FAQ’s

FAQ’s2019-05-06T14:25:36+00:00

Frequently Asked Questions

What is the corporate structure of the farm?2019-05-02T13:50:20+00:00

The farm is owned by a group of family members with industrial businesses located in Siberia. The company, GK Staratel, is domiciled in Russia and capitalized with 1m (USD) and has been in operation for over 10 years. In 2018, the company retrofitted a former steel mill that was not in operation into a bitcoin mining farm. Later that same year, the company engaged Amir Ness to manage the marketing and sales for the company to private investors worldwide.

Is there a token or erc20 contract? Will this be listed on an exchange?2019-05-02T13:50:45+00:00

There is no token and the investment is neither a security nor a utility. We are a data center providing investors with bitcoin mining management services. The miners purchased (assets), are owned fully by the investors. The company charges a flat management fee of 20% of net profits.

Are there any other fees?2019-05-02T13:52:10+00:00

Each client is provided with a secure wallet, courtesy of easymine.io. There is a fee of 1% for the wallet services. There are no other fees.

Is mining legal in Russia?2019-05-02T13:52:42+00:00

Yes, bitcoin mining was made legal in Russia in 2018 through formal legislation. Moreover, Siberia has become a hub for large bitcoin mining farms due to the plentiful and cheap electricity rates.

Can we insure our miners?2019-05-02T13:53:20+00:00

Yes. While most clients do not purchase separate insurance because the farm has on site personnel 24/7; we do offer the option to acquire insurance. Insurance is provided through a licensed and bonded local insurance company, the cost of which is $5 per miner, per year. Insurance is for replacement value. Please inquire if you would like to insure your miners.

What is the current profit per miner?2019-07-09T16:06:22+00:00

The ROI in mining can be very volatile and are contingent upon bitcoin price and mining difficulty, two things nobody can predict. Currently, on the innosilicon T3 50Terahash miner, the monthly profit is $300- after our 20% management fee. The returns per month change on a regular basis, please do your research and consider your risk comfort level.

What are the risks?2019-05-02T13:54:01+00:00

Bitcoin mining can be extremely volatile. It is not uncommon to have ROI swings of 50% from one month to another. Moreover, because profitability is contingent upon bitcoin price and mining difficulty- two things which cannot be predicted into the future, any calculations made with todays numbers may not be applicable one month from now. This investment is geared towards high net worth individuals who understand the risks associated with bitcoin mining and are comfortable taking those risks.