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PETA-MINE  operated by cryptx since Aug, 8 2013  

Outstanding Last 24h 24h Avg 24h 24h Vol 7d 7d Avg 7d 30d 30d Avg 30d Tot Vol Mkt Cap Score
2313 73@0.41 -- -- -- -- -- -- -- 0.41 0.44656 0.65 1,939 0 0    (2/2)


Bids   (Log in to trade ...)
2000 Shares, 0.00002 BTC
Quantity Price
2000 0.00000001

Asks   (Log in to trade ...)
13 Shares, 8.84 BTC
Quantity Price
1 0.580000
2 0.630000
10 0.700000


Market Depth

Outstanding Last 24h 24h Avg 24h 24h Vol 7d 7d Avg 7d 30d 30d Avg 30d Tot Vol Mkt Cap Score
2313 73@0.41 -- -- -- -- -- -- -- 0.41 0.44656 0.65 1,939 0 0    (2/2)

CALL Options Available For Purchase
(an option to purchase shares)
Option ID Expiration Qty Strike Premium/ea Cost/ea
None available...

PUT Options Available For Purchase
(an option to sell shares)
Option ID Expiration Qty Strike Premium/ea Proceeds/ea
None available...


Trade History
Date Type Quantity Price Total
2013-10-08 11:52:14 Market Sell 73 ฿ 0.41 ฿ 29.93
2013-10-08 11:51:40 Market Sell 25 ฿ 0.45 ฿ 11.25
2013-10-08 11:51:37 Market Sell 4 ฿ 0.45 ฿ 1.8
2013-10-08 11:51:16 Market Sell 1 ฿ 0.4501 ฿ 0.4501
2013-10-08 11:51:16 Market Sell 9 ฿ 0.4501 ฿ 4.0509
2013-10-07 02:45:53 Market Sell 1 ฿ 0.45 ฿ 0.45
2013-10-06 19:45:09 Market Buy 3 ฿ 0.51 ฿ 1.53
2013-10-06 15:15:54 Market Sell 8 ฿ 0.4625 ฿ 3.7
2013-10-06 00:48:48 Market Sell 28 ฿ 0.45 ฿ 12.6
2013-10-05 23:48:55 Market Sell 26 ฿ 0.45 ฿ 11.7
2013-10-05 20:23:06 Market Sell 10 ฿ 0.45 ฿ 4.5
2013-10-05 20:22:38 Market Sell 33 ฿ 0.451 ฿ 14.883
2013-10-05 19:45:45 Market Sell 50 ฿ 0.45 ฿ 22.5
2013-10-05 19:20:20 Market Sell 9 ฿ 0.45 ฿ 4.05
2013-10-05 18:52:46 Market Sell 5 ฿ 0.45 ฿ 2.25
2013-10-05 18:52:45 Market Sell 5 ฿ 0.45 ฿ 2.25
2013-10-05 18:52:24 Market Sell 31 ฿ 0.455 ฿ 14.105
2013-10-05 08:31:19 Market Buy 7 ฿ 0.5 ฿ 3.5
2013-10-04 22:12:30 Market Buy 3 ฿ 0.5 ฿ 1.5
2013-10-03 23:58:23 Market Sell 4 ฿ 0.65 ฿ 2.6


Dividend History
Date Total BTC Shares BTC/Share Status



PETA-MINE listing moves to Cryptostocks.com Posted: 7 years ago

Dear Shareholder,

 

We are pleased to announce the continuation of our asset PETA-MINE on www.cryptostocks.com.

For swift transfer of your shares to cryptostocks.com, create an account on cryptostocks with the same e-mail address you used on btct.co. We will transfer your shares to your new account. Please inform us by e-mail (info@cryptx.com) when your account is created so we can transfer your shares.

You will receive 10 times the amount of shares you owned at btct.co as we initiated a 1 for 10 share split.

Each share represents 1 GH/s of hashing power. CryptX has invested in 20 TH/s of hashing power, all mining revenue from this additional 20 TH/s will go to public shareholders until the initial investment of 0.065 BTC/share is recovered in dividends.

A first dividend of 300 BTC will be paid on 18 October 2013.

 

Regards,

CryptX

 


CRYPTX BUYS DATACENTER Posted: 7 years ago

CRYPTX BUYS DATACENTER

September 9, 2013 – Brussels – CryptX, a company which specializes in Bitcoin mining, is pleased to announce the purchase of its own datacenter.

