoin investment opportunity to a very large amount of people. The PetaMine IPO continues until may 31st; you can read more about the company here.
Last modified: January 25, 2020 10:01 PM UTC