Since recent we are seeing a shift from conventional hardware-based to cloud-based mining due to the high effectiveness and lower electricity consumption of the latter.
One company, Ambit Mining has already demonstrated big results in leveraging the cloud, hosting services, and green energy.
The company has already been successful with 2 crypto mining projects: One mining facility generating 1 MW which achieved 100 % ROI in just 5 months, another one, bigger and more powerful, putting out 5MW. The company reported profits of over 1.3 million USD per year since its launch.
Now Ambit Mining is set to launch a bigger 20 MW mining facility.
What sets Ambit apart is its focus on using renewable hydro energy – according to the company, all electricity being used in mining process releases no harmful emissions into the environment. Another big advantage is that the electricity cost is also extremely low in Georgia, down to 5 cents per kWh.
Georgia is an ideal location for mining operations not only because of green electricity and low costs, but also the liberal government regulations aimed to attract foreign investments. Moreover, Ambit has been established within the FEZ (free economic zone) of Tbilisi, Georgia, which means there are no taxes on any revenue that is generated by a business.
Pre-sale and plans
The team is currently running a pre-sale and inviting backers to join in on the mining opportunity by taking part in a crowdfunding campaign. Passing a KYC verification process is a required step.
There will be a total of 104 million AMBT that will be created. Per their plans, 85% of the total token supply will be available to the public. What’s interesting, token holders will be given voting rights on certain business decisions within Ambit Mining.
According to the company’s roadmap, they plan on partnering with some of the major mining hardware manufacturers in the world.
In July 2018, the team plans to launch hosting services and in September, they plan to complete their big Mining Farm.
Overall, the near future seems bright for Ambit.
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