(Pre-Ann) Project Jupiter: GPU Mining Operation



  • You know something is big when it gets a cool name :P. Hello Guys! I have decided to start an asset backed by GPU mining. I have been calculating profit margins, and I believe this could be a very profitable operation at this current time. Mining operations should always be very well planned before anything is bought, so this Pre-Ann will lay out everything I have been calculating and let the community decide if there are any flaws. I would like to release the official asset by this Saturday.

    The Idea: The main plan of this is to use the funds from asset sales to build GPU Mining Rigs. The rigs will be hosted at my current dwelling. The estimate on the rig parts for one unit that I have planned is around $1300. Shares will be released in batches that approximate the cost of one rig. Each rig will have 5 RX 470 8GB GPUs to mine whatever is most profitable at the time. The payments will start as monthly and become every two weeks as we become larger. The eventual goal is to have a solid farm of 10+ rigs. Another goal is to eventually merge my first asset, StupenA, into this one, but I want to make sure this asset is solid before I do that.

    As stated before, shares will be sold in batches that approximate the cost of one rig. The total amount of shares is planned at 1,000,000. The prices of the shares will go as the following:

    • The shares that fund the first rig will be valued at 25 each.
    • The shares that fund the second rig will be valued at 26 each.
    • The shares that fund the third rig will be valued at 27 each.
    • The shares that fund the fourth rig will be valued at 28 each.
    • The shares that fund the fifth rig will be valued at 29 each.
    • The shares that fund rigs past the first five will be valued at 30 each.

    As you can see, late investors will still have a solid price to buy shares at. Batches will be released periodically when the following criteria are met:

    • All of the other rigs are fully operational
    • I am ready to build and operate another rig

    Sometimes it might make sense to just release 2 batches at once because of a greater demand (like at the beginning of the asset). I will release more than one batch if I believe it is the the correct move. I will announce to everyone when I will release shares at least a day ahead of the release so that everyone has a fair chance to be there when shares are released.

    Fees: The fees for any mining operation include the electricity cost and an operation fee. My electricity cost .09 USD per KWH + a 25% tax on bitcoin withdrawals. I plan to take use the rate .11 USD per KWH for my electricity fee. I have a watt meter that I can use to monitor the power usage of the rigs so this is not a problem. After electricity fees are taken, 15% of the remaining amount will be taken as the operation fee. This fee setup should provide solid payouts to the investors.

    Payouts: After fees are subtracted, the remaining amount will be split like this:

    • 75%-100% to investors
    • 0%-25% for reinvestment/maintenance

    This payout model allows me to do basic fixes and upgrades on rigs without having to release more shares. If there is nothing to upgrade or fix on the rigs, 100% will be payed out to investors. The max that can be used for fixes and upgrades for any given month is 25% which would leave 75% to investors. If anything very crucial came up that would need a bigger percentage, I would release an announcement here that will state what it is and let the investors decide if it is crucial enough to dedicate more funds to.

    Personal Investors: Many of my personal friends have showed interest in investing in this new asset so shares would be distributed to them first before I release the rest of the shares to the asset exchange as a sell order. I will also be buying shares for myself on the first batch. I am estimating that the total amount that my personal friends and I invest before the first sell order will be around $600 leaving $700 of share for investors.

    Asset Shutdown: If for some reason the asset had to be shut down, all of the rigs would be parted and sold on eBay or another similar website to try and gather as much funds as possible. The amount made from the sales would then be directly paid out to investors with 0 fee from me.

    So what do y'all guys think? Leave any questions about anything here. I'm open to any ideas.



  • 3 things come to mind for me #1 you dont currently have any of the equip to start this asset and all will be bought from funds from the sell of assets, IMO this falls in that grey area of not a true asset but yet also not a true crowdfund as you intend to pay out div's to payback funder's. #2 RX 470 4G cards use less power and have essentuly the same Hashing power as the 8G cards infact most people scale the 8G cards back to be on par with 4G cards for electric cost. #3 i would recomend you to pursue the personal investors you have first allow them to get your opperation started and get 1 minning rig up and running even if it does not have a full 5 card's with the investment from the personal investors befor you move to public launch, then at least you will be coming to the table with a functioning minning rig at start for public investing.

    Edit i just reread the part about personal investors and it seems i skimmed over the befor first sell portion, if that also includes purchasing and building the first rig befor first public sell order launch then disreguard #3.



  • @Gibsalot To answer these concerns:

    1. I have decided to take your advice and get a rig setup with my personal investors first and then we will start the public release of the asset. Just today I raised $600 of pledged funds and I plan to invest $400 myself. There are also many people that are thinking about investing so we should hopefully have the first rig completely built before the first release. :)

    2. The reason I wanted 8GB cards was that they hash much better in Ethereum and Ethereum Classic (The 2 most profitable coins to mine right now). The reason is that they have much higher memory speeds than the 4GB version and these two coins have an algorithm that is highly reliant on the GPU ram speed. I will do some more calculating and see if it is better to go for the 4GB cards.

    3. The first answer should address this concern.

    Thank you for the feedback! Any feedback is helpful!



  • @stupendelious trust me undervolting with the rx 480 4gb is way more profitable, power matters a lot here, especially in a rig your building, 8gb might be at 2000MHZ but default stocks may put the card at over 90c



  • @HiDevin Yes, I have found videos about how to flash a better bios for the cards so now I see my flaw. @Gibsalot @HiDevin Thanks a lot guys for helping me find this flaw in my understanding :)



  • @stupendelious hope it goes well in bios flashing, ik im young, but i bricked a rx480 before its pretty easy to brick it



  • I like what stupen has been doing around here. I will invest a little bit if you stay unverified but if you verify I will invest a lot more.



  • @stupendelious Although not decided yet I think you should assume that if you want an Announcement and Project thread on the Forum that you will need to be Identity Verified including Age before it can be posted.

    Rich


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