The datacenter has an initial power capacity to host 300 TH/s of Bitcoin mining equipment. The capacity can be expanded if necessary. The electricity costs can be kept at a minimum due to our on-site solar plant of 350,000 Watt. The first deployment of 20 TH/s at the end of September has a monthly total cost, including electricity, maintenance and hosting, of maximum 5,000$.

The purchase of the datacenter is the second milestone in the development of the PETA-MINE. This enables CryptX to run the mine very cost efficient. 


PETA-MINE MOTION Posted: 7 years ago

Dear Shareholder,

 

We have filed an official motion on https://btct.co/security/PETA-MINE about the changes we want to make to the initial contract.

You can see the difference between the old and the new contract here http://www.diffchecker.com/j0dofqjs

Vote YES if you approve with the new contract details, vote NO if you want to keep the initial contract.

 

We thank you for your trust in the PETA-MINE project, feel free to contact us if you have further remarks or questions.

 

Best regards,

CryptX

 


Motion posted on PETA-MINE: Contract update Posted: 7 years ago
A new motion has been posted on PETA-MINE at: https://btct.co/security/PETA-MINE You should probably check it out. Don't waste your vote!

CRYPTX EXPANDS BITFURY CHIP DEAL Posted: 7 years ago

September 5, 2013 – Brussels – CryptX, a company which specializes in Bitcoin mining, is pleased to announce it has secured a new purchase contract with Punin Design.

The purchase agreement has expanded to the delivery of 18,000 Bitfury chips (about 54 TH/s). Even more important is the early delivery date of 20 September 2013 for all chips. We will pick up the chips in Finland in person. This date will give CryptX an important lead start.

The agreement is a first milestone in the development of the PETA-MINE. The chips will be used in a first stage deployment of 20 TH/s.


CRYPTX EXPANDS BITFURY CHIP DEAL Posted: 7 years ago

September 4, 2013 – Brussels – CryptX, a company which specializes in Bitcoin mining, is pleased to announce it has secured a new purchase contract with Punin Design.

The purchase agreement has expanded to the delivery of 18,000 Bitfury chips (about 54 TH/s). Even more important is the early delivery date of 20 September 2013 for all chips. We will pick up the chips in Finland in person. This date will give CryptX an important lead start.

The agreement is a first milestone in the development of the PETA-MINE. The chips will be used in a first stage deployment of 20 TH/s.

ABOUT PETA-MINE:

The PETA-MINE is a hosted mining project developed by CryptX. The net revenue of the mine will be divided among the shareholders. The start of deployment is scheduled as early as the end of September. Shares of the PETA-MINE can be found on www.btct.co

ABOUT CRYPTX:

CryptX is a Belgian company with their headquarters in Brussels. CryptX is a provider of cloudhashing for Bitcoin. Their goal is to provide the opportunity for anyone to be part of the Bitcoin mining business. It will realize this vision by deploying a Bitcoin mining operation, PETA-MINE and by rewarding shareholders through the payment of a weekly dividend.


PETA-MINE STARTS WITH DEPLOYMENT OF 20 TH/S AT END OF SEPTEMBER Posted: 7 years ago

August 31, 2013 – Brussels – CryptX is pleased to announce the deployment of 20 TerraHash as early as end September (BitFury chips). The net mining revenue of this 20 TH/s will be divided over the shareholders until their total investment is recovered.

CryptX will also limit the sale of shares to a maximum of 10,000. This means that no more than 10,000 shares will be sold and mining revenue will be divided over those shares. Shares will be sold in batches of 2,000 shares each, starting at 0.65BTC. Price with each new batch will increase with 0.01BTC.

As stated in the initial shareholder agreement, for each share sold, 10 GH/s of hashpower, based on CoinTerra systems, will also be deployed in December, this equals to an additional 100 TerraHash by December for 10,000 shares.


Updated IPO Details Posted: 7 years ago

We received some valuable feedback and updated our IPO details with the following:

For every share sold, CryptX will invest in an additional 20% of hashpower. All mining revenue from this additional 20% will go to public shareholders until the initial investment of 0.65BTC/share is recovered in dividends.

 


PETA-MINE: Motion YES: 1768 - NO: 6 - ABSTAIN: 0 - OUTSTANDING: 2300 (1768/2300 = 76.9% Approval)
Title Contract update
Voting Dates Begins: 2013-09-07 22:45:00 (BST)    Ends: 2013-09-14 22:46:00 (BST)
Motion

Vote YES if you approve with the new contract details below, vote NO if you want to keep the initial contract.

