About:KnCMiningOp is currently mining with 3 Jupiter's around 1.5TH/s and 47 members. We have a KnC Neptune on pre-order that was paid for with the re-investment fund this morning. There has been a ton of interest from existing group buy members and non members to buy additional shares in the group buy. As a result I have decided to open up additional shares with out diluting current shares in the below format.
You can check out our stats page here:
http://54.243.221.120/ (Note on Jupiter 3's hash rate: 3/4 chip have been RMA'ed and are estimated to be back up and hashing by tomorrow Nov/27th.)
Investment info:1000 shares total per Neptune:
750 shares public.
50 shares to myself for management.
200 shares being issued to the mining operation. These dividends are deposited into the re-investment fund and used to buy additional hardware.
For each 750 shares that are sold will represent a Neptune. So for example if there is enough interest that 1500 shares sell. 2 Neptune's will be bought, if 2250 shares sell 3 Neptune's and etc. Any remainder of shares will be refunded.
Dividends:Get paid weekly on Saturdays.
Please note that these additional group buy shares will not start receiving a dividend until your unit is up and mining.
Reinvestment Fund Details:I will use the way the pre-ordered Neptune will play into the existing shares/math:
Back in June-August I was able to get around 50 people to invest with me into 3 Jupiter's for a total of 1.5TH. There were 3000 shares sold back then so each share currently is worth around 500 MH/s when the Neptune that was paid for this morning will come online each share will be 1500 MH/s with out adding any shares. When the 2nd Neptune is added each share would be 1875 MH/s with adding 1000 shares. As each additional device is rolled into the existing pool the per share MH/s should increase. When another device is added with the reinvestment fund monies the MH/s per share will increase.
Costs:One-Time Neptune: $10,200
Shelf & misc: $100
2 - 3 PSU: $400-600
Electric circuits installation: $500-$2,500
Weekly:
Miner estimated power usage: ~$60
Monthly:
Rent: $0
Internet: $0
Management Fee: $0
Future Plans:Save profits and buy additional units.
Payment & Escrow:Please setup your own escrow, I recommend blockchain.info or John K escrow.
Or the mining op address is: 1vsNpyK548ew789iKTXprsK2SKYvMyiXD
When you send your payment please pm me the txid, your dividend address and your email address.
Price per share is
.016 .014 .018 BTC or
$13.6 $18 USD.
FAQ:Are the shares transferable?Yes they are.
Can I pay with USD?Yes I'll accept certain methods of payment via fiat. Please PM me to work out the details.
Can I pay with Paypal?No, my Paypal account got shutdown for bitcoin activities that Paypal deemed too high risk. Even though not a single charge back has ever been filled against me.
Can I pay via Havelock, CryptoStock or Coinbase BTC transfer?Yes you may. Please PM me for details.
What are the dividend expectations per share?See the Dividend Yield Estimates sheet here:
https://docs.google.com/spreadsheet/ccc?key=0ArPW9Lus2VT5dFpZbndNSXY0Y1RjTVFDQzlxUW1yS3c#gid=1What happens if BTC drops in price by the time the miner(s) is paid for?I will ask everyone to send in a little extra BTC per share. If you paid with cash you won't need to pay anything more.
You will also have the option for a refund if you don't want to send any more, less any fees.
Has this unit been ordered yet and/or when will this ship?Yes it has been ordered and depending on when the order is paid for depends on when it will ship.
Any other questions please PM me.
