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FAQ

1. ICO and token questions

1. Where to buy cryptocurrency?

Cryptocurrency can be bought directly from anyone holding coins (if you know someone who is), or on a cryptocurrency exchange, where your coin of choice is supported. You can also buy cryptocoins via over-the-counter exchangers such as localbitcoins.net and localethereum.com

2. Do you have a bonus program? How can I receive bonuses?

The bonus program is an integral part of the entire token sale process. Bonus tokens are given away for no additional charge when you purchase MNRY during either the Presale or ICO. The amount of bonus tokens is set according to the following table.

Token sale weeks Bonus tokens per 100 MNRY purchased
Presale (min – 10,000 MNRY) 20
1-2 10
3-4 8
5-6 6
7-8 4
9-10 2
11- through the end 0

3. You are a scam!

MINERY is building five mining facilities with a combined capacity of 55 MW that will be used for mining cryptocurrency by token holders and lessees. You will be able to see all the project documentation on http://mnry.io as it comes. All the MNRY tokens are backed by real capacities at our mining facilities.

4. The ICO market will soon come to an end. It’s a ponzi scheme, every ICO is a fraud, you’ll go bust in 2-3 months.

ICO is an organizational form of crowdfunding that enables funding through issuing tokens. With that in mind, it naturally presents a method for decentralized funding towards a shared objective. In our case that objective is financing the construction of five mining facilities with a combined capacity of 55 MW. We do not promise dividends to our token holders. They receive profits from mining or renting out their tokens themselves.

5. What are MNRY tokens? What are they for?

What are MNRY tokens? What are they for? MNRY token is an ERC-20 compliant Ethereum token that confers the right to place mining equipment at one of MINERY mining facilities for 30 years. One token is equivalent to one watt of power capacity of whatever equipment is placed. You can mine cryptocurrencies yourself or rent your tokens out. If you want to place an Antminer S9 rated at 1500 W you will need 1500 MNRY tokens. The tokens required to host your equipment of choice can be bought during an ICO or rented when the issue has commenced.

6. How can I purchase tokens?

MNRY tokens are initially put on sale during the Presale and later during the main sale. The minimum purchase for the Presale is 10,000 MNRY tokens. During the main sale the minimum is 1. Accepted payment options: Bitcoin (BTC), Ethereum (ETH), wire transfer in US dollars, Euro and the Russian rouble. To make a purchase worth over 10,000 US dollars you can use a wire transfer.

7. When do I receive my tokens?

The token generation and distribution event will take place no later than 10 October 2018.

8. How and where do I store MNRY tokens?

MNRY token is an ERC-20 compliant Ethereum token. ERC-20 tokens are stored in wallets supporting this standard, such as MyEtherWallet.

9. What do I actually own when I hold the tokens? A share in the company?

MNRY token is an ERC-20 compliant Ethereum token that confers the right to place mining equipment at one of MINERY mining facilities for 30 years. One token is equivalent to one watt of power capacity of whatever equipment is placed. You can mine cryptocurrencies yourself or rent your tokens out. Token holders are not entitled to any property rights or a share in the company.

10. Why do you need an ICO? How are you going to use the money?

ICO is an organizational form of crowdfunding, or collective funding through token offering. In our case, we are funding the construction of five mining facilities with a combined capacity of 55 MW in the Eastern Siberian region.

11. What is the token’s speculative value? Why should it rise in price in the future?

MNRY token price will rise if the demand for hosted mining increases. Considering how hot the topic of mining cryptocurrencies is becoming, the rise in demand and, consequently, in price of the tokens can be substantial.

12. Will there be an escrow?

All the funds raised during the initial offering will be placed in an escrow account. The escrow account releases the funds when construction stages are reached, in accordance with the total amount of mining capacity in our mining facilities.

13. Where can I see your advisors?

You can see advisors of the MINERY project on our website at http://mnry.io.

14. Where can I see your ICO progress and the amount of funds raised?

You can see our ICO progress on our website at http://mnry.io.

