Topic: World's First Bitcoin Mining IPO Misses Target by AUD $14 Million (Read 621 times)
Maybe investors are concerned about the future of subsidised electricity in China
March 03, 2016, 05:04:55 AM
There seems to be a lot of money around for investment in Bitcoin related projects, Do you think that the failure of this mining ipo reflects a belief that mining profits will decline over the next few years?
Mining projects used to be unprofitable and/or scams. Mining profits going to decline as soon as they start mining unless they have free or very cheap electricity and maintenance crew. I'm not a bit surprised because of this failure.
March 02, 2016, 12:28:14 PM
This just means people are losing faith in cloud mining, basically. There's a constant fear that they'll be scamming... As for profitability, don't know and don't really care about their electric rates 
March 02, 2016, 09:51:50 AM
They maybe just had a bad business plan, it dosn't mean that investors are worried. There are other opportunities to invest in at the minute within the crypto world. i reackon that either the price of a bitcoin rises after the halving or some companies will go broke.
March 02, 2016, 09:47:25 AM
It seems like a really strange idea to invest in a mining center right now with the low profitability. Unless you're making the hardware yourself, you're going to have a very hard time making any sort of ROI. Mining is increasingly turning into something for Bitcoin fanatics to have as a hobby to support the network, along with farms that were made back when it was profitable that aren't losing enough to close up shop yet.
I don't get why they don't invest the same money into making a actual datacenter and maybe put hardware in leftover space.
I don't get why they don't invest the same money into making a actual datacenter and maybe put hardware in leftover space.
March 02, 2016, 07:59:35 AM
I doubt that it is because of decreasing mining profitability.
what I feel is that the main reason is awareness. general people don't know what is bitcoin and also they will not believe the theory, that money can be mined!! Becase they can't think beyond fiat.
The good thing is that, slowly but surely, bitcoin is gaining popularity among general people. But it will take time and can't be achieved overnight.
what I feel is that the main reason is awareness. general people don't know what is bitcoin and also they will not believe the theory, that money can be mined!! Becase they can't think beyond fiat.
The good thing is that, slowly but surely, bitcoin is gaining popularity among general people. But it will take time and can't be achieved overnight.
February 09, 2016, 06:17:38 AM
I think their failure to not reach their target of $20 M (in AUD) it has little to do with rewards declining by years to come but perhaps it's to investors either not having enough cash to splash or the group failing into making them believe that it does have a potential into profiting great in the long run but since some of the companies that have been active on the same field have got only some profits, then that could have been a factors. $14M is still a large money and not sure why they don't want to at least start with lesser equipment's and go from there.
February 09, 2016, 03:55:29 AM
The first fundraising in the world for an initial public offering of a Bitcoin mining company has raised 5.9 million Australian dollars, (USD $4.2 million) – falling short of its target of AUD $20 million.
https://bitcoinmagazine.com/articles/world-s-first-bitcoin-mining-ipo-misses-target-by-aud-million-1454963974
There seems to be a lot of money around for investment in Bitcoin related projects, Do you think that the failure of this mining ipo reflects a belief that mining profits will decline over the next few years?
https://bitcoinmagazine.com/articles/world-s-first-bitcoin-mining-ipo-misses-target-by-aud-million-1454963974
There seems to be a lot of money around for investment in Bitcoin related projects, Do you think that the failure of this mining ipo reflects a belief that mining profits will decline over the next few years?
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