Before we begin with this review, it can be beneficial for the readers of this article to learn about cryptomining.
In its most basic sense, crypto mining is the process by which blockchain transactions are validated and thus added to a decentralized ledger. Not only that, it also serves as the primary means for the creation of new alt currencies.
However, one should realize that currency mining is a complicated procedure that involves compiling recent transactions into blocks which are then computationally solved via energy exhaustive GPU and ASIC rigs.
About the Ambit Mining Project
Ambit is a mining operation that has been established within the FEZ— free economic zone— of Tbilisi, Georgia. The company finished work on its first self-sustaining mining farm last October and is now aiming to expand its operations via the use of a crowdfunding campaign.
According to the official whitepaper, Ambit is looking to provide its investors with the opportunity to become part of their mining operations as well as allowing them to earn a steady income stream on a bi-weekly basis from the mining and hosting profits.
Other key aspects of this setup include:
The company aims to foster a highly transparent and secure mining system that allows token investors to have a say in official business matters— through the use of decentralized voting practices.
Unlike some other projects in the market today, Ambit is already an established player within the mining domain and has presented profits in excess of 1.3 million USD per year since its launch.
One of the major downsides of large-scale mining operations is that they are highly energy intensive. However, all of the mining rigs used by Ambit are powered completely by 100% renewable hydro energy. In fact, a data sheet on the company’s website shows that Ambit procures low cost green electricity at an impressive rate of only 5 cents per kWh.
Ambit is located in Georgia which is known to be amongst one of the most crypto friendly nations on the planet today. Not only is there a plethora of abundant green electricity available in Georgia but even its local laws are highly in favour of blockchain technology.
Other Key Factors to Consider
(i) Non Taxable Profits:
According to the company’s roadmap, they plans on partnering with some of the major mining hardware manufacturers in the world today. This is being done in order to maximize the mining potential of the existing rig and to optimize processing costs and overall profits.
Ambit Mining ICO (AMBT Token) Details
In all, there will be a total of 104 million AMBT that will be created. Out of this number, 88 million AMBT will be issued to the general public and early investors. In terms of the price of this currency, each AMBT token will be available for a general sum of USD $0.5.
There will be certain bonuses available during the 4 distinct sale periods (the details for whom can be checked out on the official Ambit website).
Distribution of issued tokens will be done as follows:
- 85% of the entire currency pool will be issued to potential token holders
- 3% of the tokens will be put into a special company reserve.
- 9% will be used by the core team and advisors of this project.
- The remaining 3% will be used for the creation of a bounty.
For any other details or queries in regards to Ambit or their operations, users have been asked to get in touch with company representatives via email.