15. How much time does it take for a payment to clear? What about fees?

MINERY does not charge any fees for financial transfers. The time required for the payment to clear is determined by your financial service provider only (bank, exchange, etc.) In our system, the transfers become available upon receipt and can be viewed by clients immediately.

16. How can MNRY tokens be useful to me as an investor?

Investors will find MNRY useful in two ways. First, if they decide to take on mining themselves, with our tokens they will be able to take advantage of low electricity rates and beneficial terms of service. Mining is one of the most profitable types of activity nowadays. If one bitcoin goes for $8000 on an exchange, mining one coin costs around $3400. Second, investors can rent out their tokens at a rate of $0.04 per 1 kWh. With 1 US dollar per token this means a 40% profitability in dollar terms.

17. Do you have a softcap? What happens if you don’t reach it?

The MINERY mining facilities will come to fruition if the total amount of tokens sold reaches the softcap. We have set the minimum amount to 15,000,000 MNRY tokens for the duration of our token sale.

18. Do you have a hardcap?

The total token supply is capped at 55,000,000. 47.8 million tokens will be distributed among MINERY clients with 7.2 million more in reserve for the team, partners and advisors.

19. What happens if you raise more money than you require?

Building five facilities, creating both technical and software infrastructure for large scale mining is not cheap. All these works are subject to strict budgeting and project plans. The token supply was set with a clear-cut budget in mind to cover all expenses. We simply cannot raise more funds than we need. The hardcap is set at 55 million dollars. Once this amount is reached, the ICO is terminated.

20. Is it possible for the tokens to drop in price after the ICO?

MNRY token price is determined by two primary factors. First of all it depends on how effective mining is as a business. Mining is one of the most profitable types of activity nowadays. If one bitcoin goes for $8000 on an exchange, mining one coin costs around $3400. It is only natural that when cryptocurrency prices rise, mining becomes even more profitable. The token may drop in price only if the expenses are higher than mining revenue. However, this is unlikely to happen. Second, MNRY token price depends on the price of electricity. In theory it is possible that somewhere sometime a virtually free source of energy appears, but it is unlikely to come in the next 30 years.

21. What are the main factors that can positively or negatively affect the price of the token in the future?

MNRY token price is determined by two primary factors. First of all it depends on how effective mining is as a business. Mining is one of the most profitable types of activity nowadays. If one bitcoin goes for $8000 on an exchange, mining one coin costs around $3400. It is only natural that when cryptocurrency prices rise, mining becomes even more profitable. The token may drop in price only if the expenses are higher than mining revenue. However, this is unlikely to happen. Second, MNRY token price depends on the price of electricity. In theory it is possible that in the future a source of energy that is cheaper than a hydro power plant, but it is highly unlikely to come in the next 30 years. MINERY mining facilities are located in the Russian Siberian region where electric power is in surplus, and hydro power plants are the primary source of electricity. This is the cheapest renewable source of energy on the planet.

22. When will tokens begin trading on exchanges? Which exchanges exactly?

We are negotiating and applying for listing with all the main international crypto exchanges. Depending on the market conditions, legal and technical factors, the tokens should get listed on an exchange no later than three months after the date of issue.

23. Why do I have to wait so long for an exchange listing?

Tokens cannot enter circulation before the official date of issue scheduled for 10 October 2018. This date is when we finish building our five mining facilities. Besides, the decision to list the token on any particular exchange depends on its administration and internal processes.

24. How much am I going to earn for the entire period?

Your earnings will depend on a variety of factors:

  • The number and type of equipment you are using;
  • The price of the cryptocurrency;
  • Mining difficulty;

To calculate profitability, services like http://whattomine.com may be used. Currently, a service on minery.io automatically calculates the profitability of mining equipment based on the levels of difficulty and the value of currencies is being developed.

25. Is there going to be a token pre-sale? When is it going to take place and on what terms?

MNRY tokens are first going to be offered for purchase during the pre-sale, followed by the main sale. The pre-sale will take place from the 15th of March to the 30th of June 2018. The soft cap during the pre-sale is 10,000 tokens. Anyone buys tokens during the pre-sale will receive a bonus of 20% of their purchase’s value.

