Ambit Mining Smart Contract & AMBT Token
Ambit Mining is an organization that was established in the Summer 2017, and is part of the bigger BFGroup Holding that also controls several business in Georgia such as Petrol stations, poultry farms and an international audit firm. In November Ambit Mining completed the construction of its first fully functional and diversified Mining farm in the Free Economic Zone, Tbilisi, Georgia, with the capacity of 1 MW. Following the success and profitability of the farm, now Ambit Mining provides an opportunity for mining enthusiasts to become part of the mining family and further expand the existing, profitable mining operation to reach up to 20 MW capacity. Instead of offering the investment opportunity to the few large investors, Ambit Mining ICO allows the individuals interested in cryptocurrency mining to enter the mining operation and share the profits of the future operation. For more information visit website.
Ambit Mining offers the purchase and setup of the best available mining equipment at the end of the ICO. With the electricity cost as low as 0.05 USD/kW/Hour in the Free Economic Zone in Tbilisi, it makes our mining facility one of the most competitive in the world. Ambit Mining can support up to 20 MegaWatt capacity for its miners which will mine all key scalable cryptocurrencies such as Bitcoin, Ethereum, Dash, Litecoin, Zcash etc. whichever will be the most profitable at the time AMBT token is an ERC 20 Ethereum based token. It entitles the token holder to receive percentage share of net profit of the Ambit Mining operations. (payed on bi-weekly basis, 75% will be distributed as dividends, while 25% will be reinvested to match the raising diculty in mining and to improve future payouts)
All token holders will receive bi-weekly payouts: 85% of the net profits from the mining operation and 85% of the net profits from hosting services. (In accordance to the rules as set up in the Smart contract). Dividends will be calculated and paid on bi-weekly basis in ETH. The size of the dividend will be determined in a pro-rata share of the tokens held by token holders during a full dividend cycle (every 2 weeks) before the dividend declaration. For example if an user held 100 tokens in the beginning of the cycle, and sold 30 during the cycle, dividend will be allocated for the remaining 70 tokens which were held during the full duration of the dividend cycle.