Topic: Now seeking investors for BitCorp Mining Company [Now pushing 40 GH/s!] - page 4. (Read 17205 times)

Just curious, why you do not offer your shares through GLBSE?

How do you transact the sales of shares and distribution of dividends?

Best,
SJ

Hi,
Just saw your post.I'm just looking around for the best price on an HD5770 GPU.I'm just interested in how much these will sell for from you compared to say other online shops.The reason I ask is if I need a spare GPU in future (to complement my HD6950) or as a fallback GPU (because the current PSU in my system can't cope with my HD6950 being so heavily OC'd and shuts itself down/freezes when overloaded.If I can find a good price on an HD5770,used I can continue mining until I make enough for a new PSU as a good PSU costs over £150 in UK=~$280 I think)

What would you be selling those HD5770 cards for? How much would they be in UK £ sterling plus shipping to UK (if from US/overseas)?

What performance can I expect from this GPU (HD5770) and what is the best OC that could be achieved in your experience without crashing? my HD6950 gets me 402 M/hashes (anything above that and PSU freezes my PC due to overloading)

Thank you

Closed the books on November last night, and once again we had our best month yet!


Production (in BTC)                                      315.11
Operating Expenses (in BTC)                           90.50
Free BTC available to shareholders                  224.61


The dividend payment for November will be sent out to shareholders of record no later than midnight tonight, EST. 

Our goal for December is to produce 350 BTC. 

Our existing expansion plan is nearing an end.  We are around 90% of what is possible, and we will probably be unable to make it to our initial goal of 15 GH/s.  However, it does seem likely that we can top out around 14 GH/s. 

During the month of November, our major upgrade was swapping out 5x 5770's for 5850's.  We were able to aquire the 5850's for a very competitive price, and will spread the expense of those cards over the next 6 months of financials.

If you are in the market for some lightly used 5770's, let us know!

We added one shareholder during the month, and are glad to have them on board.  Please contact us if you would like to become a shareholder as well.   

I would like to be an investor in this company.How many shares left and at what price?

How things are going?

This is going to sound like a copout but I don't know.    The issue may be that for me any return high enough to warrant the risk makes the business plan nonviable.  I believe this is currently freezing up a lot of capital in bitcoin economy. 

Still if I had to guess lets compare it to me buying another mininig rig.

If I were to build a new miner.  Say 4x 5970s, 1500W powersupply, cheap MB, CPU, RAM usb drive running linuxcoin, open frame rig ... ballpark.  2.8GH costing $2800.   After electrical costs ($0.10 per kWh) I would net at current difficulty & price 30BTC or $150 a month giving me a monthly return of 5%.

So I could buy shares from you returning 1.25% per month or buy my own rig returning 5% a month.  Now obviously difficult may increase and/or price may drop but if it does it will affect my profitability equally if I own a rig or own shares so for now lets just assume the difficult/price relationship remains solid.

Now there are some difference between me owning/running my own rig and owning shares.
1) w/ shares I don't need to do anything. 
2) w/ shares I don't need to devote space/heat/noise to the venture.
3) w/ owning a rig I have material ownership of the assets (I can sell parts on ebay for partial return if things go south)
4) w/ owning a rig I have no risk of fraud.

Honestly I don't think the pros of shares outweigh risk of shares but lets say an investor considers them equivalent that would put fair return @ 60% annually.  The company wouldn't need to pay all of that as a dividend as long as it has a plan to build out capacity but I would want to see at least half that as a dividend.   

So 30% would be the minimum for me (personally) to consider it.  Given the higher risk I think it would take a return of 40%-50% before I would consider it. 

  Whats to stop you from dropping in another breaker and a few feet of good wiring? Do it yourself and get an elec friend to sign off on it. ;p  Or, don't tell anyone and save a few bucks, though I don't recommend that method.

  Whats to stop you from dropping in another breaker and a few feet of good wiring? Do it yourself and get an elec friend to sign off on it. ;p  Or, don't tell anyone and save a few bucks, though I don't recommend that method.

We have closed the books on October....here are the numbers:

Production:         187.56 BTC
expenses:             66.00 BTC
Free BTC flow:     121.56 BTC


I will update these numbers on the front page as well.

The drop in difficulty has sent our production way up.....November is off to a GREAT start.  We have a couple more GPU's that we can add once we find an open PCI slot....but after that we are probably close to maxing out.  Unfortunately we learned that we are running on 20 AMP breakers, so we are limited on how many machines we can place on each circuit. 

The good news is with 12-14 GH/s, we can mine a whole lot of BTC. 

Anyone interested in purchasing some shares, get in touch with us.  We would love to have a few more people on board.

I'm not an investor here, but it's refreshing to see (what seems to be) a legitimate mining company doing well.  I know you got a lot of flak in the beginning, but i haven't noticed any other qualms and you continue to update.

Good work!