26. I would like to invest a substantial sum. Am I going to have any privileges, a right to vote etc.?

Token ownership does not provide any privileges to one token holder over another. In special circumstances, please contact MINERY’s administration using the contact information provided on minery.ru

27. Is it possible to withdraw tokens from your service?

MNRY tokens comply with the ERC-20 standard. However, in order to host your equipment and to rent tokens out, the tokens must be deposited on your account in MNRY’s system. If you deposit them on an external wallet, then token holder fees will no longer apply to your equipment and your renter’s equipment, and your mining equipment will be disconnected.

28. How do you ensure safe token storage?

The MINERY project includes a variety of sophisticated modern systems that seek to prevent the possibility of cyber-attacks, viruses and DDOS attacks. Thus, the security of the network infrastructure, mining equipment, internal systems and external sites is ensured. MINERY’s team contains specialists specialized in digital security who undertake all the necessary measures to minimise potential danger. We also attract external specialists to audit our security.

29. I am afraid of a cyber-attack. How secure is your system and the tokens?

The MINERY project includes a variety of sophisticated modern systems that seek to prevent the possibility of cyber-attacks, viruses and DDOS attacks. Thus, the security of the network infrastructure, mining equipment, internal systems and external sites is ensured. MINERY’s team contains specialists specialized in digital security who undertake all the necessary measures to minimise potential danger. We also attract external specialists to audit our security.

30. What are the minimum and maximum limits on purchases?

The minimum purchase for the Presale is 10,000 MNRY tokens. During the main sale the minimum is 1. There is no maximum purchase limit, although the total token supply is 47.8 million MNRY.

31. How does token ownership work from a legal standpoint?

Blockchain technologies remain a fairly new development for the world and the legal framework around it is next to none. This means, however, that at any time new laws and regulations may come in force, effecting blockchainbased solutions. There is no guarantee that the current version of our smart contract complies with these legislations. The smart contract was not composed in accordance with, and is not subject to, laws or regulations of any jurisdiction which are designed to protect investors. No public body of any jurisdiction has analysed or approved the smart contract for token circulation or any other activity on their respective territory. The existence of the smart contract does not imply its compliance with applicable laws, requirements or regulations. Potential token holders are solely liable for establishing (through their own means, including advice from third-party legal, tax or other professionals) the legality within any given jurisdiction and situation, as well as taking all the necessary measures to comply with regulations and requirements without shifting the liability to MINERY.

32. What happens to my investments if token transactions become legally regulated or banned?

The activity of the MINERY project can be interrupted or suspended due to circumstances brought about by force majeure. These are events of emergency that cannot be predicted, such as natural disaster, war, epidemics, industrial disputes, armed conflicts, mass riots, strikes, long-term electricity shortages or power outages, failures of telecommunications services, actions of local or federal authorities and other circumstances outside of our company’s control. If such events occur before MNR tokens are issued and we cannot issue tokens for 6 months after the announced date, an escrow agent will manage refunds on demand. Funds are returned the same way they were sent. MINERY is not responsible for any possible change in cryptocurrency or any other currency exchange rate, does not compensate losses and does not pay interest for use of funds. Besides, since MINERY mining facilities are located in Russia, token holders seeking to place their equipment must comply with the laws of the Russian Federation. Token holders refusing to comply with the laws of the Russian Federation or facing restrictive measures against activity on the territory of the Russian Federation cannot place their equipment or rent MNRY tokens and other services provided for the token. These holders can either keep or sell their tokens to clients capable of these activities legally within Russia. In case of legal situations imposing restrictions on MINERY activities, the MINERY team will take all the necessary measures required to mitigate or decrease the effect on token holders’ investments. However, generally speaking, investors are responsible for all the risks.

