LEGAL INFORMATION. Please read all of the information in this document.

Transcription

1 WHITE PAPER

2 CONTENTS Legal information About the company Idea behind the project Glossary Chapter 1. Project 1.1.BITTECH Ltd 1.2.Tasks 1.3.Bittech One miner 1.4.Bittech One S miner 1.5.Bittech L-one miner 1.6.Mobile data center Bittech BIG One 1.7.Comparative analysis 1.8.Production time Chapter 2. Technologies 2.1. Distributed mining 2.2. Power sharing, specialization 2.3. BITTECH bitcoin data center Chapter 3. Team Development, research and production team 3.2. ICO preparation team 3.3. Bittech Ltd background Chapter 4. ICO BTECH token 4.2. Pre-ICO 4.3. ICO 4.4. Offer for potential investors 4.5. Allocation of funds raised 4.6. Tokens distribution 4.7. Substantiation of demand Chapter 5. Guarantees Legal guarantees 5.2. Disclaimer 5.3. Description of risks

3 LEGAL INFORMATION Please read the following notice carefully before reading the White Paper, a document issued by LanLand Limited (hereinafter referred to as the Distributor) registered and operating under the laws of the Republic of Cyprus. This notice applies to everyone who reads this document. Please note that this notice can be amended or updated. The White Paper does not assume any relationship between you and the Distributor. BTECH tokens can only be accessed after acceptance of the tokensale User Agreement. Acquisition of BTECH cryptographic tokens is not a cryptocurrency exchange for any form of the Distributor's ordinary shares, nor do holders of BTECH cryptographic tokens have the right to any guaranteed form of dividends. Holders of BTECH tokens are entitled to certain rights under the User Agreement. BTECH tokens are not intended for creation of securities in any jurisdiction. This White Paper is not a prospectus or an offer of any document, nor is it intended to create an offer of securities or to attract investments in securities in any jurisdiction. This document is intended for information purposes only. The contents of this document are not a financial incentive. Therefore, none of the information in this document is an invitation or encouragement to participate in any kind of investment activity. Buyers of BTECH tokens should carefully account for and assess all risks and uncertainties associated with cryptocurrencies. Please read all of the information in this document.

4 BITTECH LTD HAS BEEN OPERATING SINCE 2017 AND IS A MANUFACTURER OF CRYPTOCURRENCY MINERS. ABOUT THE COMPANY The production is based on ASIC chips with a customized architecture built on the technological process of 10 and 14 nm and the development of software for the produced miners. BELOW ARE SOME FACTS ABOUT THE CURRENT BITTECH BUSINESS: 2017 Founded in 2017 Headquarters based in Hong Kong 18 full-time employees The ASIC chip is developed for the SHA-256 algorithm on the technological process of 10 and 14nm of BT00 series Bittech One cryptocurrency miner has been serially produced since 2018 The construction of a data center was begun in the Irkutsk region, Russia, with a total capacity of 21MW for 9,000 miners. The launch is scheduled for September Currently, our company is seeking to raise funds through the ICO for the development of new products in the cryptocurrency miner range, as well as to construct three more data centers in Canada, Iceland and Estonia.

5 IDEA BEHIND THE PROJECT: 1. The production of cryptocurrency miners for basic algorithms, such as SHA256 and Scrypt, on modern, energy-efficient, 10-14nm chips. 2. Construct cryptocurrency data centers in Canada, Iceland, Estonia and Russia with a capacity of at least 7,000 miners each. FEATURES OF THE PROJECT: The 14nm BT0014 chip was developed for the SHA-256 algorithm, whose performance and energy efficiency was improved by 20-25% compared to the 16nm chips of competitors; The 10nm BT0010a chip was developed for the SHA-256 algorithm, with chip performance improved by 7% over Bt0014; The 10nm BT0010La chip was developed for the Scrypt algorithm, whose performance is 15-20% higher than the competitors, and the energy efficiency was improved by 5-7%; Serial production of the BITTECH One miner for the SHA-256 algorithm on BT0014 chips was launched, with a 28Th/s capacity, and consumption of only 2,200W; Prototype of the BITTECH One S miner for the SHA-256 algorithm on BT0010a chips was launched, with 36Th/s capacity and consumption of only 2,800W; Construction of a data center in Russia, Irkutsk region, with a total capacity of 21MW was begun.

