Topic: [ActiveMining] The Official Active Mining Discussion Thread [Self-Moderated] - page 507. (Read 771526 times)

Please clearly address this.

Thanks.

im very happy we started a new thread

Like ffssixtynine said, that spreadsheet is very out of date now (it was made in July) and I haven't updated it anymore.

Just a note to say that vbs' spreadsheet is very out of date. The hardware profits (not revenues) are unlikely to come anywhere close (given profits pre price cut). Things have changed too much.

Ken, what's the mining plan?

And I know you can't discuss batch sizes, but what is the plan if the minimum workable batch size isn't met from sales?

I now understand why self-moderated threads work thanks for that thought experiment and hello to the new thread

kleeck questions:
-----------------------------------

I just sent Ken a detailed message regarding information for the coming phases. See below. I'll post the reply if he sends me anything.

Ken,

I've made my rounds with a few of the larger holders I've come to know in the ActM community and I've come across a few of the same questions/concerns over and over. I thought I'd just write you, as they all seemed to think it fruitless to even inquire. I'm not asking for a direct answer here necessarily, though if you do give me one I will immediately post it to the forums, but these questions would be good to publicly answer.

1. Is there a certain amount of money that MUST be made in sales in order for ActM to move on to assembling devices? There have been rumors that two million is needed to move forward according to plan. Is this the case?

2. Given that we have missed out on early profits due to poor pricing, and that those profits have been taken by competitors, do you have any plans to get ActM caught up to the pack? ~$90K is a terribly small number of sales in the face of $17M between CoinTerra and Hashfast (http://thegenesisblock.com/cointerra-and-hashfast-sell-17m-of-bitcoin-miners-open-second-batch-sales/). Could you address this?

3. Now that the eASIC deal is behind us, could you outline the plan moving forward for assembling the miners? What is your process? How many staff will you have on hand? Where will this be done (I know you've mentioned "the warehouse" in the past, is that it?)

4. Further, could discuss how ActM is going to set itself apart when it comes to shipping devices? Shipping reliability is critical, as you know, and it would be a confidence booster to hear a thoughtful process has been devised.

As you can see, there is a lot of unknowns, even among some of your biggest shareholders. We would like all the dots connected, and to see the plan that you have come up with laid our in a clear way for us. Is there anything you can do to relay what you have in store for these coming phases?

Thanks for your time,
Kleeck

-----------------------------------

Ken's answers:

1-
This is under the NDA.

2-
Yes, we are working to get caught up to the pack.  Both CoinTerra and HashFast were is stealth mode and where somewhat ahead of us on their development of their 28nm technology.

Now the ~90K is not revenue, but sales profit.  Our revenue was ~$330,000.  CoinTerra and HashFast post revenue figures, our revenue  figure is a lot higher like theirs; however, how much profit did they really get?

3-
Yes, we have ~2,600 square feet of space which we are turning into a manufacturing site.  This site will be used to assemble the final product.  The number of staff will depend on our sales from now until we start assembling the units.  The more sales the more staff we will need to assemble more units to meet the demand.

4-
Shipping reliability is critical under the current system of mining, that may change in the future. We are working to be competitive  in the market place with shipping. stay tuned for more developments.

We are in the the chip and PCIe board design phase now.  We are also working on increasing sales, as you know we have just announced the easic deal which has given us a lot of respectability.  We have just been added to the "theGenesisBlock" mining calculator.  This has caused us to start receiving a lot of traffic to our website from links like this.

Ken

Source: https://bitcointalksearch.org/topic/m.3178763

Soon we hope, they will be on the 68 Klondike boards.

Thank you very much for this!

It was really painful trying to keep up with the old topic...

Please confirm: 9, 12, 16-18 weeks from now or do you refer to an earlier date, for example when the eASIC deal was signed?

I'd also like to know more details about what is going to happen after the chips have been received and an estimated timeframe for the process of turning chips into a final product.

I'm willing to delete this post on my own. Please tell me, if you'd like me to do that.

Thanks.

"Our existing hardware assets from AMC liquidation
6 Avalon miners, currently running on BTC Guild under "Team AMC" for around 430 GH/s;
An order of Avalon chips from steamboat's batch #1, for 68 Klondike-16 boards, rated at 68*16*282 = 307 GH/s;

When will the Avalon chips from steamboat's batch #1 be available for mining?

Are there any AMC shares existing now?

Finally, we won't have to read through a bunch of garbage to get to relevant information and announcements.

Wasn't this already covered?

Smart move making the announcements section separate, and starting a new thread will help make things clear. I couldn't read that abortion of a thread any longer.

Glad to see a new start, maybe information will be clearer now, clean from continuous trolling.

This is a self-moderated topic. If you do not want to be moderated by kslaughter who started this topic, create a new topic of your own.  This thread will be moderated and messages will be deleted at the moderators discretion.

