Will have final numbers for the month of March soon, but here is our preliminary production:
433.34 BTC produced.
Topic: Now seeking investors for BitCorp Mining Company [Now pushing 40 GH/s!] - page 3. (Read 17205 times)
April 02, 2012, 03:47:01 PM
March 31, 2012, 01:10:13 AM
Exciting news to report to current as well as potential investors:
-Our average Hashing rate has increased to 23,500 MH/s!
-We are planning on listing shares on GLBSE within the next 6 weeks.
We are investigating how we will transfer current owners shares onto the exchange, stay tuned.
-Our average Hashing rate has increased to 23,500 MH/s!
-We are planning on listing shares on GLBSE within the next 6 weeks.
We are investigating how we will transfer current owners shares onto the exchange, stay tuned.
Very exciting news!
March 30, 2012, 09:18:45 PM
this is great i will be investing on glbse, also do you have some butterfly labs singles or other fpgas to help keep power costs down so better roi ?? March 26, 2012, 11:19:21 AM
Exciting news to report to current as well as potential investors:
-Our average Hashing rate has increased to 23,500 MH/s!
-We are planning on listing shares on GLBSE within the next 6 weeks.
We are investigating how we will transfer current owners shares onto the exchange, stay tuned.
-Our average Hashing rate has increased to 23,500 MH/s!
-We are planning on listing shares on GLBSE within the next 6 weeks.
We are investigating how we will transfer current owners shares onto the exchange, stay tuned.
March 02, 2012, 12:29:30 PM
February is in the books, and we are very happy with our results. We generated 416.44 BTC during the month, and pushed our mining speed to over 22,000 MH/s! We are still working on getting everything stable at this speed, but our progress has been very encouraging. Our build-out program is nearly complete and we plan on very little further investment until we can assess the impacts of the reduction in the rewards coming up.
Production (in BTC) 416.44
Operating Expenses (in BTC) 300.00
Free BTC flow 116.44
We are amortizing the purchase of new hardware over the next several months, thus operating expenses will remain elevated during that time. By mid-summer, we should be back to very low expenses and be turning a 300+ BTC profit.
Financials have been updated on the first page.
Production (in BTC) 416.44
Operating Expenses (in BTC) 300.00
Free BTC flow 116.44
We are amortizing the purchase of new hardware over the next several months, thus operating expenses will remain elevated during that time. By mid-summer, we should be back to very low expenses and be turning a 300+ BTC profit.
Financials have been updated on the first page.
February 21, 2012, 04:12:28 PM
Time for a mid-month update!
Things are going great through the fist 20 days of January. We have generated revenue of just over 250 BTC, and should be able to easily exceed 350 for the entire month.
Capacity continues to grow beyond my initial expectations, with our peak hashing speed now sitting at 16,900 MH/s!! I know believe with some more opportunistic tweaking and GPU upgrades we can reach the magical 20,000 MH/s, truly putting us in the elite of hashing operations.
Now for the catch.....to hit these ever increasing hash rates, we have in the last 30 days purchased 4x 7970's, 2x 5970's, and one full mining rig capable over of 1,000 MH/s+.
These are obviously major expenses, and will keep our profits down for the next several months. I will amortize the expense over the next 4-6 months, in order to maintain our dividend at current rates. The upshot is that with the price of BTC seeing the substantial rise it has over the last 6 weeks, it takes much less BTC to purchase these upgrades than before!
Feel free to ask any questions!
Things are going great through the fist 20 days of January. We have generated revenue of just over 250 BTC, and should be able to easily exceed 350 for the entire month.
Capacity continues to grow beyond my initial expectations, with our peak hashing speed now sitting at 16,900 MH/s!! I know believe with some more opportunistic tweaking and GPU upgrades we can reach the magical 20,000 MH/s, truly putting us in the elite of hashing operations.
Now for the catch.....to hit these ever increasing hash rates, we have in the last 30 days purchased 4x 7970's, 2x 5970's, and one full mining rig capable over of 1,000 MH/s+.
These are obviously major expenses, and will keep our profits down for the next several months. I will amortize the expense over the next 4-6 months, in order to maintain our dividend at current rates. The upshot is that with the price of BTC seeing the substantial rise it has over the last 6 weeks, it takes much less BTC to purchase these upgrades than before!
Feel free to ask any questions!
Would it be possible to get an update like last month? Thnx
Working on it! Been pretty swamped tuning up the shiney new 7970's, as well as re-jiggering rigs for more density. It is like a waterfall effect as GPU's filter down through the rigs, with the least efficient getting spit out. I will have an update at the end of this month that will lay out our plan for the next couple months, and recap the financials for the last 60 days.
Stay tuned.....
February 21, 2012, 04:04:35 PM
Time for a mid-month update!
