FREQUENTLY ASKED QUESTIONS

01. How many BMF Tokens are on sale and what is their Price?

We are selling up to 100 million BMFs at a nominal price of 1$, not including 22% VAT.
Buyers participating in the Private Sale will get a 20% discount. For each 88 BMFs sold, 2 are produced for our Bounty Program supporters, while 10 are generated for Bitminer Factory management.

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02. Who is Bitminer Factory’s Management?

Management is composed of experts in real estate and general constructions, renewable energy projects and corporate strategy. Our “Mining Operations team” is the most experienced in Italy, since they have opened and been managing the biggest Mining Farm in the country. Bitminer Factory is part of “Gruppo Industriale Angeli”, among the leaders in the general building industry all over the world for 50 years. See what we look like inside our Pitch Deck or in the dedicated Team section of our website!

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03. How does our Bounty Program work?

Our Bounty Program is the program incentivizing the sale of BMF tokens. All supporters that will take part in the sale through the Bounty Program will accrue the right to 2 BMFs every 88 BMFs bought to clients they introduced, in addition to the 2.5% of the value of the order. All BMF owners can take part in our Bounty Program using the Referral Link available in the user dashboard when the Public Sale starts.

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04. What is the sale Timeframe? What is the Discount offering?

The sale starts on May 25th 2018 and ends on September 30th 2018.
We are proposing the following Discount offering:
20% discount up to 20th of June 2018 – with privileged access to our BuyBack Plan
18% up to the 20th of July 2018 - Pre-ICO
12% up to the 20th of August 2018
6% up to the 20th of September 2018

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05. How does the BMF token work?

Our BMF token given its owner the right to a portion of the overall profits of the Mining Operations installed and operated by Bitminer Factory using the earnings obtained from this sale. BMF is a Tokenized Mining Contract that every owner can sell to third parties. BMF token owners can exercise their rights with respect to Bitminer Factory based on our Terms of Sales, published on this website.

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06. Why are you selling BMFs in an ICO (Initial Contract Offering)?

We chose to make the contribution of our Clients towards our eco-friendly blockchain mining activities “liquid”. Indeed, everyone will be able to buy and sell BMF tokens any time, as they are standard ERC20 Ethereum blockchain tokens. BMF is not a debt or equity security in Bitminer Factory, while it is the digital equivalent of our Sales Terms & Conditions – that is why our ICO is an Initial Contract Offering.

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07. Why are you applying VAT to the BMF sale?

BMF is a service contract that entitles buyers to the use of a portion of our Mining Operations. It is not a financial services product – therefore, it is subject to VAT in the country where the service is deployed. We want to operate BMF in the most transparent and legal way, and we want to grant its owners the exercise of the rights described in our Sales Terms & Conditions.

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08. How can I buy BMFs?

During the Private Sale you have to fill in the Purchase Order, as per our Contract published on this website, and send it via email to irene.c@bitminerfactory.com You will receive back a Sale Offer with the instructions on how to pay.

During the Public Sale, you must click on Buy now, go through the Payment phase and submit your Email address, the Quantity of BMF you want to purchase, the Currency chosen for the Payment and your Payment Address.

Your Payment Address is your ERC-20 compatible wallet (e.g. MyEtherWallet.com) on which you will receive your BMF tokens. If you pay with ETH, you must send ETH from this Payment Address to our Smart Contract address, that we will give you during the Payment phase.

The Payment phase will prompt you to complete the KYC (Know Your Client) procedure so that we can verify your identity. You will be required to submit your Name, Surname, Email, Nationality, Country of Residence and your ID. US Citizens and Residents are excluded from the Sale.

Once KYC is complete, you are Whitelisted! You will be able to complete the Payment as follows.

During the Pre-ICO phase, from 21/6/18 to 20/7/18, you will be able to purchase with a 18% discount sending the Payment in BTC or ETH to the addresses that we will give to you. You will receive your BMF on your Payment Address on 20/7/18.

During the ICO phase, from 21/7/18 to 30/9/18, you will be able to purchase BMF at a 12% discount (until 20/8/18) and 6% discount (until 20/9/18) by sending ETH to our Smart Contract or BTC to your unique BTC address (which we will give to you). You will receive your BMF to your Payment Address automatically from our Smart Contract on the same day you remit the Payment.

Once you have made the Payment, do not forget to click on “I have completed the Payment” in the dedicated Payment page or in the email reminder.

8.bis Which Currencies can I use to make the Payment?

During the Private Sale, from 25/5 to 20/6/18, you will be able to pay with ETH, BTC, EUR or DOLLAR.

During the Pre-ICO phase, from 21/6/18 to 20/7/18, you will be able to pay with ETH or BTC only.

During the ICO phase, from 21/7/18 to 30/9/18, you will be able to pay with ETH or BTC.

