Many of you may have contributed to or followed my previous thread asking for input on a new mining operation
https://bitcointalksearch.org/topic/glbse-help-me-define-a-new-mining-operation-66204I've had a chance to do some reflection on a strategy for a new mining company while incorporating many of your excellent ideas. Below is a
DRAFT of the IPO. I would like your input before I finalize it.
Fresca Mining (Planned GLBSE symbol:
Fresca) will produce comparatively higher returns by leveraging low cost electricity ($0.052/kwh) and dense GPU rigs for high profitability bitcoin and namecoin mining. The company will issue weekly dividends but retain some earnings to grow the company. The company will be able to share infrastructure such as switched PDUs, Cisco network equipment, and data center space with my personal mining farm to save costs and maximize profitability.
Initial hashrate: 9.3 GH/s (I have them running now as the user "Fresca" on maxbtc.com - note that they are currently running at stock speeds until I tune then, hence the lower hash rate)
Hardware (4 rigs as follows):
(seen here as I set them up)
- MSI 890FXA-GD70 motherboard
- Antec TPQ-1200 1200W 80plus Silver PSU
- AMD Sempron 145 CPU
- G.Skill 1GB DDR3 RAM
- Kingston 4GB USB drive
- 3 x MSI or XFX 6990 GPUs
- 208v power via Server Tech Sentry switched PDU
- Gigabit Ethernet connection on Cisco managed switch
- Coolermaster 230mm fan
Dividends- Dividends will be issued weekly
- Dividends will be calculated as net earnings divided by number of shares held
- Net earnings are earnings after retaining 30% for growth and costs of depreciation, power, internet, and facility
- At present BTC price and difficulty this would result in approximately
0.004 0.006 btc/share
Reinvestment and growth- 30% of earnings will be set aside to ensure stable dividend payouts and to fund growth
- Acquisition of new hardware will be funded through reinvestment of retained earnings as opposed to issuance of further shares, unless otherwise decided by shareholders through a motion
- Future plans include the purchase of more rigs based on the most profitable technology at the time of purchase and a move to a new data center than offers power under $0.03/kwh
Policies and Records- My goal is to be transparent in all finances. I will keep track of finances in a Google Docs spreadsheet available to everyone
- Changes in company direction, dividend calculation, acquisition of new hardware, dissolution, or other important changes will be put to shareholder vote. Because I already have a large mining farm of my own, I am happy to be very flexible with the direction of this mining company.
Ownership4,000 3,333 shares will be created2,000 1,666 shares will be held by me (50% - 1 share)2,001 1667 will be available for purchase (50% + 1 share)- Anticipated purchase price will be 1 btc
UPDATE 1:
I have reduced the number of shares while maintaining the share price in order to further enhance the competitiveness of this offering.