6 HOW DID BITTECH EMERGE? The current business owners Jihan Luo and Alexsandr Maiorov first met in the end of 2016 at a fintech exhibition in China, and six months later they began to produce new chips and miners, having invested $2+ mln in software and hardware development. IDEA BEHIND THE BUSINESS: Aside from creating modern miners, the management took the existing trends and problems of the cryptocommunity and miners in particular into account. This is how the idea emerged, which later developed into a separate activity of building several cryptocurrency data centers whose production capacity will be used to host branded miners and also be leased to customers for the installation of purchased Bittech miners. This service was named the Service Contract. By using the Service Contract, customers will not have to worry about searching for the best infrastructure, services, transportation, and of course any legal issues regarding cryptominer hosting. As such, the BITTECH project makes mining accessible for the global population, supporting the core values of blockchain: decentralization, transparency and security.

7 GLOSSARY: Mining is activities aimed at maintaining a distributed platform and creating new blocks with the opportunity to get a reward in the form of new units and commission fees in various cryptocurrencies, in particular, bitcoins. The computations are required to protect against spending the same units, and the rewards encourage people to spend their computing power and support the network operation. BITTECH (BTECH) token is a digital asset that grants its holder a right to purchase a new generation of BITTECH miners built on modern 10-14nm chips. Bittech One 14 nm miner is an unrivaled miner in its class, with the SHA 256 mining algorithm, 28ths capacity and low consumption of only 2,200W. Available for retail since May BITTECH project is an open decentralized full-cycle system for the development, introduction, production and control of innovative mining equipment built on the Bt0** chip with unique energy efficiency and performance.

8 CHAPTER 1 PROJECT

9 1.1 BITTECH LTD The modern industry of global mining will now have to answer several major questions that will define its future. The trend to consolidate mining pools in one country (China) and lack of consensus between the Chinese miners, the Chinese government and the major market players greatly influence the blockchain development. A technological leap and a modern and affordable solution for end users are required to resolve the accumulated contradictions. The release of a groundbreaking product sets a new standard for miner performance and will restore the network decentralization, and building data centers in several countries will attract new people to the world of mining and blockchain. China is the world leader in innovative technologies, but consolidating all this technology in one place is not safe and contradicts the very idea of decentralization. Bittech's innovative chips, coupled with decentralized mining technology through data centers, will allow the creation of an efficient distributed system of investors, producers and miners, where everyone is interested in the end result: efficient and affordable mining TASKS BITTECH PROJECT HAS THE FOLLOWING PRIORITY TASKS: The development and implementation of a new generation of BITTECH series miners based on BT ASIC chips for basic hashing algorithms; The reduction of miner costs for buyers; The introduction of services for the miner sales, which allow the start of mining in a short time; The creation of a distributed mining network by building data centers.

10 1.3 BITTECH ONE MINER Bittech One 14 nm miner for bitcoin mining has the following characteristics and advantages: KEY CHARACTERISTICS: Mining algorithm: SHA 256 Power consumption: kw Hash Rate: 28 TH/s Chip architecture: 14 nm ADVANTAGES: Best ROI in its class Possibility of colocation in the BITTECH data center under a service contract Connection to the miner via dedicated IP ABSTRACT: Current status: serial production

11 1.4. BITTECH ONE S MINER Bittech One S 10 nm miner for bitcoin mining has the following characteristics and advantages: KEY CHARACTERISTICS: Mining algorithm: SHA 256 Power consumption: kw Hash Rate: 36 TH/s Chip architecture: 10 nm ADVANTAGES: Best ROI in its class Possibility of colocation in the BITTECH data center under a service contract Connection to the miner via dedicated IP ABSTRACT: Current status: prototype Performance calculations have been made for the prototype, and load testing and software calibration are in progress.

12 1.5 BITTECH L-ONE MINER Bittech L-one 10 nm miner for Litecoin mining has the following characteristics and advantages: KEY CHARACTERISTICS: Mining algorithm: Scrypt Power consumption: kw Hash Rate: 2.3 GH/s Chip architecture: 10 nm ADVANTAGES: Best ROI in its class Possibility of colocation in the BITTECH data center under a service contract Connection to the miner via dedicated IP ABSTRACT: Current status: prototype Performance calculations have been made for the prototype, and load testing and software calibration are in progress.