CryptX Business Goals

CryptX’s primary goal is to provide opportunities for the public to invest in the Bitcoin mining business. The company will do this by offering shares of a PETA-MINE, a hosted mining project with an initial maximum capacity of 1,000,000 GH/s of hashing power.

CryptX hereby offers an asset (its PETA-MINE) for shares in the profit of the company’s operation. CryptX will offer a maximum of 100,000 shares, where every share represents 10 GH/s of hashing power.

For every share sold, CryptX will invest in an additional 20% hashpower, with a minimum of 20 TH/s, which will be deployed as early as the end of September. All mining revenue from this additional 20% will go to public shareholders until 0.65 BTC/share is recovered in dividends.

The PETA-MINE’s hashing power will represent a percentage of the total hashing power of the entire Bitcoin network. This percentage will decrease whenever the hashing power of the network increases. To mitigate this issue, CryptX will reinvest 35% of the mine’s net revenue in additional hashing power. This means that as the PETA-MINE continues to grow, each share will, in turn, represent more hashing power. 65% of the net revenue will be paid to shareholders through a weekly dividend.

Deployment of the PETA-MINE will start at the end of September 2013.

Shareholder Information

CryptX will issue a maximum of 100,000 non-dilutable PETA-MINE shares at IPO. Each share represents at least 10 GH/s of the total hash power of the PETA-MINE, and shareholders will receive a weekly dividend payment every Friday.

For every share sold, CryptX will invest in an additional 20% hashpower, with a minimum of 20 TH/s, which will be deployed as early as the end of September. All net mining revenue from this additional 20% will go to public shareholders until the initial investment of 0.65 BTC/share is recovered in dividends.

All shares are entitled to an equal percentage of dividends and all shares sold in the IPO are considered voting shares. No shares beyond these 100,000 will ever be sold or created in the future, so shares can never be diluted.

CryptX will issue shares in batches of 10,000 with a maximum of 100,000 shares. Each batch of 10,000 shares will be divided in blocks of 2,000 shares. The first block of 2,000 shares starts at 0.65 BTC. Price with each new block will increase with 0.01 BTC.

Shareholder Protection

After 27 September 2013, we won't issue new batches of 10,000 shares. The IPO will continue to run until the last issued batch of 10,000 shares is sold. For example if 6,000 shares are sold on 27 September, a maximum of 10,000 shares will be issued. For example if 15,000 shares are sold on 27 September, a maximum of 20,000 shares will be issued.

CryptX will regularly update all relevant information about the PETA-MINE so shareholders can evaluate the performance, capital outlay, and future of the project. It will make this information available through a regular shareholder newsletter, periodic updates to its website (cryptx.com), and a forum it will create on bitcointalk.org dedicated exclusively to CryptX news.

CryptX will pay weekly dividends to shareholders amounting to a percentage share of ownership in the PETA-MINE. CryptX will not change the direction or goal of the PETA-MINE without shareholder votes as per the statutes of BTC-TC.

PETA-MINE Deployment Date

First deployment is scheduled for the end of September 2013. The CryptX management team is well aware of the importance of timing the mine’s deployment. It is also aware of the very poor track record of meeting time schedules in the Bitcoin mining space and recognize that potential sources of such delays include chip failure, PCB failure, or chip delivery problems. CryptX will protect PETA-MINE shareholders against such delays by adding 20% additional hash power for each 30 days the company exceeds its target deployment date.

For example, if CryptX ultimately deploys the mine after mid-January, 2014, an additional 20% of power will be added to the PETA-MINE completely free of charge to shareholders, and each share will be entitled to 12 GH/s of hash power. If the company starts deployment after mid-February, 2014, it will add an additional 20% on top of the previous 20%. In that case, each share would be entitled to 14.4 GH/s of hash power.

Dividends

Dividends will automatically appear in shareholders’ Bitcoin wallets every Friday around 15:00 GMT.  Dividends will consist of 65% of PETA-MINE net revenue for the week. Net revenue is defined as the total of all Bitcoins mined minus electricity, hosting, and mine maintenance costs.

The percentage of the net revenue paid in dividends can change if shareholders vote to change it. Such action will only occur if the state of the Bitcoin mining space demands it.

Reinvestment

Every week, CryptX will reserve for reinvestment purposes a percentage of earned Bitcoins equal to 35% of net revenue. These investments will allow CryptX to produce and deploy additional hardware. Time of deployment for this additional hardware will be in the best interest of shareholders.

Because of the unique partnership between CryptX and Cointerra, a world-class semiconductor engineering company, future investments in the PETA-MINE will occur at the most competitive prices. CryptX will also have first access to future chip designs direct from Cointerra.

