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MiningStore
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MiningStore
Application to become an approved third party manufacturer as per HIP19.
## Summary
## Company Information (required)
* Miningstore dba Miningstore.com
* How long have you been in business? We have been selling mining equipment since 2016.
* What kind of products have you created? Bitcoin Mining Buildings and associated equipment.
* How many have you sold? Over $25M of equipment this year.
* What brought you to Helium etc? The ability to offer a lower priced miner to JP Baric’s large Tiktok audience and to help further our vision of putting computers to work for others.
## Product Information (required)
* Is this is Light Hotspot or Full Hotspot? (please submit two separate applications for Full and Light hotspots) Full Hotspot
* Is it for indoor or outdoor? Indoor with an outdoor antenna extension as an optional purchase..
* Provide a brief description of what you're making. We are creating a helium miner that provides an easy to user experience for new entrants into the crypto space. Our hotspot will have better RF capabilities than any hotspot currently being offered. Our unique design with changeable frequency and antenna matching give the user a better device and makes the production of the hotspot more efficient.
## What is your approximate price point? (required) $650 per unit
## Please provide detailed hardware designs, including relevant parts (required)
Evidence of a functioning prototype - photos, videos. Renderings are OK but physical prototypes are much, much better.
Your plan for software setup and configuration for the devices.
This would includes remote updates and the ability for hosts to change wifi settings, via Helium's official app or otherwise.
## What is your expected production and delivery timeline? (required)
## Previous shipments (required)
We have shipped over $22M worth of Bitcoin Miners in 2021 and our parnters have shipped millions of small electronic products.
## Startups welcome!
* Have you shipped anything in the past? Yes or No - Yes we have shipped and built fully operational Bitcoin Mining Facilities and understand global supply chain constraints. Our partner Focus Wireless has shipped and built fully operational Bitcoin Mining Facilities and understand global supply chain constraints. Our team has shipped 100’s of electronic products and completed over 500 million dollars in revenue. This includes having produced and delivered over 1 million ASIC miners since 2018.
* Which countries have you previously shipped regulatory FCC or CE approved products?
We have created consumer electronics products that have shipped FCC certified products to the USA and Canada. We have CE certified products to the United Kingdom, Germany, France, Switzerland, Italy and Spain. We have shipped TELEC certified products to Japan.
* Which countries do you plan to ship to? India, US, China, South Africa, Europe.
## Customer Support (required)
* How will your customers be able to contact you for support for your products?
Customers can submit tickets via Jira to support@miningstore.com. Our technical team will respond within 48 hours and reach the desired resolution for the customer's issue within 1 week.
* For how long? How are you planning to handle repairs and replacements? We are planning on having US equipment fixed in our Iowa repair facility and plan on providing a year warranty.
* We are also planning on having India equipment fixed in the country or at the factory where our helium miners are manufactured.
## Hardware Security Element (required)
* The community is concerned about devices that can be easily hacked, specifically by copying their swarm_key files. Applications should include plan for how the devices will be secured, potentially including:
* Encrypted/locked-down firmware. Yes or no? YES
* Encrypted storage of the miner swarm_key, either via disk encryption or hardware measures. YES, hardware encryption of both the firmware on flash disk and of the keys using ECC608.
* Encrypted buses, potting and other anti-tampering measures. YES, firmware is encrypted before storage so bus data will be encrypted.
* Willingness to submit a prototype for audit, and sharing those audit results publicly (pass or fail) YES
## Hardware Information (required)
* Please let us know:
* Which security (swarm) element are you using? ATECC608B
* Which LoRa chipset are you planning to use in your gateway (ie SX1302/03 & SX1250s or SX1301/08 & SX1255/57) We recommend you don't use the SX1301 in new designs Our Lorawan hardware is module based and this can adapt do the component availability. Currently targeting 1302/1255 for initial 10K units based upon existing quantity of silicon in our own stores.
* Where are you sourcing your components from? We are mainly sourcing from Avnet, however we are also using all of our partner resources and steady supply chains to source components which are in short supply.
* How many radio modules/ concentrators can you procure? >10K already acquired.
## Manufacturing Information (required)
* Have you built and delivered radio hardware products before? YES, we have delivered products from AM radio to 8 GHz UWB. We specialize in RF design at all levels
* Have you built gateways before? Not Lorawan, but THREAD
* How many gateways did you make? PoC samples for large Agrotech application.
If you have not built gateways before, are you using a third party manufacturer? This is the single largest risk with most hardware ventures. If possible please provide information about your manufacturing partners and supply chain. We will leverage Lorawan firmware from 3rd party vendor with a long experience of this technology which has a very close relationship with Semtech. We have created sub-GHz gateways before based upon THREAD and other non-proprietary protocols including our own mesh protocol.
## Proof of Identity
Per typical KYC/AML procedures, proof of identity for major shareholders (25%+ ownership) will be expected to be provided privately to representatives from Helium Inc or DeWi board members. This will be attested and publicly confirmed by those representatives, e.g. as GitHub comments.
Contact details for this will be provided after your application is submitted on GitHub.
## Budget & Capital (required)
* How many of these are you hoping to make and sell? 10,000 for the first order and scaled to up to 100,000 a year after production and marketing has been scaled. MiningStore team has a large retail base of customers and has received over 30M of views on tiktok videos. https://www.tiktok.com/@jpbaric/video/7031284139311533318?lang=en&is_copy_url=1&is_from_webapp=v1
* How much money will be required up-front? Initial tooling charges and upfront costs are around $250,000. The first 15 test units 7 for India and 6 for the US will be at a cost of around $1000 per unit and is included in the above upfront capital costs.We will also need to pre-purchase many of the components for the initial production, around $1.5 - $2 million down deposit
* How much money do you have on-hand, and how much do you have access to? $5M on hand and the ability to quickly allocate capital to increase inventory and decrease lead times.
* What is your plan for additional financing if required? This is the second biggest risk in new hardware ventures - getting almost over the line and then running out of cash. SAFE offerings at the parent company level.
Presell inventory to large Bitcoin mining groups with a desire to sell and set up our equipment.
## Risks & Challenges (required)
The main risk is the availability of components, but due to our team’s many years of manufacturing in China and very strong supply chain, we so far have not had much trouble finding stock of rare components with long lead times. We will be sourcing and pre-purchasing these as we go along, so once we are ready for production we will have plenty of components ready, and more rolling in each month.
The main challenge is controlling all the separate legs of the project since we have different suppliers making each part of the hotspot, such as mainboard, plastic housing, antennae, power adapter, matching module, metal wall mount, packaging and final assembly. Aside from the physical aspects of the hotspot, we also have partners for the software and firmware. But since our team has a lot of experience in product development and deployment, we can easily handle this challenge.
## Other information (required) if you do not provide contact information we cannot review your proposal.
* Contact info (* required):
* Name: JohnPaul Baric
* Phone Number: 877-467-7780
* Email: legal@miningstore.com
* Twitter profile: @miningstore
* Facebook profile: https://www.facebook.com/miningstore.co/
* Other social profiles -
* Instagram: @miningstoreteam
* TikTok: @jpbaric
* Website: www.mininingstore.com
## Payment methods available
* Bitcoin, Stablecoin
* Credit Card
* ACH
Which countries do you plan to ship to and get regulatory certifications for? (required)
* USA,India and CHINA