I've put together a draft of the new mining operation.
You can find it in this new thread:
https://bitcointalksearch.org/topic/glbse-fresca-mining-ipo-launching-soon-74044
Topic: [GLBSE] Help me define a new mining operation (Read 2534 times)
Thanks for your reply. 
And I would like to ask, when you say "Once I hit 50kVA in a month through expansion", do you mean you could already reach 50kVA to bring the electricity price down by installing these 30 new GPUs, or are you talking about some further expansion plan of your farm in this month?
And I would like to ask, when you say "Once I hit 50kVA in a month through expansion", do you mean you could already reach 50kVA to bring the electricity price down by installing these 30 new GPUs, or are you talking about some further expansion plan of your farm in this month?
I see how that phrase could be read a couple of different ways. My power company has a two tier pricing model - small and large commercial customers. The cut off between the two tiers is 50kVA of usage during a month. Thus, once I am meeting or exceeding that level of power usage, then then rate will come down. I did just speak with the power company and they told me that they review usage on an annual basis, not on a monthly basis. So it might have to convince them to consider changing the rate without waiting for the annual review if I'm using at least 50kVA.
A better scenario is for me to move my operation to a different county where the base power rate is already lower. Given that I'm nearing my power capacity at my current facility, that might be a necessary move. Meanwhile, I'll have to stick with the 5.2 cents/kwh, which is still quite good.
Hi everyone-
I'm looking for your ideas about what would be nice to see in a new mining organization with features that get people excited to invest and be an investor - something interesting and lucrative.
Here is the short of it:
I am looking for your suggestions on what you would want to see in a new mining operation. More dividends, more reinvestment, maximize profits, expansion into other uses for hashes (e.g. render farm, penetration testing, etc.)?? With your suggestions I hope to define the organization this weekend with an IPO next week.
I'm looking for your ideas about what would be nice to see in a new mining organization with features that get people excited to invest and be an investor - something interesting and lucrative.
Here is the short of it:
- In terms of credentials, I've been an active forum member for a long time and currently run a ~40Gh mining farm (mostly on maxbtc.com) - [note: this farm won't be part of the new mining company]
- I recently acquired 30 x 6990 GPUs in order to build a new ~18Gh farm
- I am looking to raise about 1000 btc in exchange for ownership in this new 18Gh farm
- The capital would be used to build rigs for the 6990's and upgrade power and ventilation in my data center
- Mining is quite profitable for me. I have facility and network fixed costs (which get lower as I add more rigs), but I only pay 5.2 cents/kwh in power
- Once I hit 50kVA in a month through expansion, or if I move to another county a bit further out, the power price will drop near 3 cents/kwh
I am looking for your suggestions on what you would want to see in a new mining operation. More dividends, more reinvestment, maximize profits, expansion into other uses for hashes (e.g. render farm, penetration testing, etc.)?? With your suggestions I hope to define the organization this weekend with an IPO next week.
Sounds cool, especially with such inexpensive power costs.
You said you acquired 30 new GPUs, plus your old ones, the total number of which may be near 100 GPUs. I heard even 50 GPUs are already a pain to manage. Are you planning to work on this full-time? Or will you need to hire someone else to do it?
I now have about 200 GPUs. It certainly is taking a lot of my time. I've been able to use some tools like BAMT to make things easier to monitor and manage. I would like for this to become a full time endeavor by the end of summer, but I'm not quite in a position to do that yet.
More IPO details coming tomorrow...
Thanks for your reply.
And I would like to ask, when you say "Once I hit 50kVA in a month through expansion", do you mean you could already reach 50kVA to bring the electricity price down by installing these 30 new GPUs, or are you talking about some further expansion plan of your farm in this month?
Hi everyone-
I'm looking for your ideas about what would be nice to see in a new mining organization with features that get people excited to invest and be an investor - something interesting and lucrative.
Here is the short of it:
I am looking for your suggestions on what you would want to see in a new mining operation. More dividends, more reinvestment, maximize profits, expansion into other uses for hashes (e.g. render farm, penetration testing, etc.)?? With your suggestions I hope to define the organization this weekend with an IPO next week.
