Now seeking investors for BitCorp Mining Company [Now pushing 40 GH/s!] - page 9.

yochdog

legendary

Activity: 2044

Merit: 1000

Quote from: sadpandatech on September 24, 2011, 12:23:00 PM

Quote from: yochdog on September 23, 2011, 02:33:11 PM

Company Locations and Facilities
We have three locations:
1) A residential office, with 3,000 MH/s of capacity. Upgradable and expandable.
2) 2,000 SF class A office space with 3,000 MH/s of capacity. Nearly maxed out on capacity.
3) 3.500 SF class A office space with 4,500 MH/s of capacity. Large additional capacity.

Sorry if this was answered and I assume its included in your 'expenses by BTC' but can we get a breakdown of your electricity cost per KWH at each of these locations and a total average of what that is and what it will be at the start of the next month for all facilities combined? Do you forsee this cost going up or down with any change of contract for the electricty at any or all of the facilities?

Cheers

We are not giving out a breakdown of the cost per location, but electricity rates are .08 per kw at residential, and .06 at the offices.

iamzill

sr. member

Activity: 677

Merit: 250

Quote from: yochdog on September 24, 2011, 11:49:14 AM

Quote from: iamzill on September 24, 2011, 11:36:58 AM

Are you sure your production numbers are correct? I'm producing half of what you are producing and I only invested $2000 in hardware. I thought the point of a corporation is to take advantage of the economies of scale.

Great observation. We did not hit our current 10,000 MH/s until early this month. I expect that our September production will be close to 175 BTC.

That's more like it. Do you plan to expand further or just keep the current rate?

sadpandatech

hero member

Activity: 504

Merit: 500

Quote from: yochdog on September 23, 2011, 02:33:11 PM

Company Locations and Facilities
We have three locations:
1) A residential office, with 3,000 MH/s of capacity. Upgradable and expandable.
2) 2,000 SF class A office space with 3,000 MH/s of capacity. Nearly maxed out on capacity.
3) 3.500 SF class A office space with 4,500 MH/s of capacity. Large additional capacity.

Sorry if this was answered and I assume its included in your 'expenses by BTC' but can we get a breakdown of your electricity cost per KWH at each of these locations and a total average of what that is and what it will be at the start of the next month for all facilities combined? Do you forsee this cost going up or down with any change of contract for the electricty at any or all of the facilities?

Cheers

yochdog

legendary

Activity: 2044

Merit: 1000

Quote from: iamzill on September 24, 2011, 11:36:58 AM

Are you sure your production numbers are correct? I'm producing half of what you are producing and I only invested $2000 in hardware. I thought the point of a corporation is to take advantage of the economies of scale.

Great observation. We did not hit our current 10,000 MH/s until early this month. I expect that our September production will be close to 175 BTC.

iamzill

sr. member

Activity: 677

Merit: 250

Are you sure your production numbers are correct? I'm producing half of what you are producing and I only invested $2000 in hardware. I thought the point of a corporation is to take advantage of the economies of scale.

yochdog

legendary

Activity: 2044

Merit: 1000

Quote from: GimmeDemBitz on September 24, 2011, 10:30:38 AM

Quote from: buttcoin1 on September 23, 2011, 07:16:28 PM

Yes, it totally goes against everything this community stands for.

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.

I will take that bet. How much?

GimmeDemBitz

newbie

Activity: 14

Merit: 0

Quote from: buttcoin1 on September 23, 2011, 07:16:28 PM

Yes, it totally goes against everything this community stands for.

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.

yochdog

legendary

Activity: 2044

Merit: 1000

I have recieved a great response about BitCO. We have lined up several investors, and are really looking forward to being a part of a legitimate Bitcoin business.

If anyone is still interested, and has not contacted us yet, we are still looking for a couple more investors for this first round of share sales.

Thanks to all those who have provided feedback and given us suggestions.

buttcoin1

jr. member

Activity: 56

Merit: 1

Yes, it totally goes against everything this community stands for.

1. Create a post about my 'business'
2. Collect coins
3. ?

repentance

hero member

Activity: 868

Merit: 1000

I'd just like to say how nice it is to finally see someone who's seeking outside investors providing a coherent business proposal which includes financials and a stratplan.

miner3gazillionand8

newbie

Activity: 14

Merit: 0

nm. asked for an answer that was already there above.

yochdog

legendary

Activity: 2044

Merit: 1000

Quote from: DeathAndTaxes on September 23, 2011, 02:58:52 PM

I like the proposal.

Can you estimate how much capacity space you have at all three locations.
Do you have any photos of your rigs / datacenter?
What is the company cost to rent/occupy the three locations?

We are fairly confident we can expand to 15 GH/s before we run into issues. We do have photos, and will share them with serious potential investors who show interest.

On the cost of occupancy....we have co-located our miners in space already in use for our other ventures (read: we have other business'). Thus we are not charging BitCO for physical space, as we would be charging ourselves. Going forward, we do not plan on charging for occupancy.

yochdog

legendary

Activity: 2044

Merit: 1000

Quote from: DeathAndTaxes on September 23, 2011, 02:54:41 PM

Quote

BitCO currently has 1,000 shares outstanding, and no more will be issued. We would like to sell 100 shares initially,

Huh

It it has 1000 shares already outstanding and no more will be issued then how are you selling 100 shares?

Is the company selling shares (to raise capital for the company) or is an existing shareholder selling their shares (no capital to company, merely ownership change).
Maybe it is just the wording but I read it a couple times and kept coming back to Huh

Sorry about the confusion.

Current shareholders are selling, this is not a capital raise. Shares outstanding will stay at 1,000, but ownership will now be split 90% to me and my CTO, 10% to outside investors.

DeathAndTaxes

donator

Activity: 1218

Merit: 1079

Gerald Davis

I like the proposal.

Can you estimate how much capacity space you have at all three locations.
Do you have any photos of your rigs / datacenter?
What is the company cost to rent/occupy the three locations?

DeathAndTaxes

donator

Activity: 1218

Merit: 1079

Gerald Davis

Quote

BitCO currently has 1,000 shares outstanding, and no more will be issued. We would like to sell 100 shares initially,

Huh

It it has 1000 shares already outstanding and no more will be issued then how are you selling 100 shares?

Is the company selling shares (to raise capital for the company) or is an existing shareholder selling their shares (no capital to company, merely ownership change).
Maybe it is just the wording but I read it a couple times and kept coming back to Huh

yochdog

legendary

Activity: 2044

Merit: 1000

nt

Topic: Now seeking investors for BitCorp Mining Company [Now pushing 40 GH/s!] - page 9. (Read 17205 times)