33. How is token holder security ensured?

Concerning external dangers: The MINERY project includes a variety of sophisticated modern systems that seek to prevent the possibility of cyberattacks, viruses and DDOS attacks. Thus, the security of the network infrastructure, mining equipment, internal systems and external sites is ensured. MINERY’s team contains specialists specialized in digital security who undertake all the necessary measures to minimise potential danger. We also attract external specialists to audit our security. Concerning internal dangers: After the mining facilities are commissioned and start their operations from the 10th of October 2018, open days are going to be held for the firm’s clients and anyone else willing to come. Updates regarding the schedule and the formation of groups will be posted on MNRY.io To calculate profitability services like http://whattomine.com may be used, data from which can be compared to your wallet’s earnings.

34. Who is responsible for the distribution of tokens? How quickly am I going to receive tokens after the Token Launch?

MINERY is responsible for token distribution. The tokens will be issued and distributed among all the holders on the 10th of October 2018 at the latest.

35. Do MNRY tokens comply with the ERC-20 standard? Can I transfer them to a third party ETH wallet?

MNRY token is an ERC-20 compliant Ethereum token. ERC-20 tokens can be stored in wallets supporting this standard, therefore MNRY tokens can be transferred to any wallet with ERC-20 support. To place your equipment and rent the tokens out they have to stay on your MINERY account. If you transfer the tokens to a third-party wallet, the special token holder’s fee on the equipment placed at our hosting centers by you or your lessee will no longer stand.

36. How can a miner use MNRY tokens?

MNRY token is a digital asset in the MINERY database that confers the right to place mining equipment at one of MINERY mining facilities for 30 years. One token is equivalent to one watt of power capacity of whatever equipment is placed. Mining equipment that is not backed by a sufficient amount of MNRY tokens both owned or rented, will not be allowed for placement at MINERY mining facilities.

37. What do I actually own when I hold the tokens? A share in the company? A share in power capacity? A share in a particular farm? Or particular equipment?

MNRY token allows to:

  • place your mining equipment for hosting with the lowest price of electricity in the world
  • quickly repair your equipment if it breaks down

One token is equivalent to one watt of power capacity of whatever equipment is placed. You can mine cryptocurrencies yourself or rent your tokens out. Token holders are not entitled to any property rights or a share in the company.

38. How profitable are your tokens?

MINERY does not offer payouts to token holders. However, investors will find MNRY tokens useful in two ways. First, if they decide to take on mining themselves, with our tokens they will be able to take advantage of low electricity rates and beneficial terms of service. Mining is one of the most profitable types of activity nowadays. Second, investors can rent out their tokens at a rate of $0.04 per 1 kWh. With 1 US dollar per token this means a 40% profitability in dollar terms.

39. For how long the MNRY company will exist?

The MINERY project is undertaken at mining facilities in Bratsk, Ust-Ilimsk and Irkutsk. Among the company’s official suppliers and contractors are OOO Bratskaya stroitelno-montajnaya kompaniya (land lease, facility construction) and AO Bratskaya elektrosetevaya kompaniya (power supplier), one of the biggest in Irkutsk oblast. In total the project has planned to build five mining facilities with a combined capacity of 55 MW. The contracts are concluded for 30 years.

40. How often do you make payouts? In what way? What are the fees?

Transfers of mined cryptocurrency and rent for the leased tokens, just like electricity and service charges, and payments for the rented tokens, are made daily. The payments are made to the wallets of token holders, respective of their cryptocurrency holdings. MINERY doesn’t impose any charges for these transfers. However, MINERY can also sell your cryptocurrency on an exchange, with payments being made to you with fiat money. For these transactions, MINERY has extra charges.

41. Can I place my equipment at MINERY without buying tokens?

You can only place your equipment at our mining facilities if you purchase or rent MNRY tokens in the amount sufficient to cover your equipment’s power consumption.

42. Why is everyone talking about the Bitcoin’s hard fork and how will that impact the price of tokens, as well as their profitability?

Bitcoin has already gone through more than a dozen hard forks. Previous examples show that the Bitcoin’s hard forks had either no substantial impact on its price or the price of other tokens, or the prices stabilized quickly.