I'm looking for your ideas about what would be nice to see in a new mining organization with features that get people excited to invest and be an investor - something interesting and lucrative.
Here is the short of it:
- In terms of credentials, I've been an active forum member for a long time and currently run a ~40Gh mining farm (mostly on maxbtc.com) - [note: this farm won't be part of the new mining company]
- I recently acquired 30 x 6990 GPUs in order to build a new ~18Gh farm
- I am looking to raise about 1000 btc in exchange for ownership in this new 18Gh farm
- The capital would be used to build rigs for the 6990's and upgrade power and ventilation in my data center
- Mining is quite profitable for me. I have facility and network fixed costs (which get lower as I add more rigs), but I only pay 5.2 cents/kwh in power
- Once I hit 50kVA in a month through expansion, or if I move to another county a bit further out, the power price will drop near 3 cents/kwh
I am looking for your suggestions on what you would want to see in a new mining operation. More dividends, more reinvestment, maximize profits, expansion into other uses for hashes (e.g. render farm, penetration testing, etc.)?? With your suggestions I hope to define the organization this weekend with an IPO next week.
Sounds cool, especially with such inexpensive power costs.
You said you acquired 30 new GPUs, plus your old ones, the total number of which may be near 100 GPUs. I heard even 50 GPUs are already a pain to manage. Are you planning to work on this full-time? Or will you need to hire someone else to do it?
I now have about 200 GPUs. It certainly is taking a lot of my time. I've been able to use some tools like BAMT to make things easier to monitor and manage. I would like for this to become a full time endeavor by the end of summer, but I'm not quite in a position to do that yet.
More IPO details coming tomorrow...
Hi everyone-
I'm looking for your ideas about what would be nice to see in a new mining organization with features that get people excited to invest and be an investor - something interesting and lucrative.
Here is the short of it:
I am looking for your suggestions on what you would want to see in a new mining operation. More dividends, more reinvestment, maximize profits, expansion into other uses for hashes (e.g. render farm, penetration testing, etc.)?? With your suggestions I hope to define the organization this weekend with an IPO next week.
I'm looking for your ideas about what would be nice to see in a new mining organization with features that get people excited to invest and be an investor - something interesting and lucrative.
Here is the short of it:
- In terms of credentials, I've been an active forum member for a long time and currently run a ~40Gh mining farm (mostly on maxbtc.com) - [note: this farm won't be part of the new mining company]
- I recently acquired 30 x 6990 GPUs in order to build a new ~18Gh farm
- I am looking to raise about 1000 btc in exchange for ownership in this new 18Gh farm
- The capital would be used to build rigs for the 6990's and upgrade power and ventilation in my data center
- Mining is quite profitable for me. I have facility and network fixed costs (which get lower as I add more rigs), but I only pay 5.2 cents/kwh in power
- Once I hit 50kVA in a month through expansion, or if I move to another county a bit further out, the power price will drop near 3 cents/kwh
I am looking for your suggestions on what you would want to see in a new mining operation. More dividends, more reinvestment, maximize profits, expansion into other uses for hashes (e.g. render farm, penetration testing, etc.)?? With your suggestions I hope to define the organization this weekend with an IPO next week.
Sounds cool, especially with such inexpensive power costs.
You said you acquired 30 new GPUs, plus your old ones, the total number of which may be near 100 GPUs. I heard even 50 GPUs are already a pain to manage. Are you planning to work on this full-time? Or will you need to hire someone else to do it?
Moxie has setup a very excellent WPA cracker service: https://www.wpacracker.com/
I'd say forget about all that for now and concentrate on your core business which is bitcoin mining...
I'd say forget about all that for now and concentrate on your core business which is bitcoin mining...
Promising, and I agree with you on all accounts in regards to GPUs/vFPGAs when power is cheap.
The most important element for me is a solid ROI.
BTW, what country is the data center located?
