Description of Asset
This asset is backed by 60+TB of HDD Mining and a 7 GPU mining rig. This Asset is also backed by the website www.BURSTMININGTOWN.com.
Beginning March 15th, and on the 15th and 1st of every month after that, I will distribute:
- 25% of the Gross earnings of the mining operation via dividend payouts.
- Any expenses, i.e. electricity costs, will be deducted from the remaining earnings.
- Then 50% of those remaining earnings will be reserved for the Share Redemption Plan which will begin on March 1st of 2019 and will continue until all shares are repurchased up to 150% of the original release price of 10 Burst Per Share.
- The final remaining earnings will go to increasing the disk space or GPU rig or replacing any parts that have failed. All purchases will be clearly documented in advance and available for review 24 hours before the 15th and 1st
- The goal of the asset is to get to 100Tbp. Once we reach that amount we will no longer purchase any new equipment. An amount equal to $100 USD will be reserved in the Equipment Fund and everything above that amount will be included in the next Dividen Distribution
The Asset reserves the right to purchase any shares at any time that are listed for sale below the release price from the funds being held for the Share Redemption Plan.
All Proof, Documents, information, can be found on the website at WWW.BURSTMININGTOWN.COM. The asset will publish a spreadsheet detailing all the income and expenses in detail 24 hours prior to the distribution of dividends to allow for review and comment. The website is scheduled to open on March 1st, 2018.
Once all shares are sold, there will be a vote on the website to designate one shareholder to be given full contact information as well as certain accesses to allow for verifications, proofs, checks, etc.
No later than September 1st, 2019, all shares listed for sale on the asset exchange priced at or below 15 Burst per share will be purchased and the asset will be discontinued. Any funds left over after September 1st, 2019 will be transferred to www.BurstMiningTown.com to facilitate the advancement of the site.
All 100000 shares will be issued on the exchange and if any persons involved with the creation or operation of this asset want shares, they are required to purchase them separately from their personal Burst account
Distribution of Mined Assets
The productivity of the GPU Mining Rig can be checked at anytime by going to the Asset's NiceHash Wallet. The btc that is earned will be transferred to CoinBase whenever the amount equals $100 USD. This transaction is free and protects the money from accruing in one place. Every 2 weeks the full amount of BTC will be transferred to the highest paying Exchange. After conversion, the Burst will be transferred to the Asset wallet for distribution as indicated above.
The productivity of the HDD mining operation can be tracked by visiting the pool that the Asset is currently mining on. This pool will be listed on the site whenever a change of pools is made. The public key of the Asset's mining account is BURST-HB8X-XXUA-2PSM-7YDZU. Burst generated by the operation will be transferred to the Asset's wallet on the Dividend Distribution date to reduce the number of transaction fees.
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