While the reinvestment percentage is subject to change via shareholder vote, such action will only occur if the state of the Bitcoin mining space demands it.

Terms and Conditions

Each share represents minimum 10 GH/s of PETA-MINE net revenue. Net revenue, once again, is defined as Bitcoins earned by the mine minus electricity, hosting, and maintenance costs. 65% of net revenue will be paid in dividends every Friday around 15:00 GMT. CryptX will then reinvest 35% of net revenue in additional mining capacity. Every shareholder is also entitled to his or her share of net revenue from hashing power reinvestments. The 65%/35% distribution rule will also apply to hardware acquired through reinvestment.

The shares have voting power. Shares of PETA-MINE on BTC-TC do not represent real world shares of CryptX. The shares are solely a distribution mechanism for rights to profits from the PETA-MINE. Profit distribution will not be dependent on BTC-TC existence; in the event BTC-TC closes down, the equity will be moved to another trading platform. If no adequate platform exists, CryptX will manually transfer payouts to shareholders’ Bitcoin addresses.

The issuer has no right to release additional shares at any time or for any price. Thanks to this limitation, the value of initial shareholders’ shares is non-dilutable. The issuer does, however, have the right to change the price and/or quantity of any scheduled sale batches of shares.


Contract & Prospectus
Ticker REVENUE SHARE: PETA-MINE
Moderator Score 0  (2/2)
Moderator Votes YES 2 / 1 NO    (0 ABSTAINING -- Users with 10 or more shares of LTC-GLOBAL are allowed to vote.)

strongbow voted YES with comment: Good to see some additional liquidity and diversification in the Bitcoin mining space.
BTCTRADINGPT voted NO with comment: BTC-Trading-PT shareholders voted 290-65 to not approve.
Shares Outstanding 2313 / 100000 Issued
Issuer cryptx <petamine@cryptx.com>
Website http://www.cryptx.com
Forum https://bitcointalk.org/index.php?topic=280570.0
Issuer Detail

CryptX Limited
Brussels, Belgium
VAT BE 0536.896.285

www.cryptx.com
info@cryptx.com

Represented by

CEO/CFO Bert Valkenborgs

CTO Joeri Cornelissens

Contract

CryptX Business Goals

CryptX’s primary goal is to provide opportunities for the public to invest in the Bitcoin mining business. The company will do this by offering shares of a PETA-MINE, a hosted mining project with an initial maximum capacity of 1,000,000 GH/s of hashing power.

CryptX hereby offers an asset (its PETA-MINE) for shares in the profit of the company’s operation. CryptX will offer a maximum of 100,000 shares, where every share represents 10 GH/s of hashing power.

For every share sold, CryptX will invest in an additional 20% hashpower, with a minimum of 20 TH/s, which will be deployed as early as the end of September. All mining revenue from this additional 20% will go to public shareholders until 0.65 BTC/share is recovered in dividends.

The PETA-MINE’s hashing power will represent a percentage of the total hashing power of the entire Bitcoin network. This percentage will decrease whenever the hashing power of the network increases. To mitigate this issue, CryptX will reinvest 35% of the mine’s net revenue in additional hashing power. This means that as the PETA-MINE continues to grow, each share will, in turn, represent more hashing power. 65% of the net revenue will be paid to shareholders through a weekly dividend.

Deployment of the PETA-MINE will start at the end of September 2013.

Shareholder Information

CryptX will issue a maximum of 100,000 non-dilutable PETA-MINE shares at IPO. Each share represents at least 10 GH/s of the total hash power of the PETA-MINE, and shareholders will receive a weekly dividend payment every Friday.

For every share sold, CryptX will invest in an additional 20% hashpower, with a minimum of 20 TH/s, which will be deployed as early as the end of September. All net mining revenue from this additional 20% will go to public shareholders until the initial investment of 0.65 BTC/share is recovered in dividends.

All shares are entitled to an equal percentage of dividends and all shares sold in the IPO are considered voting shares. No shares beyond these 100,000 will ever be sold or created in the future, so shares can never be diluted.

CryptX will issue shares in batches of 10,000 with a maximum of 100,000 shares. Each batch of 10,000 shares will be divided in blocks of 2,000 shares. The first block of 2,000 shares starts at 0.65 BTC. Price with each new block will increase with 0.01 BTC.

Shareholder Protection

After 27 September 2013, we won't issue new batches of 10,000 shares. The IPO will continue to run until the last issued batch of 10,000 shares is sold. For example if 6,000 shares are sold on 27 September, a maximum of 10,000 shares will be issued. For example if 15,000 shares are sold on 27 September, a maximum of 20,000 shares will be issued.

