Topic: Starting a new FPGA mining farm/contract! Cognitive Resurrected on[Havelock] - page 158. (Read 300616 times)

That a pretty nice beginning to a website, i'll give you that

What is the expected return (assuming current PPS/difficult rates, and current cost of the hardware) for a single share?

Perhaps I will do it sooner. Working on a site ATM.

I have purchased a url and started to make a web site for this project. It will be ready to go tonight or tomorrow. I am currently getting verified with Nefario, the owner of GLBSE. We should be trading very soon

Update: the site is up! http://cognitivemining.com/

- Garrett

Thanks!

I'm going to launch right when GLBSE 2 comes online.

I wish you luck!
Let's hope you manage to get this operation funded

The electricity here is about $0.07/kwh. Well, My name is Garrett Ian MacDonald, I'm 16, and I live in Idaho, USA.


This PM I just sent explains that question:


I'm going to do this mainly for the fun if it, I'm not really concerned with the profit aspect of it. I don't have the resources to just buy the boards, so I thought this would be a really cool way to get into FPGA mining. In case you're wondering, I'm 16 and in high school and college right now. I'm hoping my lack of age doesn't drive away potential investors, but different people will have their opinions. If I raise 2500BTC and keep 10% of the shares, I'll be making about $50 a month, with no money paid into the investment and just some upkeeping of the boards/web site/keeping people informed, all of which I already do for other things.
Again, thanks for your interest and I hope this takes off
-Garrett


And in response to the second part of your question, GLBSE has an automated way of distributing dividends on a per share basis, so all I'll have to do is pay out the amount mined that week among all shares. I will have information on the future web site displaying things such as the current hash rate, market price, etc.

- Garrett

Edit: I think I'll also upload some videos of the progress of the cluster once I start getting everything. Fizzisist says he's overloaded with orders right now and he will be less busy in a few weeks. He said to just go by the bulk pricing for now.

What is the advantage of something like this? It seems like the administrative effort wouldn't be worth it to raise $4000. Do you have an automated way of calculating profit and distributing payment?

How is your electricity rates? Also, who are you specifically? You should provide identifyin g information to your investors.

I'm interested and following.

Important Update!

For those interested, I maintain a history of the OP of this thread here: http://cognitivemining.com/archives.html

Read the thread for most recent info!

This is a venture that started in March of 2012 to give investors the opportunity to own a portion of a FPGA mining cluster.

We currently use a large diversity of mining equipment, and always aim to invest in the latest and most efficient mining hardware. On the website, http://cognitivemining.com/ you can find our current inventory and dividend history. From March 2012 through October 2012, this asset was publicly traded on GLBSE, with asset ID Cognitive. From December 2012 through October 2013, we have been trading on the fantastic exchange, BTC-TC. Now, we have finally relisted on Havelock, which has served us very well so far and I expect nothing less in the future. This transition from BTC-TC to Havelock is our third exchange move. Not many assets have lived through GLBSE then BTC-TC and now Havelock, but Cognitive will proudly surge forward!


We currently own 19 x6500s, Seven SC Singles, and Four Avalons that are happily hashing away, and over 28TH of CoinTerra machines scheduled for a January delivery, but delayed into February.


The original contract is as follows:

Cognitive Mining (asset id Cognitive) was created with the intent to give investors the opportunity to participate in FPGA Bitcoin mining without purchasing their own hardware. 100% of mining revenue will be distributed proportionally among shareholders. One share of the asset gives you one share of the revenue. Operating costs will be paid for by shares held by the operator of the asset. Each share represents a share in the ownership of the hardware. Motions to sell more shares can be raised by shareholders if 25% agree. 70% of shareholders will need to agree to issue the proposed shares. In the event of liquidation, all revenue will be distributed evenly to shareholders. The operator reserves the rights, regardless of the amount of shares owned, to raise a motion, and sell all hardware. Dividends will be paid weekly. Further information can be found at http://cognitivemining.com/

If you have any questions, comments, or criticism, I appreciate it!

Thanks,
Garrett

I shall not be held responsible for any kind of monetary loss as a result of interacting with Cognitive.

Thread Rules: Posts must be constructive, add to the conversation, and be relevant to bitcoin mining.