Things are going great through the fist 20 days of January. We have generated revenue of just over 250 BTC, and should be able to easily exceed 350 for the entire month.
Capacity continues to grow beyond my initial expectations, with our peak hashing speed now sitting at 16,900 MH/s!! I know believe with some more opportunistic tweaking and GPU upgrades we can reach the magical 20,000 MH/s, truly putting us in the elite of hashing operations.
Now for the catch.....to hit these ever increasing hash rates, we have in the last 30 days purchased 4x 7970's, 2x 5970's, and one full mining rig capable over of 1,000 MH/s+.
These are obviously major expenses, and will keep our profits down for the next several months. I will amortize the expense over the next 4-6 months, in order to maintain our dividend at current rates. The upshot is that with the price of BTC seeing the substantial rise it has over the last 6 weeks, it takes much less BTC to purchase these upgrades than before!
Feel free to ask any questions!
Things are going great through the fist 20 days of January. We have generated revenue of just over 250 BTC, and should be able to easily exceed 350 for the entire month.
Capacity continues to grow beyond my initial expectations, with our peak hashing speed now sitting at 16,900 MH/s!! I know believe with some more opportunistic tweaking and GPU upgrades we can reach the magical 20,000 MH/s, truly putting us in the elite of hashing operations.
Now for the catch.....to hit these ever increasing hash rates, we have in the last 30 days purchased 4x 7970's, 2x 5970's, and one full mining rig capable over of 1,000 MH/s+.
These are obviously major expenses, and will keep our profits down for the next several months. I will amortize the expense over the next 4-6 months, in order to maintain our dividend at current rates. The upshot is that with the price of BTC seeing the substantial rise it has over the last 6 weeks, it takes much less BTC to purchase these upgrades than before!
Feel free to ask any questions!
Would it be possible to get an update like last month? Thnx
February 01, 2012, 07:38:10 PM
UPDATE ON JAN 24th We are making initial preparations for public listing on GLBSE! Our ticker symbol is BMC (Bitcorp Mining Company). Interested parties are welcome to purchase shares through GLBSE. Current shareholders will continue to recieve dividends as promised, and need to contact us to transfer shares to GLBSE if desired.
At this point, we are simply playing around with the beta version of GLBSE 2.0.....but plan on going live soon.
At this point, we are simply playing around with the beta version of GLBSE 2.0.....but plan on going live soon.
Is this plan moving forward?
Still waiting on the verion 2.0 to go live. Once it does, I will be contacting all current shareholders with instructions on how to transfer shares to GLBSE for trading.
February 01, 2012, 07:31:10 PM
UPDATE ON JAN 24th We are making initial preparations for public listing on GLBSE! Our ticker symbol is BMC (Bitcorp Mining Company). Interested parties are welcome to purchase shares through GLBSE. Current shareholders will continue to recieve dividends as promised, and need to contact us to transfer shares to GLBSE if desired.
At this point, we are simply playing around with the beta version of GLBSE 2.0.....but plan on going live soon.
At this point, we are simply playing around with the beta version of GLBSE 2.0.....but plan on going live soon.
Is this plan moving forward?
February 01, 2012, 10:47:46 AM
Dividends were paid to shareholders of record thismorning.
Financials will be updated once we tally all the numbers.....we just recently switched pools to avoid fees, which should help in the long run, but hurt us a little during the transition.
Financials will be updated once we tally all the numbers.....we just recently switched pools to avoid fees, which should help in the long run, but hurt us a little during the transition.
January 24, 2012, 11:59:32 AM
UPDATE ON JAN 24th We are making initial preparations for public listing on GLBSE! Our ticker symbol is BTCMC (Bitcorp Mining Company). Interested parties are welcome to purchase shares through GLBSE. Current shareholders will continue to recieve dividends as promised, and need to contact us to transfer shares to GLBSE if desired.
At this point, we are simply playing around with the beta version of GLBSE 2.0.....but plan on going live soon.
At this point, we are simply playing around with the beta version of GLBSE 2.0.....but plan on going live soon.
January 20, 2012, 01:31:08 PM
Time for a mid-month update!
Things are going great through the fist 20 days of January. We have generated revenue of just over 250 BTC, and should be able to easily exceed 350 for the entire month.
Capacity continues to grow beyond my initial expectations, with our peak hashing speed now sitting at 16,900 MH/s!! I know believe with some more opportunistic tweaking and GPU upgrades we can reach the magical 20,000 MH/s, truly putting us in the elite of hashing operations.
Now for the catch.....to hit these ever increasing hash rates, we have in the last 30 days purchased 4x 7970's, 2x 5970's, and one full mining rig capable over of 1,000 MH/s+.