CryptX will regularly update all relevant information about the PETA-MINE so shareholders can evaluate the performance, capital outlay, and future of the project. It will make this information available through a regular shareholder newsletter, periodic updates to its website (cryptx.com), and a forum it will create on bitcointalk.org dedicated exclusively to CryptX news.

CryptX will pay weekly dividends to shareholders amounting to a percentage share of ownership in the PETA-MINE. CryptX will not change the direction or goal of the PETA-MINE without shareholder votes as per the statutes of BTC-TC.

PETA-MINE Deployment Date

First deployment is scheduled for the end of September 2013. The CryptX management team is well aware of the importance of timing the mine’s deployment. It is also aware of the very poor track record of meeting time schedules in the Bitcoin mining space and recognize that potential sources of such delays include chip failure, PCB failure, or chip delivery problems. CryptX will protect PETA-MINE shareholders against such delays by adding 20% additional hash power for each 30 days the company exceeds its target deployment date.

For example, if CryptX ultimately deploys the mine after mid-January, 2014, an additional 20% of power will be added to the PETA-MINE completely free of charge to shareholders, and each share will be entitled to 12 GH/s of hash power. If the company starts deployment after mid-February, 2014, it will add an additional 20% on top of the previous 20%. In that case, each share would be entitled to 14.4 GH/s of hash power.

Dividends

Dividends will automatically appear in shareholders’ Bitcoin wallets every Friday around 15:00 GMT.  Dividends will consist of 65% of PETA-MINE net revenue for the week. Net revenue is defined as the total of all Bitcoins mined minus electricity, hosting, and mine maintenance costs.

The percentage of the net revenue paid in dividends can change if shareholders vote to change it. Such action will only occur if the state of the Bitcoin mining space demands it.

Reinvestment

Every week, CryptX will reserve for reinvestment purposes a percentage of earned Bitcoins equal to 35% of net revenue. These investments will allow CryptX to produce and deploy additional hardware. Time of deployment for this additional hardware will be in the best interest of shareholders.

Because of the unique partnership between CryptX and Cointerra, a world-class semiconductor engineering company, future investments in the PETA-MINE will occur at the most competitive prices. CryptX will also have first access to future chip designs direct from Cointerra.

While the reinvestment percentage is subject to change via shareholder vote, such action will only occur if the state of the Bitcoin mining space demands it.

Terms and Conditions

Each share represents minimum 10 GH/s of PETA-MINE net revenue. Net revenue, once again, is defined as Bitcoins earned by the mine minus electricity, hosting, and maintenance costs. 65% of net revenue will be paid in dividends every Friday around 15:00 GMT. CryptX will then reinvest 35% of net revenue in additional mining capacity. Every shareholder is also entitled to his or her share of net revenue from hashing power reinvestments. The 65%/35% distribution rule will also apply to hardware acquired through reinvestment.

The shares have voting power. Shares of PETA-MINE on BTC-TC do not represent real world shares of CryptX. The shares are solely a distribution mechanism for rights to profits from the PETA-MINE. Profit distribution will not be dependent on BTC-TC existence; in the event BTC-TC closes down, the equity will be moved to another trading platform. If no adequate platform exists, CryptX will manually transfer payouts to shareholders’ Bitcoin addresses.

The issuer has no right to release additional shares at any time or for any price. Thanks to this limitation, the value of initial shareholders’ shares is non-dilutable. The issuer does, however, have the right to change the price and/or quantity of any scheduled sale batches of shares.

 

 

Below is the OLD NO LONGER VALID CONTRACT

CryptX Business Goals

CryptX’s primary goal is to provide opportunities for the public to invest in the Bitcoin mining business. The company will do this by offering shares of a PETA-MINE, a hosted mining project with a capacity of 1,000,000 GH/s of hashing power.

CryptX hereby offers an asset (its PETA-MINE) for shares in the profit of the company’s operation. CryptX will offer 100,000 shares, where every share represents 10 GH/s of hashing power.

The PETA-MINE’s hashing power will represent a percentage of the total hashing power of the entire Bitcoin network. This percentage will decrease whenever the hashing power of the network increases. To mitigate this issue, CryptX will reinvest 35% of the mine’s net revenue in additional hashing power. This means that as the PETA-MINE continues to grow, each share will, in turn, represent more hashing power. 65% of the net revenue will be paid to shareholders through a weekly dividend.

