We are a team of dedicated Bitcoin mining professionals and long time supporters of the crypto-currency movement with a strong passion for the Bitcoin community and big ideas for the Bitcoin market place.
We are looking to expand existing mining operations. We have been mining for nearly 2 years and have a significantly large “Private / Dedicated” server room infrastructure, with controlled personnel only access, equipped with dedicated power generators capable of handling massive power loads, UPS power backups for maximum equipment uptime and protection from power surges, a 4 Ton cooling unit to support a large scale mining operation.
BIT.ASIC Equipment Purchased:
BIT.ASIC operates ASIC Bitcoin mining equipment which results in mining Bitcoins for income.
We have purchased the following Bitcoin ASIC Mining Equipment:
Order no. 16897, pay-dated 1/18/2013, for 1 Butterfly Labs (5 GH/s Bitcoin Miner) (Purchased and Confirmed)
Order no. 100049260, pay-dated 4/2/2013, for 1 Butterfly Labs (30 GH/s Bitcoin Miner) (Purchased and Confirmed)
Order no. 100031677, pay-dated 4/2/2013, for 1 Butterfly Labs (30 GH/s Bitcoin Miner) (Purchased and Confirmed)
BIT.ASIC’s offering is comprised of 100,000 shares in total. 1 share of BIT.ASIC on BitFunder represents 1/100,000th of 100% of the monthly profits after all expenses.
BIT.ASIC shares offer no voting rights. Shares of BIT.ASIC on BitFunder do not represent real world shares of the company. The shares are solely a distribution mechanism for rights to profits.
The funds from the IPO will be used for purchasing additional ASIC Miners, market and mining research, licensing fees, and other necessary needs for developing a large scale ASIC Mining operation. The funds will be invested in G.AsicMiner-PT on Bitfunder.com or other Bitcoin mining shares that pay dividends until the funds are needed for the above usages. The funds may also be used to purchase Bitcoin mining machines
from Butterfly Labs or any other manufacturer of Bitcoin mining machines or any other source of Bitcoin mining machines which will increase the dividends for investors.
Should the asset be sold or closed, the full amount of the purchase price, liquidated income, and any mining revenue not distributed will be evenly distributed to the 100,000 shares.
As long as BIT.ASIC requires less than 3 employees, no salaries will be paid as expenses, and are only paid as dividend payments.
Expenses will only be charged for the following direct mining equipment expenses: Utilities, equipment maintenance and repair, mining equipment space rental, internet access, mining equipment systems administration and maintenance, mining pool fees, and any other necessary direct miscellaneous mining equipment operational expenses. Total mining expense will not exceed 10% of the annual gross revenue.
Dividends will be paid once a week.
The issuer reserves the right to buy back shares at a price equal to 105% of the highest price the asset was traded for over the prior 7 days.
About the Issuer:
We are a team of IT professionals & business owners with expertise in the fields of server hardware / infrastructure and web engineering.
Alongside our ongoing mining activities, we recently launched http://bit.co.in which offers the crypto-currency community a free address shortener. This is a launch pad for many ideas we have for the developing community.
We are actively involved in the forums.
Feel free to contact us at:
Email: [email protected]