Active Mining Announcements

ActiveMining F.A.Q.

What is ActiveMining?
ActiveMining is the natural evolution of two previous projects: Active Mining Cooperative (creating a bitcoin mining farm) and Virtual Mining Corporation (selling bitcoin mining hardware), that are now unified under the roof of ActiveMining. Both original contract proposals were quite complex, so we decided to rip them apart and start from scratch, using the same tried and tested model of Asicminer. This allows for a much needed flexibility that is key in the bitcoin world.

Where can I buy ActiveMining shares?
Currently, there is only one way to do that:

• You can buy ActiveMining shares directly from CryptStocks

What is the Virtual Mining Corporation (VMC)?
VMC is a subsidiary of ActiveMining that is in charge of building hardware. Think of it as a department of ActiveMining, with all its profits funneled into ActiveMining shareholders.

So, where can I see the current ActiveMining hashrate and mining profits?
Currently ActiveMining mines on BTC Guild at around ~700GH/s, as User 211435 and as Team AMC. Accumulated mining profits are stored in BTC address 1DJpsvnM7xTnQbWEhLYyCyfxQyxwupEzCa. Here's a graph of that.

What are the current plans for chip development?
ActiveMining is developing a 28nm Bitcoin mining chip using eASIC.

• Chip samples delivered in 9 weeks;
• Low-volume chip production starting in 12 weeks, using an e-beam process;
• Normal volume chip production starting in 16-18 weeks.

Can you please provide some documents as proof of the existing claims?
Engineering Firm quote for the machines that will host the incoming Avalon chips: http://axs.net/AMC/SB-Prototype-Quote.jpg
eASIC chip NDA: http://axs.net/AMC/eAsic-NDA0001.jpg and http://axs.net/AMC/eAsic-NDA0002.jpg
eASIC Press Releases

Introduction
ActiveMining is a virtual identity totally owned by the Active Mining Corporation (Belize) that represents both itself and its profits. ActiveMining's business includes cryptocoin mining and sales of self-built ASIC devices through its wholly owned subsidiary Virtual Mining Corporation (VMC).

Currently, it is expected for interested ActiveMining's public investors to hold 10,000,000 ActiveMining shares (40% of the profits), while Active Mining Corporation owner(s) shall hold 15,000,000 ActiveMining shares (60% of the profits), for a total of 25,000,000 ActiveMining virtual shares that represent 100% of the global profits of ActiveMining.

The issuing of more ActiveMining shares can be allowed in the future, as a last resort measure and after a shareholder's vote, provided there is strong economic justification, mainly on the basis of covering emergent capital needs. Existing shareholders also get the first choice for buying new shares before they are sold on the open market. The volume of new shares shall be kept at a minimum as much as possible and the pricing of them should be such that the total value of all ActiveMining's assets (tangible and intangible) per ActiveMining share does not diminish, protecting shareholders as much as possible from future dilution of value.

Public investor's protection plan
The first 10,000,000 ActiveMining shares have the privilege of getting all profits until BTC0.0025/share is paid, starting from the day when dividends begin to be paid.

How to buy shares
ActiveMining shares will be sold on BitFunder and BTCT.CO and any other exchange, following asset approval or tendered by AMC shares. Existing Active Mining Cooperative (AMC) shareholders will be entitled to tender their shares for ActiveMining shares, on a 1:1 basis and are also covered in the public investor's protection plan.

Dividend payment
The global ActiveMining's income, including mining income, hardware sales via bitcoins, other cryptocoins and fiat transferred to bitcoins, will be paid to ActiveMining shareholders proportionally, when all manufacturing, maintenance, labor costs, R&D, growth and miscellaneous expenses are deducted. The first BTC0.0025/share dividends will only be paid to the first 10,000,000 ActiveMining shares, providing public investors a priority in getting back 100% return of their investment.

Our chips in development
Generation 1: Fast-Hash. 28nm. Each chip's rated frequency is 800 MHz at 1.15V. It translates to 16,000 MH/s because it does 20 hashes per cycle. Chip requires proper handling of heat and power supply. It is expected the chip can be overclocked to 1000 MHz @ 20,000 MH/s.
eASIC Press Release

"Our existing hardware assets from AMC liquidation

• 6 Avalon miners, currently running on BTC Guild under "Team AMC" for around 430 GH/s;
• An order of Avalon chips from steamboat's batch #1, for 68 Klondike-16 boards, rated at 68*16*282 = 307 GH/s;

AMC owns Virtual Mining Corporation (VMC) which is a manufacturer of Bitcoin Mining Machines:

Virtual Mining Website

VMC Website:

July Visitors:           10,135
August Visitors:       12,676
September Visitors: 26,894 9/19.      



VMC Sales:

2013 sales $6,311,788.33