Deployment of the PETA-MINE will occur mid December, 2013.

Shareholder Information

CryptX will issue 83,333 out of 100,000 non-dilutable PETA-MINE shares at IPO. Each share represents 1/100,000 of the total hash power of the PETA-MINE, and shareholders will receive a weekly dividend payment every Friday. The PETA-MINE will deploy with a capacity of 1,000,000 GH/s where one share represents 1 GH/s in hashing power.

The company will issue shares in two batches:

  1. The first batch will consist of 50,000 shares. CryptX will sell these shares through BTC-TC at a fixed price of 0.65 BTC per share. The sale of the first batch will close when all shares are sold.
  2. The second batch will consist of the remaining 33,333 shares and will sell at a fixed price of 0.7 BTC per share. The sale of the second batch will close when all shares are sold.

All shares are entitled to an equal percentage of dividends and all shares sold in the IPO are considered voting shares. A total of 83,333 out of 100,000 shares will sell at IPO. No shares beyond these 100,000 will ever be sold or created in the future, so shares can never be diluted.

For every share sold, CryptX will invest in an additional 20% hashpower. All mining revenue from this additional 20% will go to public shareholders until the initial investment of 0.65BTC/share is recovered in dividends.

Shareholder Protection

The IPO will prove successful with the sale of at least 30,000 shares. If fewer than 30,000 shares sell within 30 days, CryptX will refund the entire IPO to shareholders. What’s more, the fact that no shares beyond those offered at IPO will ever be issued means shareholders need not fear dilution of the value of their shares.

CryptX will invest in an additional 20% hashpower for every share sold. All mining revenue from this additional 20% will go to public shareholders until the initial investment of 0.65BTC/share is recovered in dividends.

CryptX will regularly update all relevant information about the PETA-MINE so that shareholders can evaluate the performance, capital outlay, and future of the project. It will make this information available through a regular shareholder newsletter, periodic updates to its website (cryptx.com), and a forum it will create on bitcointalk.org dedicated exclusively to CryptX news.

CryptX will pay weekly dividends to shareholders amounting to a percentage share of ownership in the PETA-MINE. CryptX will not change the direction or goal of the PETA-MINE without shareholder votes as per the statutes of BTC-TC.

PETA-MINE Deployment Date

PETA-MINE deployment is scheduled for mid December, 2013. The CryptX management team is well aware of the importance of timing the mine’s deployment. It is also aware of the very poor track record of meeting time schedules in the Bitcoin mining space and recognize that potential sources of such delays include chip failure, PCB failure, or chip delivery problems. CryptX will protect PETA-MINE shareholders against such delays by adding 20% additional hash power for each 30 days the company exceeds its target deployment date.

For example, if CryptX ultimately deploys the mine after mid January, 2014, an additional 200 TH/s of power will be added to the PETA-MINE completely free of charge to shareholders, and each share will be entitled to 12 GH/s of hash power. If the company starts deployment after February 15, 2014, it will add an additional 20% on top of the previous 20%. In that case, each share would be entitled to 14.4 GH/s of hash power.

Dividends

Dividends will automatically appear in shareholders’ Bitcoin wallets every Friday around 15:00 GMT.  Dividends will consist of 65% of PETA-MINE net revenue for the week. Net revenue is defined as the total of all Bitcoins mined minus electricity, hosting, and mine maintenance costs.

The percentage of the net revenue paid in dividends can change if shareholders vote to change it. Such action will only occur if the state of the Bitcoin mining space demands it.

Reinvestment

Every week, CryptX will reserve for reinvestment purposes a percentage of earned Bitcoins equal to 35% of net revenue. These investments will allow CryptX to produce and deploy additional hardware. Time of deployment for this additional hardware will be in the best interest of shareholders.

Because of the unique partnership between CryptX and Cointerra, a world-class semiconductor engineering company, future investments in the PETA-MINE will occur at the most competitive prices. CryptX will also have first access to future chip designs direct from Cointerra.

While the reinvestment percentage is subject to change via shareholder vote, such action will only occur if the state of the Bitcoin mining space demands it.

Terms and Conditions

Each share represents 1/100,000 of PETA-MINE net revenue. Net revenue, once again, is defined as Bitcoins earned by the mine minus electricity, hosting, and maintenance costs. 65% of net revenue will be paid in dividends every Friday around 15:00 GMT. CryptX will then reinvest 35% of net revenue in additional mining capacity. Every shareholder is also entitled to his or her share of net revenue from hashing power reinvestments. The 65%/35% distribution rule will also apply to hardware acquired through reinvestment.