43. Why don’t you offer your services to direct investors?

MINERY project does not offer ready-to-use servers to its potential customers. Instead, we offer the mining facilities’ space, its infrastructure and electricity supply deals to host our clients’ equipment.

44. Can I receive payments via wire transfer or only in BTC, ETH and LTC?

Transfers of mined cryptocurrency and rent for the leased tokens, just like electricity and service charges, and payments for the rented tokens, are made daily. The payments are made to the wallets of token holders, respective of their cryptocurrency holdings. MINERY doesn’t impose any charges for these transfers. However, MINERY can also sell your cryptocurrency on an exchange, with payments being made to you with fiat money. For these transactions, MINERY has extra charges.

45. Explain the process that would allow MNRY token holders to rent their tokens out. Is it an agreement between a token holder and a miner? Or does MINERY itself take care of finding miners who may be willing to rent tokens?

MNRY token holders who are either not interested in mining themselves or have some extra tokens can use the mnry.io rent module to rent their tokens out. The forecasted fee for renting a token consists of the payment for computing power, which is currently $0.04 per 1 kWh. To find a renter you will need to post your offer, including the number of tokens and the desired fee for the use thereof, in a corresponding section of Your Account. The rent will be transferred to your wallet in Your Account.

46. What is going happen to the company if the PoW (proof-of-work) algorithm becomes obsolete?

Mining is just one out of many potential applications of substantial computing power. Other uses include renting out decentralized power to create programs that require substantial computing powers, such as for artificial intelligence, gamers, virtual reality, science, the government and others. If PoW is no longer needed in mining, we will try to offer a viable alternative to our clients.

47. If I have already installed or I am about to install my miners in MNRY without purchasing tokens, is my contract still going to be valid when you tokenize the farm?

You can only place your equipment at our mining facilities if you purchase or rent MNRY tokens in the amount sufficient to cover your equipment’s power consumption, plus 8% to cover the mining facility infrastructure expenses. Equipment of those who neither have acquired nor rented tokens is not allowed to be installed. Previously installed equipment will be disconnected.

48. Is it possible to transfer tokens directly from one account to another, without the use of exchanges?

The MNRY token is a token that meets the ERC-20 standard. They can be easily exchanged between all wallets supporting the stated format, such as MyEtherWallet and possibly other wallets of Ethereum currencies.

49. I am renting my tokens out to a miner. If I decide to dispose of the tokens, how quickly can I terminate the lease?

The lease agreement period depends entirely on the terms established by the token holder’s lease agreement and is not regulated. After the lease expires, tokens can be used again (rented, sold or utilized for mining).

2. Questions regarding the company and the product

1. Is there any media attention?

All mentions of MINERY project will be displayed at http://mnry.io and on social media.

2. How does MINERY make profit? What is your share?

For every 100 tokens purchased during the sales period, 10 extra tokens will be distributed amongst the MINERY team, while 5 more tokens will be reserved for consultants and partners at the discretion of MINERY. Therefore, for every 100 purchased tokens we will introduce 115 Watts to the mining facility. Selling and renting out tokens belonging to the team is the primary source of the team’s income. There is also extra income from servicing the miners. The company does not make any profit from selling electricity to the miners since the resale of electricity is prohibited by Russian law. The firm will also develop paid services for the miners, such as the sale of equipment, providing broker services on exchanges, legal support and more.

3. How many people are in MINERY team?

There are 30 people in the MINERY team. Moreover, contract-based specialists are being attracted to solve current issues.

4. I have never heard of MINERY. Who are you?

The MINERY project is carried out by MINERY, which carries out the first token sale and provides equipment, a Russian firm OOO Minery Ru, which provides installation and support services for the mining facilities in Bratsk, Irkutsk and Ust-Ilimsk. The project is also serviced by Russian firms OOO Bratskaya Stroitelno-Montazhnaya Kompaniya (construction of facilities) and AO Bratskaya Elektrosetevaya Kompaniya (one of the biggest energy suppliers in Irkutsk region). Overall, within the scope of the project, there are plans to create five mining facilities with the total power of 55 MW.

