Mysterious Estonian Mining Firm Files to Hold $180 Million ICO

Cryptocurrency Market Inches Near $300 Billion in Gloomy Outlook
Cryptocurrency Market Inches Near $300 Billion in Gloomy Outlook
12/06/2018
Why Coinbase Added Ethereum Classic Ahead of Ripple & Other Tokens
Why Coinbase Added Ethereum Classic Ahead of Ripple & Other Tokens
12/06/2018

Mysterious Estonian Mining Firm Files to Hold $180 Million ICO

Mysterious Estonian Mining Firm Files to Hold $180 Million ICO


Get unique fiat and cryptocurrency evaluation on CryptoLiveClub for simply $39 monthly. Click right here now!

A mysterious startup primarily based out of Estonia has filed with the US Securities and Exchange Commission to inform the company that it intends to increase almost $200 million via an preliminary coin providing (ICO).

According to public paperwork filed earlier this month, the agency — NewTech Myning OU — hopes to increase as a lot as $180 million by promoting GoWeb tokens via Simple Agreements for Future Tokens (SAFT). Token costs are mounted at $three, and buyers can buy as little as one token.

The doc signifies that NewTech Myning was fashioned in 2018 as a restricted legal responsibility firm (LLC) and that it’s primarily based out of Tallinn, Estonia.

The sale was filed beneath Regulation D, indicating that the corporate is looking for an exemption from customary securities registration necessities. NewTech Myning OU mentioned that they’re exempt from registration beneath Rule 506(c), which implies that solely accredited buyers can contribute to the providing.

The paperwork reveal little else concerning the firm, however the GoWeb web site signifies that the tokens will entitle their house owners to a set quantity of computing energy from the agency’s cloud mining information heart. The web site additional states that GoWeb was fashioned in 2014, although if true it has operated largely under-the-radar.

Notably, Rainer Osanik, who within the submitting is listed as NewTech Myning’s CEO, doesn’t seem among the many group members listed on the GoWeb web site.

If GoWeb efficiently reaches its exhausting cap, it may rank as one of many 10 most profitable token gross sales in 2018. According to information from CoinSchedule, ICOs have raised slightly below $10 billion in 2018, although simply eight tasks have raised $100 million or extra (not together with EOS, whose $four billion ICO started in 2017).

However, it stays to be seen whether or not this little-known startup shall be ready to appeal to this stage of capital.

Featured Image from Shutterstock.

Follow us on Telegram.
Advertisement