These are obviously major expenses, and will keep our profits down for the next several months. I will amortize the expense over the next 4-6 months, in order to maintain our dividend at current rates. The upshot is that with the price of BTC seeing the substantial rise it has over the last 6 weeks, it takes much less BTC to purchase these upgrades than before!
Feel free to ask any questions!
Things are going great through the fist 20 days of January. We have generated revenue of just over 250 BTC, and should be able to easily exceed 350 for the entire month.
Capacity continues to grow beyond my initial expectations, with our peak hashing speed now sitting at 16,900 MH/s!! I know believe with some more opportunistic tweaking and GPU upgrades we can reach the magical 20,000 MH/s, truly putting us in the elite of hashing operations.
Now for the catch.....to hit these ever increasing hash rates, we have in the last 30 days purchased 4x 7970's, 2x 5970's, and one full mining rig capable over of 1,000 MH/s+.
These are obviously major expenses, and will keep our profits down for the next several months. I will amortize the expense over the next 4-6 months, in order to maintain our dividend at current rates. The upshot is that with the price of BTC seeing the substantial rise it has over the last 6 weeks, it takes much less BTC to purchase these upgrades than before!
Feel free to ask any questions!
January 16, 2012, 01:27:16 AM
can someone tell me the bitcorp p/e without making me visit the globesex website?
By my rough calculations, Bitcorp is priced at a P/E of 4.
I got there by taking the market cap of the company (8,000 BTC) and dividing it into my projections of annual income of 2,000 BTC.
January 16, 2012, 01:19:04 AM
can someone tell me the bitcorp p/e without making me visit the globesex website?
January 16, 2012, 01:14:22 AM
I realized we never updated our financials for the month of December, so here they are!
Production (in BTC) 338.12
Operating Expenses (in BTC) 129.82
Free BTC flow 208.30
Dividends were sent out on the first of this month at a rate of .125 BTC per share. We intend to keep that rate for the next 2 months, then consider another increase.
We recently purchased some 7970's, and expect to reap significant efficiency gains from them. Excited to see what they can do for us.
-Bitcorp.
Production (in BTC) 338.12
Operating Expenses (in BTC) 129.82
Free BTC flow 208.30
Dividends were sent out on the first of this month at a rate of .125 BTC per share. We intend to keep that rate for the next 2 months, then consider another increase.
We recently purchased some 7970's, and expect to reap significant efficiency gains from them. Excited to see what they can do for us.
-Bitcorp.
January 15, 2012, 10:29:40 PM
PM sent
January 08, 2012, 05:36:11 PM
Hey Yochdog, I noticed you are using Deepbit - was just interested in your reasoning for this choice. (Not trying to start a flamewar or anything) It just seems to me that the associated fees might be something that would nibble into your business's profits, and I wondered how much the monthly difference revenue difference might be versus using some other pool. I assume you have explored other options, of course.
You certainly make a great point.....at this juncture, it is more about not wanting to take the time to change the setting on 30+ miners scattered around different locations, many without monitors.
I kind of figured it as a cost of doing business, figuring we are sacrificing 3 coins every 10 days or so.
I am sure one of these days I will get a wild hare up my a** and make the plunge in changing all the settings......have just been too focused on expansion for the last few months.
Alternatively, cgminer recently obtained RPC control courtesy of a sizeable bounty - if you have a programmer friend, he could probably code up an app to change cgminer settings remotely.
January 08, 2012, 05:23:29 PM
Hey Yochdog, I noticed you are using Deepbit - was just interested in your reasoning for this choice. (Not trying to start a flamewar or anything) It just seems to me that the associated fees might be something that would nibble into your business's profits, and I wondered how much the monthly difference revenue difference might be versus using some other pool. I assume you have explored other options, of course.
You certainly make a great point.....at this juncture, it is more about not wanting to take the time to change the setting on 30+ miners scattered around different locations, many without monitors.
I kind of figured it as a cost of doing business, figuring we are sacrificing 3 coins every 10 days or so.
I am sure one of these days I will get a wild hare up my a** and make the plunge in changing all the settings......have just been too focused on expansion for the last few months.
January 08, 2012, 05:19:17 PM
Hey Yochdog, I noticed you are using Deepbit - was just interested in your reasoning for this choice. (Not trying to start a flamewar or anything) It just seems to me that the associated fees might be something that would nibble into your business's profits, and I wondered how much the monthly difference revenue difference might be versus using some other pool. I assume you have explored other options, of course.
January 08, 2012, 04:35:43 PM
Yes, it totally goes against everything this community stands for.
1. Create a post about my 'business'
2. Collect coins
3. ?
1. Create a post about my 'business'
2. Collect coins
3. ?
Looks like we have another addition to the bitcoin 'business' dead pool. My money is on one week until they disappear with investor's money.
Just wanted to gloat a bit over how ignorant this post was.
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