5. Can you show your contracts with energy suppliers?

You can find the contracts with energy suppliers at http://mnry.io

6. Can you show your land lease contracts?

You can find the land contracts at http://mnry.io

7. What is the size of your current client base?

You can find information about the current size of the client base at http://mnry.io

8. Under whose jurisdiction is your business?

The business is located in the Irkutsk region of the Russian Federation and is fully governed by Russian law.

9. What about security on the premises?

The project stipulates both technical and organizational arrangements to ensure the security of mining facilities. To protect the facilities from unauthorised access there are more than two security perimeters. In the internal perimeter the movement of equipment into and out of the facility will be controlled. Every entrance to the facility, buildings and machine rooms will be monitored, both across the perimeter and between the isles. IP surveillance cameras will be installed, with recordings being stored in a remote storage. Rooms of the mining facilities must be equipped with automatic security alarm for broken windows (if there are any), while doors should have breach sensors connected to the security console.

10. What about insurance? Which risks are insured?

Every MINERY mining facility will be insured. Insurance contracts are made to insure the mining facilities’ property, rented property and mining equipment belonging to clients. There is also insurance against all main catastrophic risks, third parties and employee actions. Moreover, MINERY’s responsibility to the third parties, as well as the employees in the mining facilities, is also insured.

11. What is your energy source? Where is it located, what type of energy is it and why is it so cheap?

MINERY’s aim is to create mining facilities with minimal electricity expenses and with minuscule harm to the environment. This can be achieved by locating the mining facilities near one of the cheapest and most ecologicallyfriendly energy sources, hydroelectric power plants (further referred to as HPP). Not only does this approach reduce the cost of generating electricity, but it also minimizes the transportation costs of electricity to the consumer. The mining facilities will be located in the Irkutsk region because it has one of the lowest electricity rates. Our energy supplier is AO Bratskaya Elektrosetevaya Kompaniya. The proximity of our mining facility to the HPP allows electricity costs to be minimized.

12. What is the difference between your product and Cloud Mining?

Both MINERY and cloud mining solve the same issue of remote mining without any personal involvement of investors. However, this is the only similarity between the two projects. MINERY is completely transparent to investors, since its address, computer power and energy consumption information are publicly available. Moreover, investors place their own equipment in the facility. MINERY’s clients pay extremely small fees for electricity and maintenance: $0.04 kWh and $0.03 kWh, respectively. Furthermore, investors have an option of gaining passive income by renting out their tokens. Cloud mining, on the other hand, wants investors to fully rely on the information provided by the administration. You cannot control any mining parameters.

13. What is the difference between your product and Giga Watt?

Both MINERY and Giga Watt solve the same issue of remote mining without any personal involvement of investors. Both projects are viable because services which allow mining with “someone else’s hands” and low electricity expenses, are extremely rare and consequently in high demand. However, there are some major differences, primary in relation to construction. Giga Watt places its mining equipment in small modules (PODs), while MINERY uses large mining facilities. The benefit of Giga Watt is the easier heat release process while equipment is operational. The benefits of MINERY include less need for space, thus cutting costs related to either purchasing or renting land, and a smaller need for creating long service lines, such as power relays and communication links, which reduce construction expenses. Furthermore, the cold climate of Irkutsk region allows the heat release issue to be solved at a much lower cost.

14. If mining is so profitable why do you need retail clients, given that you could do it yourself?

MINERY’s mining facilities were created to accommodate from 30,000 to 50,000 devices. Both fixed and variable costs of using such a large number of devices greatly exceeds our resources. MINERY was created to provide a service to a pool of miners rather than to mine by ourselves.

15. I mine at home. My household has comparable electricity costs. Why should I use your service?

Without a doubt, by mining at home you will enjoy lower electricity rates and lower operation costs. However, household mining also has a number of drawbacks. Namely, it is extremely noisy, inefficient, requires maintenance costs and increases the risk of fire . Furthermore, power limits will not allow you to expand your business and will also take up your time. Using MINERY’s service will allow you to keep the same benefits, while removing all of the problematic aspects and allowing you to concentrate on growing your business.