See the following question for more details on the payment procedure “How I receive BMF on my Wallet” and if you don’t know how to purchase ETH or BTC.

8. tris Come acquisto ETH o BTC? Come ricevo i BMF sul mio Wallet?
Purchase ETH or BTC
You must purchase ETH or BTC first, if you do not have any. You can buy ETH or BTC on any Exchange online. E.g. on https://www.bitpanda.com you can purchase ETH or BTC by bank transfer or credit card. Other very easy and common purchase solutions are https://www.coinbase.com and Lykke https://www.lykke.com/. They are very popular and reliable services, with a very intuitive App.

2. Create your MyEtherWallet
If you don’t have one, then you have to create a wallet on https://www.myetherwallet.com, a reliable and common service. This is the Payment Address you must give us during the Payment phase. Send your ETH your MyEtherWallet address and make the payment from this address: this is the same on which you will receive your BMF.

BE CAREFUL: you cannot send BTC to your MyEtherWallet! If you have chosen to pay with BTC, then you can make the payment from any BTC Wallet or Exchange. You must create your MyEtherWallet address and submit it to us as your Payment Address: you will receive here your BMF.

3. Send your ETH or BTC to our Smart Contract
If you want to pay with ETH, send ETh from your MyEtherWallet address to our Smart Contract: we have given the address to you during the Payment phase.
If you want to pay with BTC, send BTC from any Exchange or BTC Wallet to the address we have sent you during the Payment phase and by email.

4. Receive your BMF to your MyEtherWallet
Our Smart Contract will send BMF to your MyEtherWallet address. If you want to see your BMF tokens, go to View Wallet Info. In the column on the right “How to See your Token”, click on “Add Custom Tokens”. Insert the following information:

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09. How is the Net Result distributed to the token holders computed?


Net Result = Total_Cryptos – Total_Operating_Costs – BuyBack

Whereas:
Total_Cryptos = total amount of cryptocurrency generated through our Mining Operations over 1 year
Total_Operating_Costs = O&M + OHs + EL + Taxes
O&M = costs to maintain Mining Operations efficient, including personnel
OHs = overhead costs associated to Operations and Business management
EL = costs incurred in order to supply electricity power
Taxes = any tax due to all relevant Government institutions, incurred through any of the Bitminer Factory activities
BuyBack = total amount of cryptocurrency generated through Mining Operations, spent to buy BMFs back according to our BuyBack program

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10. How are you going to share the Net Result with the buyers? How is it going to be distributed?

Our management will publish Mining Operations reports quarterly, highlighting the overall status and specifying the Net Result. Generated Cryptocurrencies, net of aforementioned costs, will be allocated to the Net Result Balance. The ETH equivalent of the Net Result Balance will be annually distributed every 30th of September to BMF token holders, on the wallet where they store their BMFs.

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11. Why are you distributing the Net Result in ETH? What is the conversion rate applied?

The Net Result is distributed to BMF token holders in ETH since BMFs are ERC20 tokens, working on the Ethereum platform via Smart Contracts. The Net Result conversion to ETH will use the conversion rates published on www.coinmarketcap.com

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12. What can I do with BMF tokens?

You can HOLD them: this will entitle you to receive your portion of the Net Result annually in ETH, and you will have privileged access to the London AIM stock exchange IPO that we are planning to launch in 3 years
You can TRADE them: you can sell BMF tokens on crypto exchanges or ask Bitminer Factory to buy them back. You can take part in our BuyBack Plan, which means Bitminer Factory will buy your BMFs back with a quarterly schedule at an increasingly higher price.

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13. How does our BuyBack Plan work?

At the end of each quarter, starting from the 31st of December 2018, Bitminer Factory will start proposing to buy back BMF tokens. The buyback price at the 31st of December 2018 is already fixed at 1.1$ per BMF and it will increase by 0.1$ each subsequent quarter. The amount of BMFs bought back will be published by our management in our Quarterly Reports. Buyers taking part in the Private Sale will have priority access to our BuyBack plan.

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14. What are the risks associated with BMF tokens?

BMF tokens are subject to a volatility risk and their value can fluctuate on cryptocurrency markets, over which the Seller has no influence whatsoever. As a buyer, you are exposed to the Seller credit risk, which means that the Seller may not be able to satisfy, either fully or in part, the obligations arising from the Terms of Sale. BMFs are subject to risks related to operations, performances, and price fluctuation of materials and services.

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15. Who is the Seller of BMFs?

During the Private Sale, the Seller is:
ERA Soluzioni Ecosostenibili srl, via delle Porcellane, 5 - 50019 Sesto Fiorentino (FI), Italy P.IVA IT06059010485

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16. How Can I create a Wallet?

17. How to use Ledger with BMF tokens

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