Join Our Mailing List
Tuesday March 21, 2023
Bitcoin (BTC) $28,133.54   Ethereum (ETH) $1,762.89
  • Events
  • News
    • Blockchain Technology
    • Capital Raising
    • Crypto Exchanges
    • Crypto Payments
    • Gaming & Betting
    • Investment Management
    • M&A
    • Mining
    • Networks & Protocols
    • Security
    • Vendor Technology
    • Wallets
Trezor Model T
CryptoNinjas
  • Crypto & Blockchain Links
  • Real-Time Market Data
  • Bitcoin ATM Map
  • Token Offerings/Listings
No Result
View All Result
CryptoNinjas
Home Capital Raising

Golden Fleece Project ready to expand ambitous altcoin mining ecosystem

Published by CryptoNinjas.net
08/08/2017

Golden Fleece Project, an ambitious altcoin and cryptocurrency mining operation is ready to initiate the first stage of its GFL ICO set to begin on August 15th. The team recently finished their pre-sale which ended on July 30th.

Golden Fleece plans to expand and build up a cryptocurrency mining data center on the Black Sea coast in Georgia, a country at the intersection of Europe and Asia. Getting an LLC in Georgia is a good idea when starting a business.

Why Georgia?

Simply put, Georgian legislation is supportive of cryptocurrency. One of the top Georgian banks, Liberty Bank is trading bitcoin and litecoin. Moreover, Bitfury, a leading blockchain technology company recently partnered with Georgia’s National Agency of Public Registry (NAPR) to put their data on the blockchain.

Other benefits of Georgia for mining

  • 0.5 – 0.6 cents per kW/h for wholesale mining.
  • 80%+ of electricity is produced from hydropower plants.
  • BitFury has also invested in mining centers in Georgia.

In speaking with the team, they are currently in the process of getting their smart contract deployed. With the funds received from ICO stages, Golden Fleece plans on growing and developing its mining rigs and facility.

Highlights of the Golden Fleece Project development plan

  • Expand mining to western Georgia where the majority of electricity production in the country is located.
  • $50 million USD investment plan.
  • 5,000 square meters of allocated space for the data center.
  • 20-megawatt consumption of electricity supporting various mining equipment for a number of cryptocurrencies.

For diversification purposes, Golden Fleece is planning to use different types of mining equipment for the numerous cryptocurrencies it will mine. Ethereum and other GPU-compatible altcoins will have the largest share in the facility, however, the company said they also plan to install a small amount of ASIC miners.

Golden Fleece reports having already put a pilot mining facility into production with more than $200,000 USD invested. The team also reported they’ve completed negotiations with energy sector partners which will construct a combined hybrid wind and solar power plant on an adjacent territory to supply more than 50% of the data center’s energy needs.

Golden Fleece Tokens

There are 100 million Golden Fleece (GFL) tokens issued in total. Only 71 million will be available during the ICO stage(s).

Tokens will be sold in 3 stages:

1) Pre-ICO sale: July 14 – 30 / 1 million tokens available (now finished)
2) ICO 1st stage: August 15-30 / 30 million tokens available
3) ICO 2nd stage: September 15-30 / 40 million tokens available

*1 ETH = 1000 GFL tokens
*1 BTC = 13 500 GFL tokens
*8 million tokens will be distributed and sold from the ICO campaign for up to 10 large partner investors for 0.5 USD per token.

After raising capital for the project, the building phase including grid connections will last 3-4 months. By February 2018, the data center will be operational. Half of the profit generated will be distributed to Golden Fleece token holders by means of a token repurchase scheme. Tokens will be repurchased according to a monthly plan at the market price. The other half of the profits will be reinvested to increase data center capacity.

43
SHARES
FacebookTwitterLinkedinRedditE-MailTelegram

Related News

MGT Capital deploys 650 new Bitcoin mining rigs

08/18/2017

MGT Capital Investments, Inc. (OTC: MGTI) has announced the deployment of 650 new Bitmain S9 Bitcoin mining rigs. These units are located at a new multi-MegaWatt facility in central Washington state. The company anticipates...

Read more

MGT Capital launches pilot program to mine Ethereum

06/23/2017

MGT Capital Investments, Inc. (OTC: MGTI) announced today an agreement with Bit5ive LLC to purchase up to 60 graphics processor-based mining computers. These machines will utilize the highest quality GPU cards and Intel CPU's...

Read more

Bitmain launches new Bitcoin mining pool ConnectBTC

04/03/2017

ConnectBTC, the Bitcoin network’s newest mining pool announced today its launch to the public. New Bitcoin mining pool ConnectBTC was fully developed by Bitmaintech in Israel, independently of any other pool. Operating under a...

Read more

Cumberland Mining enters Zcash OTC market

03/16/2017

Cumberland Mining, a major provider of cryptocurrency liquidity for OTC traders, brokers and exchanges has now started making markets in Zcash (ZEC). The company is a subsidiary of multi-asset proprietary trading firm DRW. Bobby...

Read more
Load More
Leave Comment

Where to Exchange

Leading crypto suite in Spain & LATAM Visit
European bitcoin exchange Visit
Swap & buy 150+ cryptocurrencies Visit
First U.S. regulated BTC exchange Visit
  • Trending
  • Latest
Trust Wallet launches anticipated browser extension of its crypto management app

Trust Wallet launches anticipated browser extension of its crypto management app

11/14/2022
Where Exactly Can You Spend Monero Cryptocurrency?

Where Exactly Can You Spend Monero Cryptocurrency?

10/20/2021
How to Become a Web3 Developer: A Guide to Web3 Jobs

How to Become a Web3 Developer: A Guide to Web3 Jobs

03/15/2023

Ripple names payment network RippleNet and grows product suite

08/01/2017
Nomura’s Laser Digital invests in Infinity, an Ethereum-based money market protocol

Nomura’s Laser Digital invests in Infinity, an Ethereum-based money market protocol

02/15/2023
ETH infrastructure platform Blocknative adds TX bundles, cancellation, and replacement support

ETH infrastructure platform Blocknative adds TX bundles, cancellation, and replacement support

02/02/2023
Crypto derivatives exchange Deribit to put in place trade surveillance platform from Eventus

Crypto derivatives exchange Deribit to put in place trade surveillance platform from Eventus

01/24/2023
Crypto exchange Gemini launches new electronic OTC trading solution

Crypto exchange Gemini launches new electronic OTC trading solution

01/19/2023
  • Home
  • Directory
  • Data
  • About
  • Contact
SUBSCRIBE

© 2016 - 2023 CryptoNinjas Disclosures | Privacy Policy

  • Home
  • Crypto Links
  • Market Data
  • Blockchain Tech
  • Exchanges
  • Capital Raising
  • Vendor Technology
  • Token Offerings/Listings
  • Payments
  • Wallets
  • Bitcoin ATM Map
  • Conferences & Events
  • About
  • Contact
No Result
View All Result

© 2016 - 2023 CryptoNinjas Disclosures | Privacy Policy