16. How can I take advantage of your hosting service right now?

MINERY hosting will begin its operations after the commissioning of the mining facilities and the issue of tokens, which will be after the 10th of October 2018.

17. How can I inspect your facilities?

After the commission of the mining facilities and the beginning of their operation, after the 10th of October 2018, there are going to be regular open days for clients and anyone else willing to come. Updates regarding the schedule and the formation of groups shall be posted at MNRY.io

18. How can I ensure that my equipment is indeed stationed in your facility and earns cryptocurrency? Is there any proof that mining capacity is not washed out against collected funds?

After the commission of the mining facilities and the beginning of their operation, after the 10th of October 2018, there are going to be regular open days for clients and anyone else willing to come. Updates regarding the schedule and the formation of groups shall be posted at MNRY.io. To calculate profitability, services like http://whattomine.com may be used to compare profitability data to your wallet’s earnings.

19. Do you mine only Bitcoins?

MINERY will allow you to mine the most popular and profitable cryptocurrencies such as BTC, ETH, ETC, LTC, DASH, ZCASH and XMR. Depending on your equipment, we can add new cryptocurrencies to the supported list, if there is sufficient demand among our users.

20. What equipment is better to use: ASIC (Application-Specific Integrated Circuit) or GPU? Why?

Each type of equipment has its own individual characteristics. Profitability will depend on a variety of factors, such as the price of a cryptocurrency, mining difficulty and more. To calculate profitability, services like http://whattomine.com may be used. Currently, a service on minery.io automatically calculates the profitability of mining equipment based on the levels of difficulty and the value of currencies is being developed.

21. Facility address

You can find information regarding the locations of facilities at http://mnry.io

22. How do you plan to expand?

As part of the project, we are planning to build five mining facilities with a total power of 55 MW. The facilities will be built in Bratsk, Irkutsk and Ust-Ilimsk.

Construction Schedule

Constructi on site City Groundwor ks Construction of buildings Internal engineering Commis sioning of the building Client’s equipmen t installatio n
Facility 1 Bratsk Complete Complete May-July 2018 August 2018 Septembe r 2018
Facility 2 Irkutsk May-June 2018 July 2018 August 2018 Septem ber 2018 October 2018
Facility 3 Bratsk May-June 2018 July 2018 August 2018 Septem ber 2018 October 2018
Facility 4 Ust- Ilimsk May-June 2018 July 2018 August 2018 Septem ber 2018 October 2018
Facility 5 Bratsk May-June 2018 July 2018 August 2018 Septem ber 2018 October 2018

23. Do you have a service center?

As part of the MINERY project a service center is going to be created near the mining facilities. In the service center, your equipment can be repaired for an extra fee. This will be inexpensive, as the proximity of the mining facility and the service center will ensure time and money will not be wasted on transport. Highly qualified specialists will ensure fast and high quality repairs. The cost of a repair will depend on the type and degree of damage. Another important issue, which is the creation of mining infrastructure, implies the creation of a variety of services provided to the client (increasing the number of supported cryptocurrencies available for mining, purchasing equipment in the facility itself, legal support to clients and the integration into cryptocurrency exchanges) and is one of the MINERY’s primary development aims.

24. Who sets the protocols for Bitcoin mining? Are users going to have a choice or are you going to do it yourself?

Unfortunately, we cannot allow our users full access to their equipment because that would endanger the security of other users. For example, a client may install malware on their equipment, the use of which may damage the system. Even mining equipment may be vulnerable to malware. This is one of the security measures you must comply with. Therefore, all the protocols and mining pools for Bitcoin and other cryptocurrencies are going to be centrally set for all equipment.