13 1.6 MOBILE DATA CENTER BITTECH BIG ONE The Bitcoin data-processing center that comes in a 40 ft, full-size container is our special offer for cryptocurrency mining on a commercial scale. A ready-to-use solution based on the Bittech One miners, it provides an efficient design, welltrusted hardware solutions, and low operating costs. KEY CHARACTERISTICS: Mining algorithm: SHA 256 Power consumption: 0.5 МВт Total processing power: 5.6 PH/s Chip architecture: 14 nm ADVANTAGES: Best ROI in its class Full autonomy and mobility A fully ready-made solution that includes all necessary infrastructure

14 1.7 COMPARATIVE ANALYSIS Bitmain S Ths / 1.4 kw $750 ROI - 5 mon Bitfury B8 48 Ths / 6.5 kw $6,200 ROI - 11 mon Avalon Ths / 1.8 kw $1,300 ROI - 6 mon Bittech One 28 ths / 2.2 kw $1,590 ROI mon 1.8 PRODUCTION TIME Q3-Q nm chip prototype, Bittech One miner prototype Q1-Q nm chip prototype Q Bittech One miner serial production Q3-Q prototype and serial production of Bittech One S and Bittech L-One

15 CHAPTER 2 TECHNOLOGIES

16 2.1 DISTRIBUTED MINING Distributed mining is a technology of distributed creation of cryptocurrencies that combines the new available product range for mining equipment, which allows the creation of an efficient, decentralized network and low mining costs. Bittech is going to build 4 data centers in Canada, Iceland, Estonia and Russia. The company began to build a data center in the Irkutsk region, Russia, with a total capacity of 21MW for 9000 ASICs in the third quarter of These are the following prerequisites for the creation of such a network in the above countries: Surplus of electrical capacities; Easy access to the wholesale electricity market; Cheap electricity; Reliable energy system; Cold climate; Affordable price of the Bittech range of miners for the population. You will be able to buy a BTECH token during the ICO that gives the right to buy the most modern and productive miners of BITTECH series built on 1014nm chips, as well as to buy a service contract under beneficial terms to host the miner in the Bittech Data Center.

17 2.2 POWER SHARING, SPECIALIZATION To enter the market with a new product range of miners as soon as possible, as well as for the rapid construction of data centers, Bittech delegates some obligations to partners: Singamas (mobile data center solutions), IGC (supply and installation of ventilation systems), Cisco (network solutions, telecommunications), Legrand (automation systems, data center electrification, firefighting and monitoring systems), TSСM (10 nm and 14 nm chips production). Clear power sharing and technological processes within the system will achieve the goals on time. 2.3 BITTECH DATA CENTER KEY CHARACTERISTICS: Total capacity - up to 9000 Bittech One Hash rate - up to 300Ph/s Power - up to 25MV BITTECH has opened large cryptocurrency data-processing centres (DPC) in Iceland, Estonia, Canada, and Russia. Every DPC is a professionally arranged platform for the Bittech One miner that includes our own, cutting-edge, 14 nm chip. BITTECH company has tried its best to develop infrastructure and technologies that make the mining process as simple and convenient as possible. In April 2018, BITTECH began construction of the first data center in the Irkutsk region, Russia with a total capacity of 9,000 miners on an area of more than 5,000 sq.m.

18 CHAPTER 3 TEAM

19 3.1 DEVELOPMENT, RESEARCH AND PRODUCTION TEAM JIHAN LUO ALEXSANDR MAIOROV Founder, CTO. Co-Founder, CEO. Jihan graduated from the Harbin Institute of He moved to Guangzhou, China from Russia Technology and is in charge of technology in the 90s. Alexsandr graduated from the development with Bittech. He worked for South China University of Technology. He met Xiaomi and Huawei, with total experience of Jihan Luo in 2017, and they founded Bittech 20+ years. Ltd. He is in charge of production for the company. HANS KRUGER SUN WEI Director of Marketing and Chief Engineer. Communications. He graduated from the South China University He graduated from Cambridge University of Technology and worked for Huawei and and has long worked for TSMC. He is in charge of Audi AG. the technological and software solutions development in the company.

