Hodler Mining is a Hodler Enterprise.
You are now viewing the project page of Hodler Mining.
Visit our enterprise website to view technical data about this project or
to learn more about investment possibilities.
Where are we now?
Hodler Mining has been off the radar for a few weeks.
During the last few weeks, a lot has changed in the world of cryptocurrency mining. We have put the ICO on hold until we have finished our research.
What kind of research?
During the ICO, Nvidia has released an update about their new GPU’s.
They claimed to release new GPU’s that perform much better than the previous generation.
The claims they have made can be viewed here in this video on YouTube. Based on these claims, we could guess that the output on these cards would be at least 70-80MH/s on Ethereum. We went to Cologne in Germany and visited the Nvidia GeForce event, where the new cards were revealed and shown to the public for the first time.
We have pre-ordered a few and went back home. Nvidia should have shipped them on the 20th of August 2018 but as most of you know already, they have delayed the shipping of these cards twice since then. We expect to receive new demo cards in week 41. We have seen some reviews from other sources and have noticed that the output of RTX2080Ti’s will be less than 45Mh/s on Ethereum.
Mining Difficulty and Value
Since February 2018, we have all noticed that the market started crashing slowly. Most of the coins dropped in value by 75% and the mining difficulty increased over time. The increased difficulty of mining, combined with the decreasing value of cryptocurrencies, made mining less profitable compared to early 2018 results.
With GPU mining we have the possibility to mine several algorithms.
Obviously, we have been looking at mining Ethereum.
However, looking at the future of Ethereum (Casper, Block Rewards, difficulty), we can already guess that Ethereum will not be profitable enough for mining. This means that we should focus on alternatives like Ethereum Classic and coins based on the Cryptonight algorithms like Monero. Mining other algorithms also means that we should not focus on Nvidia cards only.
So, what is the solution?
With the factors explained above, we had to deal with new challenges and create a new plan to make Hodler Mining profitable for everyone.
We are still waiting for the RTX2080TI’s to arrive, so we can test these cards ourselves. If the new cards do not perform as expected, we will order the RX580 instead. This decision has been made due to the massive price drop of the RX580 and also, because we have negotiated a discount with the supplier.
The RX580 is the most profitable card if we analyze the price per MH/s per card.
As for the cooling, we have a lot of space at our mining facility. Some of you, who have visited us before, have seen this already. We have removed immersion cooling temporarily because we did not reach the soft cap yet. We have decided to increase the output by using more space and build more miners with the funds raised and install the immersion cooling upgrades as soon as we reach the soft cap. The idea of using immersion cooling technology cannot be ignored in the Hodler Mining operation. In the longer term, the immersion cooling technology will decrease the electric usage and it will increase life expectancy of the hardware.
Not only the old generation GPU’s dropped in value. But also, the other components that we use to build miners dropped in value. In overall it means that we can build a miner for much better price than back in June. These changes will reflect in the current ROI calculation.
During the research we’ve also looked on how to get the maximum out of our budget. In the earlier calculation, we wanted to hire new people to oversee the mining facility. In June we have moved our office to the mining facility. During office hours there is always a Hodler team member in the facility. Javed, Hans, Marco, Nayiem and Sayuta will work in shifts outside the office hours. This solution helped to improve the ROI.
Given the current situation we have calculated, that the ROI is 2 years. This is based on bitcoin at a value of 6500 dollars. If bitcoin reaches the value of 17 December 2017 which was 20.000 US dollars, the ROI is 4 months. Factors like pool profits and reinvestment in hardware has been excluded from the ROI calculation.
New tokens for Hodler Mining
We have added a few more options for investors that are purchasing tokens. We’ve noticed that not everyone wants to receive their payouts in Neblio. We have recently burned 750.000 (HODLR NTP1) tokens and created 250.000 tokens on the Ethereum platform (ERC-20)
We are also aiming to create QAE tokens and BCH tokens for Qredit and Bitcoin payouts.
In total we will have 1 million tokens with a value of 150 euro per token split in 4 different platforms for different types of payouts.
When does the mining start?
We are pretty sure that we are going to use the RX580 cards for the mining operation. But we are still going to wait for the RTX2080Ti’s for testing purposes. We want to see it with our own eyes and overclock these cards to the max. Once we know for sure which cards we are going to use, the equipment order will be placed in week 42-43. The mining operation will start in week 44-45. The first payouts are expected to be in week 47. The payments after will be done every 4 weeks. The genesis wallets are obviously excluded from participating in the shares.
The hardware for running the mining pools have already been ordered. We aim to run our own pool starting in week 43. The profit that has been made with the pool will also be shared with the Hodler Mining token holders. Early investors will be allowed to name the first miners. The name of these miners can be seen in the dashboard of Hodler Mining and in the worker field of the mining pool dashboard.
Apps and Dashboard
We are creating a mobile app and a web app to monitor the output of Hodler Mining and to manage your funds and payouts. Within the dashboard you can check for the next payout and view other token holders for better transparency.
Later this month, 2 exchanges are planned for Hodler Mining tokens. HODLR (NTP1) is going to be listed on Neblidex. HDLRE (ERC20) is going to be listed on Altilly. Please keep in mind, you can only receive payouts if you have tokens with an integer value. Decimals do not count in the payouts. If you keep your tokens on the exchange, there is a chance that the rewards will be sent to the exchange instead of your wallet. Therefore, we advise to you to keep the tokens in your own wallet to receive the rewards.
So far, we have raised about 200 000 euro with 174 participants. The goal is to receive at least 850 000 euro to maximize the discount on hardware and to start using the immersion cooling technology which will result in better ROI’s on the long term because of the massive reduced energy usage.
In the following weeks we will briefly announce every update and progress on Hodler Mining. We apologize for the delay, most of you might understand that research and timing is a critical factor for an operation of this magnitude. We hope that everyone is excited as we are!
Thank you for taking the time to read this article.
– Team Hodler Mining