Advanced Miners, found online at AdvancedMiners.io, is a Hong Kong-based cryptocurrency mining company. Find out how it works today in our review.
What Is Advanced Miners?
Advanced Miners is a cryptocurrency mining company founded in Hong Kong in 2016. The company maintains several mining farms across northern China. They’ve also created their own ASIC AM-12 based on a 12nm chip.
Advanced Miners has been making headlines recently for launching its ACM tokens. Similar to tokens offered by other cryptocurrency mining companies, ACM tokens entitle you to a share of profits generated by the company.
You can also purchase the company’s own ASIC for 1,000 ACM tokens. That ASIC generates 28,000 GH/s of hashing power on the SHA-256 algorithm.
Although Advanced Miners claims to maintain several mining farms in northern China, they also claim to be exploring the launch of mining farms in Canada, which offers similarly cheap electricity rates.
Advanced Miners announced the launch of its token sale on April 20, 2018. The ICO for ACM tokens begins on May 1.
Advanced Miners 12nm ASIC Crypto Mining Chips Advantages
The main advantage offered by Advanced Miners is that the company claims to have created an ASIC unit capable of offering superior hashrates to the Antminer S9 – but at a cheaper price. The S9 currently dominates the ASIC cryptocurrency mining space, so this is a big deal.
In any case, Advanced Miners claims their ASIC yields twice as much hashing power as the Antminer S9 but at a cheaper price. The company has installed their own ASIC units at their cryptocurrency mining operation in northern China. Now, they’re selling ASICs to the general public through the ICO.
Advanced Miners is preparing to launch the first round of its 12nm chips in the first half of 2018.
Meanwhile, by the end of 2018, Advanced Miners claims they’ll be ready to launch 7nm chips.
How Do ACM Tokens Work?
There are two broad uses for ACM tokens:
- Buy hashing power from Advanced Miners and gain profits through the Advanced Miners mining farm in northern China
- Purchase an entire ASIC unit and run your own cryptocurrency mining operation
Once the ICO is complete, Advanced Miners will open an online marketplace where investors can purchase ASIC units or hashpower. At this point, you’ll be able to purchase the company’s 12nm Fin FET Compact (FFC) semiconductor chip for 1,000 ACM Tokens.
Advanced Miners ACM Token ICO Details
The ACM token sale begins on May 1, 2018.
There’s a total supply of 32 million tokens, with 24 million reserved for the two rounds of the token sale and an additional 6 million tokens reserved for the pre-sale. The final 2 million tokens are reserved for bounties and the Advanced Miners team.
Tokens will be sold at a price of $0.70 per ACM during the pre-sale, rising to $0.9 and $1.20 per ACM during the first two rounds of the Advanced Miners ICO.
Advanced Miners is seeking to raise $32 million during its ICO.
Who’s Behind Advanced Miners?
Advanced Miners is led by James Peiron (CEO), an entrepreneur who previously worked for several different brokerages and crypto mining companies. He was an advisor at London Brokerage Ltd, for example and an Executive Manager at Hong Kong Exchange & Clearing Ltd. Then, Peiron migrated to the blockchain space. He became a Board Member at the Swedish Blockchain Association and the Head of Business Development at the Dominion Bitcoin Mining Company Ltd.
That all sounds good, but there’s something unusual about the CEO’s LinkedIn page. First, his name is listed as “James Peiron” on the official website, but it’s listed as “James Pieron” on LinkedIn. The biggest red flag, however, is that there’s no information about any of his previous work. We can’t find any information about the vaguely named brokers like “London Brokerage Ltd” and “Hong Kong Exchange & Clearing Ltd.”
We can find more information about James through Google – but the information doesn’t seem to line up with what’s posted on the Advanced Miners website. James is listed on ForexMagnates.com as the CEO of ILQ, for example. He was also featured in a business group discussion for Mt. Pleasant, South Carolina business owners, where he was recognized for his work as a military consultant, an FBI consultant, and entrepreneur. None of this work is mentioned on the Advanced Miners page.
The other worrying thing about the Advanced Miners team information is that the co-founder of the company, Zhang Jin Wei, has not publicly posted anything on his LinkedIn page or other social media regarding the Advanced Miners project.
Ultimately, something seems off about the Advanced Miners team section and their associated LinkedIn profiles. However, the team section isn’t as blatantly fake as other ICOs we’ve reviewed – some of which use stolen photos from across the internet.
Advanced Miners Conclusion
Advanced Miners claims users can earn huge profits through cryptocurrency mining. By buying a $1400 12nm ASIC chip from the company this year, you can earn $14 in profit per day. That doesn’t sound unreasonable given cryptocurrency profits today.
However, there are some unusual things about Advanced Miners. First, the company claims to have created a chip that offers double the hashpower of the popular Antminer S9. The company also sells their chip at approximately the same price, with more ASICs expected to launch over the coming months. The company claims to be launching all of these products in the middle or end of 2018, although we can’t find any definitive evidence these products actually exist.
Ultimately, something seems a little off about the Advanced Miners ICO. The company may be totally legitimate, but certain things – like the estimated annual ACM token growth of 438% per year and the vague team information – seem unusual. Nevertheless, you can learn more about Advanced Miners and decide for yourself if it’s worth an investment by visiting online today at AdvancedMiners.io. The ICO for ACM tokens begins on May 1, 2018.