AX1 explained The future of large scale crypto mining
We wanted to do something more than launch just another token that distributed mined coins. Instead, we wanted that mining pool to actually help create long-term capital value for the token itself.
Mining AdaptabilityMany current mining operations spend huge amounts of money on hardware, in many cases that hardware is not very adaptable between coins. We wanted to avoid this as far as possible as we would rather mine coins more likely to increase in value than less likely to increase in value for the same net cost. The ability (within the obvious constraints of current technological possibility) to switch our rigs from mining one coin to another at short notice as directed by the Strategic Advisory Committee is a key consideration in our overall plan.
Avoiding over-concentration riskThis factor is closely connected to mining adaptability. When analysing many of the current miningoperations that have been established for some time, we observed that in many cases the operationswere too focused on one particular coin. We wanted to avoid this and instead mine several coins, fromday one.. The layout of our data centre building lends itself very well to this as we can easily demarcateour miners by coin, even down to individual bays. With planning permission already approved for a second site, AX1 will build an additional structure that will also facilitate the above.
Research & DevelopmentConcentrating absolutely all resources on todays mining operation only makes sense in a totally static mining space: one in which coins never deplete and the difficulty of mining them never increases. We know, of course, that no such mining space actually exists. We also know that in order for our token to be the best token in this category, we will need to constantly innovate and adapt our operation to keep up with both new technology and the dynamics of what coins to mine. To this end we are placing a major focus on R&D so that we can be sure we are the leaders when it comes to finding new avenues of profit.
Operational ScalabilityThe whole project has been designed from inception with scalability in mind. The target amount to commence work on the second site in England is $10 million and when this amount is reached, work will commence on the second site and funds deployed to fit out this custom built mining centre. Planning permission has already been approved for the second site. If the crowdsale raises more than can be deployed on these two sites, the issuer already has commitment for use of space in an existing operation in Canada and is in discussion over precise terms this will be operationally integrated with, and controlled by, the base site in Manchester.
The OpportunityAs time has passed, more and more people have got involved in crypto mining. With increasing numbers of miners attempting to solve the problems each day, it would follow that the hashes of blocks are being calculated at increasingly faster rates. To avoid things spinning out of control, the community agrees to increase the difficulty of the problem miners need to solve to ensure the consistency of the block generation. Due to the complexity of the problems, it is now almost impossible to mine profitably from home using standard computer equipment. However, there is still a great deal of profit to be made for those who can access the right equipment, suitably managed, cooled and administered. People looking to mine cryptocurrencies in the near future are likely to be much more successful if they have access to a centralised mining pool that is built to withstand this increasing complexity of the block solution.
With AX1, we are offering token holders thechance to participate in a managed mining operation and enjoy capital appreciation via contractually guaranteed economic rights in the portfolio of mined coins. After deduction of any costs and liabilities incurred by the issuer, at least fifty percent of the value of the mined coins will be placed in a segregated account in order to assetback the AX1 Tokens. This represents a real, contractual, substantive and auditable value guarantee and is a key strength of this offer in addition to the other attributes of the AX1 Tokens discussed elsewhere. Under this arrangement, the Issuer will have NO further entitlement to withdraw, or otherwise use for any purpose of the issuer, ANY of the assets of this segregated account: its value therefore provides a solid basis for the perpetual assetbacking of the AX1 token and peace of mind to AX1 token holders that the Tokens are true and verifiable store of value. The assets held in the segregated account, though off limits to the Issuer will not just languish, however, but continue to be advised upon by the Investment Advisory committee and therefore could be deployed in Proof of Stake activities and or by being traded as part of exchange operations to the increased value of the token holders. The segregated account will even be audited on a quarterly basis to provide yet more confidence to token holders with the results posted onto our online portal for review.
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