The shares have no voting power. Shares of PETA-MINE on BTC-TC do not represent real world shares of CryptX. The shares are solely a distribution mechanism for rights to profits from the PETA-MINE. Profit distribution will not be dependent on BTC-TC existence; in the event BTC-TC closes down, the equity will be moved to another trading platform. If no adequate platform exists, CryptX will manually transfer payouts to shareholders’ Bitcoin addresses.

The issuer has no right to release additional shares at any time or for any price. Thanks to this limitation, the value of initial shareholders’ shares is non-dilutable. The issuer does, however, have the right to change the price and/or quantity of any scheduled sale batches of shares.

 

Executive Summary

CryptX was founded by Bert Valkenborgs and Joeri Cornelissens. Its mission is to provide the public with investment opportunities in a Bitcoin mining operation without the hefty cost and effort required to maintain physical mining hardware.

CryptX will offer this opportunity by creating a PETA-MINE with 1,000 TH/s of hashing power. The core hardware for the mine will be a 28nm chip from Cointerra. These chips have outstanding specifications when it comes to power consumption and hashing power, which, in turn, means CryptX will be able to keep power and hosting costs at a minimum. What’s more, the hashing power of the Cointerra 28nm chip is +500 GH/s, which means CryptX will be able to deploy the PETA-MINE quickly and efficiently.  This strategic partnership with Cointerra means CryptX will have access to future chip developments at the most competitive rates on the market.

The PETA-MINE will grow continuously as CryptX reinvests 35% of net mining revenue in expandable hashing power to cope with increasing network difficulty. The mine will be hosted in Europe. Due to security concerns, its precise location will not be disclosed.

Business Description

About CryptX

Founded in April 2013, CryptX is a limited company located in Brussels, Belgium. CryptX operates in the Bitcoin space and is developing and manufacturing Bitcoin mining hardware that will be used to deploy the PETA-MINE. The company is offering shares of the PETA-MINE’s mining revenue to investors.

CryptX’s principals, Bert Valkenborgs and Joeri Cornelissens, boast extensive experience in IT, business, and finance. They are also seed investors in Cointerra, a company that manufactures chips for Bitcoin hardware. More information is available at cryptx.com.

Bert Valkenborgs, CEO and CFO

After obtaining a university degree in economics, Bert Valkenborgs spent 15 years in financial and management positions. Prior to CryptX, he founded various companies in the renewable energy, electric vehicles, and real estate spaces. He is an expert in finance, international business, and tax planning. At CryptX, Bert will oversee all aspects of the company’s administration and financial management as well as forge strategic partnerships with other organizations. Bert is a person of great integrity, and it shows in his approach to business.

Joeri Cornelissens, CTO

Joeri Cornelissens began his career as a web development engineer for VA Linux in 2000. In 2003, he founded his own web development and consulting agency with a focus on providing IT solutions and expertise based on open source technologies. As CryptX CTO, Joeri brings extensive experience in web development, hosting, and datacenters; this experience will serve the company well as he creates a scalable and efficient mining operation backed by a talented team of system & development engineers.

Company Vision

The CryptX vision is to become a major player in the hosted Bitcoin mining space. It will realize this vision by deploying the most powerful Bitcoin mining operation in terms of hash power and by rewarding shareholders through the payment of a weekly dividend. CryptX will do everything in its power to continuously strengthen the PETA-MINE valuation.

Business Objectives

CryptX will maintain a competitive advantage by reinvesting a percentage of all PETA-MINE net revenue. In addition, the company will keep hardware costs low through continuous development of all components and designs. Through strategic partnerships with Burnin Electronics, a German PCB design company, and Cointerra, CryptX will always have access to latest generation hardware.

Contracts

CryptX has a contract with Cointerra to purchase 1,000,000 GH/s of that company’s 28nm chips. The chips will come from the first production batch, which will be tested on site and shipped directly to our PCB/board manufacturer in Europe. This arrangement lets us keep the time between chip production and boards deployment to an absolute minimum.


Thanks to our contract with Burnin Electronics, a PCB/board will be developed using Cointerra’s board reference design before the chips arrive in Europe. This way production can start immediately upon arrival of the chips.

CryptX has already made arrangements for hosting space, so immediate deployment of the PETA-MINE is possible.

Definition of the Market

CryptX operates in the Bitcoin mining market. With the PETA-MINE, CryptX provides a hosted Bitcoin mining service to shareholders. General information about Bitcoin mining can be found at bitcoinmining.com.