20 3.2 ICO PREPARATION TEAM SERGEY MIHEEV OLGA PAULAUSKAS Project Manager. Financial Advisor of the project. He graduated from the Moscow State She graduated from the Vilnius University and University and has long worked for VTB has long worked for TGE Energy. She is Group and Deloitte. He is Head of the IT responsible for developing the financial Solutions Development Team, project model in the team. coordinator. 3.3 BITTECH BACKGROUND FOUNDED IN launch of the hardware and software solutions development Q2-Q prototyping of the first miner on 14nm chips Bittech One Q testing of pre-production Bittech One samples, software development Q production of the first lot of Bittech One 2,000 units Q start of preparation for ICO

21 CHAPTER 4 ICO

22 4.1 BTECH TOKEN BTECH token is a digital asset of the system recorded in the ERC20 format based on the open-source Ethereum blockchain. Only the BTECH token can be exchanged for a Bittech series miner and a preferential purchase of the service contract for hosting the purchased miner in the Bittech data center. PURPOSE OF ISSUE VOLUME OF THE ISSUE The purpose of the BTECH issue is to raise funds in the Project equal to USD 100,000,000. Only 100,000,000 BTECH will be issued (1 token = $1). Token buyback is possible through exchanging them for miners/services. ADVANTAGES OF THE BTECH TOKEN Series of working BT00-series chips; Production of inexpensive and reliable 14 nm Bittech One miners 180 days warranty, ROI is 4.8 months; Existing technological capacities 21 MW; Independent project pool: pool.bittech.cn.com; Financial plan that divides the proceeds from the ICO into two streams: 35% for constructing the Bittech data centers, and 40% for purchasing parts and production of the Bittech series of miners, including those for new algorithms; Manufacturer's interest in the long-term reliable operation of miners: the service contract allows customers to obtain an extended guarantee for the time of the miner hosting in the data center; Expert team with successful experience in implementing innovations.

23 4.2 PRE-ICO BTECH PreICO will launch on June 20, The BTECH token value will be 1 USD during pre-ico, without taking the bonus system into account: over 10000$ - 10% bonus over 50000$ - 30% bonus over 30000$ - 20% bonus over $ - 40% bonus At the same time, the investor's entry threshold cannot be less than USD 100. Payment is accepted in Bitcoin, Bitcoin Cash and Ethereum at this stage. Soft-cap - $1,500,000 Hard-cap - $5,000, ICO ICO period is from August 20, 2018 to October 20, Price of the BTECH token will be 1 USD for the entire ICO. Entry threshold is 1 token. Payment is accepted in Bitcoin, Bitcoin Cash and Ethereum at this stage. New tokens are not generated after the ICO, and unsold tokens are burned. HARD-CAP $100 mln

24 4.4 OFFERS FOR POTENTIAL INVESTORS 1 BTECH - 1 USD; Purchase BTECH tokens for BTC, ETH, BCH; The possibility of token free transfer (sale) to third parties; Special price for miners of the Bittech series; Possibility of hosting the equipment in Bittech data centers under special terms Transparent work guaranteed by an Ethereum smart contract 4.5 ALLOCATION OF THE FUNDS RAISED Funds raised during the ICO will be used to develop the project as follows: Legal services 5%. Operating expenses - 5% Marketing and promotion of products 15% Creation of decentralized data centers 35% Production of Bittech series miners 40%

25 4.6 TOKENS DISTRIBUTION Btech % PURPOSE 1 1,000,000 1% Advisors 2 5,000,000 5% Bounty 3 9,000,000 9% Team 4 5,000,000 5% Pre ICO 5 60,000,000 60% ICO 6 20,000,000 20% Project reserve 100,000, % TOTAL Tokens that have not been sold or distributed during the ICO will be destroyed. Additional issue of tokens is not provided for in the smart contract. Adviser 1% Pre ICO 5% Team 9% Future Partnership 20% Bounty 5% ICO 60%

