Cryptum Mining

Cryptum Mining project information

From: Grigor Stoichkov, Nikolai Tsekov

So far we haven’t shared much about the Cryptum mining project. Sure, you got hints through our bounty campaign (and we got no answer that is close to the mark), but we have to tell the future CRTM token owners how do we plan to develop this part of Cryptum. The Mining project will be developed only if we sell 150 000 or more CRTM (outside bonuses, mind you, so any sale bonuses are discarded from the total), which is fairly low number - we already got interest of investors well above that.

Our sale is limited to 1.1 million of CRTM, incl. bonuses, and the mining project funding is 30% of the total, so the maximum is somewhere around $1.8 million, and this is a number that mostly refers to our capability of managing the project. If we were asking for $100 million instead, the main funding goal - our board games project, would receive way more funds than it needs, and it won’t scale much above the previous expectations, while the mining project would become more than we could handle, or it would have to be reshaped into purely ASIC mining farm that would be easier to manage.

So we are looking in investment somewhere between $250 000 and $1 800 000. Quite a difference for planning, right?

The Cryptum Mining Prospect

Ensuring investment returns for Cryptum Token holders is one of the noteworthy goals of the Cryptum project. We would invest in a small to mid-range mining farm (it really depends on the success of the crowdsale) in order to develop a long term income to the project. We are aware this offers diminishing returns, hence we would start with 50% shared profit for the first 4 months and lowering them gradually by 5% every 5 months down to 30% at the end of the second year of operation. After 24 months of shared profit, this project would start contributing only to our board gaming project and we will use it to fund the production of more games, which will still generate shared profit for you.

The rest of the profit would be reinvested in expanding/upgrading the mining farm, or in the board game line for the purpose of ensuring faster development time by allowing us more freelance contracts, and a small part would support the Cryptum Cryptocoin Project as described in it’s Financing section. After the second year the mining project would serve solely the financing of the board game line, ensuring constant funding and raising the profits of each consecutive board game project. We would also use the income to fund any additional projects we include in the Cryptum Network (see Other Projects).

  • Team: Internal software control, contract hardware acquisition, contract hosting (may be changed to own location depending on funding)
  • Partners: Hardware BG Ltd
  • Financing: 30% of the initial token sales
  • Development timeline: 3 to 6 months development (read: as soon as possible), 24 months operation at full power for the purposes explained above, lifetime of upgrades and reinvestment in the board game project, also investment in Other Projects.
  • Updates: Regular updates and information in the Cryptum Mining category