In regards to penetration testing do you mean renting out the processing power of password cracking (Cracking as a Service)? Pre-computing Rainbow tables and selling them or something else? I've thought about both of these as options...
I'll be watching for an IPO.
The most important element for me is a solid ROI.
BTW, what country is the data center located?
In regards to penetration testing do you mean renting out the processing power of password cracking (Cracking as a Service)? Pre-computing Rainbow tables and selling them or something else? I've thought about both of these as options...
I'll be watching for an IPO.
I'll definitely try my best for a solid ROI. That being said, changes in price and difficulty, mining luck, etc. will definitely keep me on my toes!
The data center is in Washington state - the cool Pacific Northwest where hydro power is plentiful and in the right places can be quite cheap.
For renting out processing power, I'm thinking first of password cracking, but honestly I've got my hands full with my bitcoin mining in the short term. I'm planning to set up a test rig soon with backtrack and figure out an optimal configuration. Rainbow tables are an option too, but haven't really spent much time fiddling with that yet.
Promising, and I agree with you on all accounts in regards to GPUs/vFPGAs when power is cheap.
The most important element for me is a solid ROI.
BTW, what country is the data center located?
In regards to penetration testing do you mean renting out the processing power of password cracking (Cracking as a Service)? Pre-computing Rainbow tables and selling them or something else? I've thought about both of these as options...
I'll be watching for an IPO.
The most important element for me is a solid ROI.
BTW, what country is the data center located?
In regards to penetration testing do you mean renting out the processing power of password cracking (Cracking as a Service)? Pre-computing Rainbow tables and selling them or something else? I've thought about both of these as options...
I'll be watching for an IPO.
I will be interested if you show a longer term growth strategy.
2.0 should be out pretty soon. My IPO was a few days ago, and we've already ordered six x6500s. Good luck, though I'm sure you won't need any 
- Garrett
- Garrett
Any update on this. I'd be on board for a few BTC when this IPOs.
Thanks for the interest. I've been a bit busy bringing online more equipment and working out what is the optimal starting point in terms of GH/s, strategy, and dividends vs. growth. Also, I've been waiting for GLBSE 2.0 to launch. I hope to have everything worked out this weekend.
Any update on this. I'd be on board for a few BTC when this IPOs.
This definitely looks interesting. I bought a short mining contract of about 40 GH/s from him a week or so ago. I can attest to his having of the rigs. Also, I currently have a decently sized loan out to him so he could get some more mining hardware. Speaking of which, I would love to get in contact with you so we can talk more about that loan. You can drop by on IRC or send me a PM.
A man want to reinvest can always use the proceeds buy more share of the company.
A man who want more dividend can always sell a little bit of the shares if the company reinvest.
No big deal.
A man who want more dividend can always sell a little bit of the shares if the company reinvest.
No big deal.
that doesn't change the value of the company your are invested in. and that is finally what most people are looking for i think - long term growth.
is this listed yet?
A man want to reinvest can always use the proceeds buy more share of the company.
A man who want more dividend can always sell a little bit of the shares if the company reinvest.
No big deal.
A man who want more dividend can always sell a little bit of the shares if the company reinvest.
No big deal.
Do 50/50, the problem with heavy re-investment is that it is difficult for external observers to differentiate from scamming.
rapid expansion plan
With investment, it should be possible to add capacity quickly. After a post-IPO built-out, my preference would be to reinvest and add capacity more than pay dividends. I'm thinking of a split of profits between reinvestment and dividends along the lines of 70/30.
Comments?
i thought quite alot about the rate of reinvestment to be done in the bitcoin mining business and came to the conclusion that btc-syndicates approach of reinvesting 100% isn't bad at all. bitcoin is growing rapid and steady, therefor a rapid and steady growing strategy should be applied.
i suggest 80/20. thats the ration i would apply if i had a mining business.
greets
rapid expansion plan
With investment, it should be possible to add capacity quickly. After a post-IPO built-out, my preference would be to reinvest and add capacity more than pay dividends. I'm thinking of a split of profits between reinvestment and dividends along the lines of 70/30.
Comments?
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