25. Which pools do you use?

The exact mining pools are going to be specified closer to the launch of the mining facilities. Currently, we are trying to strike a balance between stability and profitability (i.e. the smallest commission) of the mining pools. We will listen closely to the wishes of our customers and may use polls to choose a mining pool for every cryptocurrency.

26. How are you going to compete with virtually free electricity in China?

The most decisive factor in choosing the location was the combination of low electricity prices and a low average annual temperature. According to the data below, Russia’s conditions are close to the optimum:

COUNTRY Average Electricity Prices $/MWh Average Annual Temperature, degrees Celsius
Argentina 93,5 15,4
Austria 149,0 8,5
Austrlia 129,0 22,5
Canada 61,3 -4,9
China 89,5 7,6
Japan 170,6 11,9
Russia 47,5 -3,7
Sweden 121,5 4,1
Great Britain 164,8 10
USA 107,8 9,3

In China, the average electricity charge is $0,0895 MWh, which is twice as high as our offer. Furthermore, the PRC does not encourage mining. Many mining companies, such as BitMain, have relocated from China to other countries where the government does not oppose their activity and where electricity prices are lower.

27. If I make a request, when are the first payments from mining going to be?

The first revenues from mining are going to come after the commission of the mining facilities and the launch of the mining equipment.

28. Where do you get your equipment? Can I see the model range?

The equipment available for clients to purchase is imported from China. You can learn about the range of available equipment and purchase terms at http://mnry.io

29. Let’s assume that either the internet or electricity was disconnected for a day or a week. Will reimbursements be issued?

The MINERY project provides:

  • Double reservation of power lines;
  • Reservation of internet links from different internet service providers.

Issues with electricity and internet connectivity are beyond the control of the mining facilities, and thus there will be no reimbursement.

3. Referral program questions

1. How can I get my referral link?

To get you referral link you just have to sign up on our ICO website at https://tokensale.mnry.io.

2. How can I get free tokens?

If you believe in our project, you can share it by posting information and promo materials (texts, pictures, messages, advices, opinions) regarding Minery ICO on the web, in social media or in direct communication.

For this, create your account, get confirmation email and follow the confirmation instructions to activate your account. Once you’ve confirmed your account, log into your profile and find your referral link on the Dashboard. If you haven’t received an email confirmation to confirm your account please check your spam mailbox. If you experience any difficulty in setting up your account – write us on Telegram chat and we’ll gladly help.

3. Where can I publish my referral link?

When you join our referral program, you will get your referral link which you can publish on your websites, social media profiles, forums, telegram groups and chats, in tweets and other messengers and platforms. Please do NOT spam your referral link! We kindly ask you to respect privacy of other people and be careful sharing referral links.

4. How does the program work?

1. When a user clicks on your referral link, they will be brought to our ICO website and their activity will be tracked by our affiliate software.
2. If these users register on our website, they will be marked with your affiliate ID.
3. With every amount of funds received from users you’ve brought to Minery page to take part in the Minery ICO period (ends September 30th, 2018) — YOU will receive 3% in MNRY referral bonus tokens. AND the person YOU referred will receive 20% bonus tokens if he completes the transaction until June 30, 2018, 10% bonus tokens if he purchases within July 1 - July 14, 2018, 8% bonus tokens in the period of July 15 - July 28, 2018, 6% in the period of July 29 - August 11, 2018, 4% in the period of August 12 -25, 2018, 2% in August 26 - September 8, 2018, and 0% in the period of September 9 - 30, 2018.

For example, if a user clicks your referral link on May, 12th and participates in the Minery ICO with ETH to get an equivalent amount of 1,000 MNRY, YOU will receive a 30 MNRY commission! And he will receive additional 200 MNRY tokens!

5. How many tokens will be issued with the referral program?

There is no limit on referral tokens.

6. When will I see and get my referral tokens?

You will be able to see your MNRY tokens commission immediately in your personal account. You will receive the MNRY tokens commission at the end of Minery ICO in October 2018, when all tokens will be issued at the end of ICO in October 2018. This is a limited promotion only. Minery reserves the right to cancel this promotion at anytime.

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