The envion team has been hard at work collaborating with our production facility on our mass-production line and pre-installation mining, meeting with potential new customers, and organizing the process for dividend distribution.
The news everyone wants to hear about is MMU production. Things are humming along at our EU production facility where pre-installation mining, container production, and pre-deployment MMU mining will take place.
The pre-installation mining facility is complete and ready for hardware delivery. A dust-free warehouse has been made ready with the power connections necessary for large-scale mining and the hardware racks for the GPUs and ASICs are being completed by the factory production line.
Just to recap, the plan is to install all hardware on the racks and begin mining as soon as hardware arrives. This will allow maximum profits as no mining time will be wasted while the containers are being built. The racks themselves will just be loaded on to the MMU containers as they roll off the production line.
The containers themselves are in production as each section of the mass-production line, which includes both human and robot construction, is optimized and new workers are onboarded and trained for each task.
With the electricity supply and power connections necessary to start mining with finished MMUs in place, MMUs will begin mining on-site as soon as possible before deployment. The factory is capable of hosting up to 70 MMUs with competitive energy prices that assure profitability at every step.
The search for production facilities in the Americas to reduce transport costs — and mining downtime — for customers in North and South America (see below) is underway. The current work done optimizing mass-production at the first factory should lead to even speedier scaling for new factories.
Hardware is on the way! Our first order of GPUs have left the factory in Asia and will soon be on a plane heading for our production facility. This initial order of GPU mining machines (not even on the market yet) should arrive in the middle of next week which coincides with when the warehouse, racks, etc. will be ready to receive them. The first orders are small and will be used to create the workflows for pre-installation mining and train workers to accommodate even larger orders which are in the pipeline.
Envion has 10 EU locations for Proprietary Operations MMUs offering power prices between $.04-$.06 per kw/h. We are currently determining which will get the first batch of MMUs from the factory, but with 50MW of capacity on the table, we expect over 600 MMUs will have a home among these first customers.
Discussion with potential Third Party Operations customers on the other side of the globe are also underway. The total value of the deals under discussion would be in the hundreds of millions of dollars with the first cooperation starting as soon as TPO MMUs roll off the EU production line.
A second production line in North or South America is in discussion to service further projects starting later in the year. Most of the capacity under discussion in the Americas is in North America — Canada and Texas specifically.
These potential customers are offering envion dedicated capacity with competitive electricity rates and are asking for long-term contracts to operate and maintain MMUs purchased via the TPO program. Dedicated capacity and decades-long contracts are a bit different from the types cooperations envion received in the first months of the business and we see this as a huge vote of confidence in our business — especially from publicly traded companies who must answer to shareholders and financiers.
Second only to questions about production are questions about dividends. As we said in our last update about dividends, all mining activities will be audited and a report will be published verifying our accounting before any payouts are made. We can now announce that Big Four auditor PWC is our auditing partner.
Now that PWC is onboarded as our auditor, we must first identify and agree on all the relevant costs and metrics associated with mining operations and establish the reporting procedure. After that, PWC will collect data which we will publish for our token holders verifying how dividends are calculated. Dividends will be paid to all wallets holding EVN tokens only after the report is published.
SEC, crypto bank, etc. do things the envion way
Envion has taken a lot of criticism for a long KYC process, waiting for an audit to distribute dividend payments, and a slower pace of news than many in the ICO world are accustom to. While it might be satisfying to get everything you want right now, recent developments in the crypto world are demonstrating the value of taking the time to do things right.
In the USA, the Securities and Exchange Commission has asked that all exchanges register with the SEC and comply with their rigorous financial regulations. While that has sent many investors into a panic, envion is well-positioned to be one of the few coins that could be traded under such circumstances. We’ve already done the hard compliance work and transparency is already part of our business model. Our security token which seemed exotic in 2017 will be one of the only ones trading by the end of 2018.
We hope that these developments show our token holders that our commitment to professionalism is paying off — even when that means asking for a little patience from our token holders. It’s a reminder that value investments can take time to mature, but that it’s time well spent.
Laurent had a great time meeting with ~20 envion investors at the Beverly Hills Blockchain meetup last week. It was nice to talk directly with investors and see some of the faces behind the usernames on Telegram. We look forward to seeing you at more events in the future, starting with the Blockchain Technology Conference tomorrow, March 9th, in Berlin.
Trade EVN Tokens
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