This market comes with significant risk as many success-related factors are time-to-market-based and depend on a multitude of circumstances including, but not limited to: chip quality, chip delivery time, PCB manufacturing, schematics, functionality, and software.

CryptX distinguishes itself from competitors by its ability to access state-of-the-art hardware. The PETA-MINE will use Cointerra’s chip design, which has the best specifications on the market. 

Products and Services

Due to its privileged access to hardware from manufacturers like Cointerra and Burnin Electronics and its strategic partnerships with those hardware producers, CryptX should enjoy a significant competitive edge in the Bitcoin mining space within a very short period of time.

CryptX will provide the following services to shareholders:

  • A hosted Bitcoin mine with a capacity of 1,000 TH/s: This mine will earn Bitcoins. The company will pay 65% of net Bitcoin revenue to shareholders in the form of a dividend.
  • Regular expansion of the PETA-MINE: 35% of net Bitcoin revenue will be reserved to deploy additional TH/s.
  • Hardware sales: CryptX will distribute net revenue from any sales to shareholders and reinvest in new equipment at the same 65%/35% distribution. The company will also replace its mining blades with more efficient ones if necessary.
  • Mine ownership: The shareholders are 100% owners of the PETA-MINE; ownership includes the hardware.
Organization and Management

Company Organization

CryptX is a registered BVBA (limited company) in Belgium. The company consists of two principals, CEO/CFO Bert Valkenborgs and CTO Joeri Cornelissens. In addition to the management team, ancillary support comes from:

  • Specialists in ASIC development
  • Specialists in PCB design
  • Web development and hosting professionals
  • Marketing, copywriting, and web design advisors
  • Experienced legal counsel

The company will also seek input and advice from shareholders as it recognizes that vast knowledge and technical expertise exist within the Bitcoin community.

Company Partnerships

CryptX has a partnership with Cointerra, which designs and produces latest generation ASIC processors and systems.

CryptX also maintains a partnership with Burnin Electronics, a PCB designer with broad appeal within the Bitcoin community thanks to its previous Bitcoin projects.

Marketing Strategy

While investment in the PETA-MINE is open to the public, the majority of CryptX investors – and, thus, the company’s target audience – will be active Bitcoin community members. The company will promote the PETA-MINE through the world’s largest Bitcoin-focused forum: bitcointalk.org. This will be the primary marketing channel.

CryptX will launch the PETA-MINE IPO on BTC-TC, which will give the company significant exposure to shareholders of other equities on BTC-TC. Additional information about the PETA-MINE project will be available on cryptx.com and through press releases the company will publish on well-known Bitcoin news sites like Coindesk, the Genesis Block, Bitcoinmagazine, Decentralized Hashing, and others.

Located in Europe, the PETA-MINE is currently the company’s only project. Pricing will be per share, and all purchasers (shareholders) will become owners of the PETA-MINE.

Financial Management

Shareholders will actively participate in financial management of the PETA-MINE by sharing all electricity, hosting, maintenance, and hardware costs as well as all profits, which include mining revenue, transaction fees, and hardware sales.

Mining revenue from the PETA-MINE depends on the total hashrate of the Bitcoin network at the time of deployment. For example, if CryptX launched the mine today, the company would own more than 70% of the network. This percentage will drop with increasing difficulty.

Mining revenue from the PETA-MINE depends on the total hashrate of the Bitcoin network at the time of deployment. For example, if CryptX launched the mine today, the company would own more than 70% of the network. This percentage will drop with increasing difficulty.

The rise in difficulty depends on many subjective factors. CryptX therefore recommends performing thorough due diligence to adequately estimate the future increase in total hashrate.

You can find a revenue forecast here*:

https://docs.google.com/spreadsheet/ccc?key=0AjI5bgsiFJAidHNCdDBqOTV2Zmt6ZW9PbWdvZDV1M3c#gid=0


* Please note that this scenario is just an example and does not represent the future or actual profits. These figures do not include the electricity, hosting and maintenance costs.

At deployment of the mining operation, CryptX will pay 65% of net revenue to shareholders as a weekly dividend; the remaining 35% will be reinvested in the mining operation. This rule will also apply to hardware acquired through reinvestment. Net revenue is defined as Bitcoins earned by the mine minus electricity, hosting, and maintenance costs. CryptX will not deduct any management fee from this revenue.

The shareholders are 100% owners of the PETA-MINE. They are also the beneficiaries of any hardware sale.


ʡ = Recent Notification or Pending Motion, ʬ = Recent Contract or Prospectus Change