26 4.7 SUBSTANTIATION OF DEMAND. The tokens are primarily a discount certificate for use in the Bittech project. Use for buying the Bittech range of miners: Part of the funds raised during the ICO (40%) will be spent on the development and manufacturing of the Bittech range of miners. Since the company itself is a mining equipment supplier and manufacturer, and also has its own developments in this field, tokens holders will be offered contracts for the equipment supply at cost price. Use within the service contract: Part of the funds raised during the ICO (35%) will be spent on the creation of decentralized data centers in four countries: Canada, Iceland, Estonia and Russia. Each data center is one or more buildings to accommodate 7,000 to 12,000 miners of the Bittech range. Some of the places will accommodate miners that belong directly to Bittech, and the rest will be distributed among the customers who have entered into a service contract for a period of 3 to 12 months with the possibility of prolongation. Token holders will be able to exchange them for any term of the service contract at a 25% discount. As such, we have plans to develop the interest in the token exchange in order to get discounts and special offers as the project develops, as they allow significant savings to users of the service. Since the additional issue of tokens is not provided for, the demand will grow as the project audience grows.

27 4.8. ROAD MAP Q1-Q Creation of BITTECH, development of hardware and software solutions Q Prototype of Bittech One miner Q Serial production of Bittech One (14nm) Q Prototype of Bittech L-One (Scrypt, 10nm) Q Opening of DPC in Russia Q Prototype of Bittech One S (10nm chips) Q Serial production of Bittech L-One miner (Scrypt, 10nm) Q1-Q Opening of DPCs in Estonia and Canada Q3-Q Opening of DPC in Iceland

28 CHAPTER 5 GUARANTEES

29 5.1. LEGAL GUARANTEES The project is based on a legal structure that allows for the regulation and establishment of appropriate rights for BTECH token holders. BTECH token is a digital asset that grants the right to buy a new generation of Bittech range of miners, as well as the right to buy a Service Contract under special terms to host the miner in the Bittech data center. In fact, the BTECH token is an asset that confirms the existence of obligations between the parties. The lack of legal status of the cryptocurrency in the Republic of Cyprus allowed the project developers to view it as a digital asset produced during the mining process and at the same time as a discount coupon, which gives the right to buy the BTECH token at a reduced price. At the same time, the amount of discount for the token is directly proportional to the number of invested digital assets (cryptocurrencies). The right to an asset can be assigned by transferring a token either with or without charge DISCLAIMER Information in this document can be amended and updated without prior notice. This document or its parts cannot be copied or reproduced without written permission from Bittech. The purpose of this document is only to inform potentially interested persons. The information presented in this document is not a legal obligation in any sense of the word and is not an offer to sell shares or securities.

30 5.3. DESCRIPTION OF RISKS Like any other form of investment, investing in cryptocurrencies entails significant risks. When the buyer acquires BTECH tokens, they agree to undertake all risks associated with possible financial losses. The risks to which cryptocurrencies are exposed can be: FINANCIAL They are associated with cryptocurrency rate volatility, changes in supply and demand, as well as the liquidity of a particular cryptocurrency; ECONOMIC They are associated with the fundamental changes in the market situation, including economic crises, as well as with the economic problems of projects, the tokens of which are acquired for the portfolio by the fund; TECHNOLOGICAL They are associated with possible errors in technologies used in the code; LEGAL They are associated with a possible change in the regulatory policy of the countries towards cryptocurrencies. We have sufficient experience in managing IT risks, as well as risks in the real and financial sectors to be able to create all the conditions for minimizing the risks of participation in our project. However, we do not guarantee any profitability associated with buying BTECH project tokens. We do not guarantee that users will be able to exchange their tokens for any forms of fiat currencies. We guarantee that users will be able to buy a range of Bittech miners at special prices, as well as a service contract that allows them to place the purchased miners in the Bittech data center under special terms in exchange for BTECH tokens.

31 ICO web site: ico.bittech.cn.com Mining pool BITTECH: pool.bittech.cn.com Main website: bittech.cn.com LANLAND LIMITED Address: Lefkou Anastasiadi 8, Strovolos, 2012, Nicosia, Republic of Cyprus. Reg. number: HE Managers: Sergey Miheev Managers of BITTECH ICO Tel in Russia: Tel in Hong Kong: Support team: