Next round of shareholders questions July 2014 - gatheringDear shareholders, we've gathered 8 questions so far, still 6days until forwarding them to Friedcat. If you want to add something, don't hesitate to write it here, or in PM. Closing time for this round of questions is 1st of July 2014 12:00 UTC +01:00 1) Could you please provide an estimate on when the first dividend can be expected now? What is the estimated time of ASICminer to become cash-flow positive ?
2) What is the exact status of self-mining and franchising ?
3) How many PH/s of gen 3 have already been sold/shipped by now ?
4) Has the "60 PH/s batch" progressed any further? When is it supposed to be completely done? How much has already been sold ?
5) Given the ratio of 1/3 retained and 2/3 paid out of the revenue, is this after deducting costs for upcoming batches/expenses or are those part of the 1/3 of retained capital ?
6) AM sells chips to multiple mining companies including Rockminer, Datatank, Bitgarden, is it possible to get some clarity on the relationships AM has with different groups possibly not including the above ?
7) Could you give us a very rough estimate on when gen 4 can be expected. e.g. is tape-out still expected this year? Q1/2/3/4 next year?
8 ) Personal question from shareholder freedomno1 : Hi friedcat I have been receiving several requests for replacement baseboards/ power boards and parts for the block erupter cube and was wondering if their is a repair service or parts store available that I can relay to those individuals to contact with if something breaks.
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I don't think, he refuses, AM is planning to start own immersion mining in June-July iirc. |
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edit: or maybe for the next round of questions?
Sure, try to formulate question, i am still gathering them, still one week to go, questions will be send to our CEO 1st of July 2014, also I'll write here what I got so far in following days. |
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as we don't have official PR guy, we can speculate like always : *Maybe* FC has hard times to sell these 60Ph of chips and DataTank has hard times to get money together for buying chips. Perfect match
Also DataTank is talking about DataTank capacity, so it could be just hosted AM farm in DataTank facility.
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Progress Update 23 Jun 2014:
Here is a first progress update since the original announcement of DataTank Mining
• We are in discussion with a manufacturer to provide ASIC hardware in return for DataTank capacity. This is an unexpected turn of events, but it may prove to be a very important development...
Is this bad for AM? If that ASIC manufacturer is AM, then its good, since FC is swimming in chips right now. |
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If what is keeping women out of mining, is the color of the heatsink on their miner, those women should stay out of bitcoin mining.
These kinds of efforts to bridge the gender gap are not helpful... they are just denigrating and insulting.
Agree 100%. Women stay out of mining because of comments like this; the best strategy to diversifying is avoiding such comments... But what's keeping AM from mining? They have the chips, they have the immersion cooling setup, they got everything, but there is no mining. if they were mining, at least there would be some sort of dividend to shareholders. AM is mining, but its not public ... yet also in last financial statement we could see income from mining |
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Previous bullish me is becoming bearish about fc's 'i won't give a fuck' attitude.
I am tempted to make the company's (havelock-)value go down below IPO. I mean... enough is enough.
Cashflow must be positive for quite some time already. And yeah yeah... reinvestment, having to convert to BTC....
I am used to Arab and Subcontinental attitude. I also dealt a lot with Japanese. But never with Chinese, if I could avoid it. I am beginning to think that was for a reason.
Communicate ffs..!!!
I am feeling pretty cheap but cannot help it: Where are our dividends? Where are the revenues from self-mining with Gen3? Are you not able to deploy the millions of Gen3 chips we all paid for for self-mining, nor for sale!?
+1 |
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The return of multiple IPO price was a long time ago and was fuelled by speculation. Sure we got some dividends but we don't mine anymore. Now we rely on outside expertise to make our chips into something useable. Yeah all I can see are bulls and roses.
Actually ASICminer IS mining for last 8 months Self-retained (not sold) Hashrate distribution:
Air cooling datacenter - 47TH/s
Under franchising - 19TH/s
Immersion cooling - 5TH/s with 3-5TH/s per day towards 60TH/s in total.
also we have seen video showing us immersion mining farm and also photos of many un-populated rows waiting only for gen3 chips months ago. We have gen3 chips for months now. The question is, FOR WHO are ASICminer's farms mining ? Where are BTCs mined in ASICminer farms ? Why mined bitcoins are not distributed in form of dividends back to shareholders ? And why shareholders dont have access to public hash meter ? ? ? <<< I think I'll include something like this in next round of shareholders questions @jimmothy & freedomno1 : Good points, please formulate your questions |
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I propose next round of shareholders questions to be scheduled on 1st of July 2014, and I feel it will be mainly about dividends this time, since we've got answers for almost everything last time. This will also be exactly 1 month since last round of shareholders questions.
meanwhile we can also summarize what changed between then and now, like
- The Open Source Block Erupter Project
- announced cooperation with DataTank
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Why is August unreasonable? There are pains exchanging fiat to BTC in China so once there is positive cash flow there will be a delay to covert the fiat to BTC.
nope. 14) What is the estimated conversion time from chip sales to dividends?
The conversion time itself is fast and should not be the main stagnation of the time frame. @NotLambchop : good one  like always |
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Where are dividends ? ? ?
price per Gh/s 0,49$ < minimum price tag
production cost Gh/s 0,2$ < maximum possible price tag
April batch # of chips 850 000 ... sold for 4 165 000$ > REINVESTED (~2 082 500 chips)
May batch # of chips 3 350 000(plan) ... sold for 16 415 000$ > REINVESTED (~8 207 500 chips) surplus of 1 507 500 chips or 3M$
June batch # of chips 6 700 000(plan) ... sold for 32 830 000$ > ? ? ?
Right now around minimum of 36 millions $ are somewhere
lets reserve capital for next July batch of lets say 7 000 000 chips , that's 14M maximum ... so there are 22M $ waiting to hit dividends this month, or ~0.1 BTC/share , there is absolutely no reason to withholding them for any longer.
How can someone think about august? There is no reason. Explain.
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On the other hand if you buy Datatank shares the price may go up a lot and its cheaper to get IPO shares than it is to buy later
Please explain to me, how is appreciation of cloud mining shares possible in terms of BTC, thank you EDIT : because by "shares", you're buying fixed amount of power(megawats) , not fixed share in company(like ASICminer), there will be a lot more offerings from DataTank, until they stop production |
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I predict low share prices for AM in the near future, maybe record lows... not for bad news but because I imagine many AM investors will want to get into DataTank... and many of us already used all our available funds to purchase cheep AM shares.
There seems to be an appeal with DataTank, as they're working closely with AM. However, are current shareholders willing to let go of their shares for something that is farther down the line? Dividend Payments
Profits will be paid weekly in form of dividends. First payments are expected when the initial hardware is deployed, 3-6 months after successful fund raising.
Perhaps I'm reading it wrong but it seems like quite the trade off with 3-6 months later, with the assumption that AM will start dividends sooner than that. There's lots to consider. There are two ways to play this One bet on the chip sales and gamble on the payments then do a switch Or jump into the Datatank early and assume the price will rise as the dividends approach Both strategies have a chance of burning so some people may just play it safe and do a 50 50 approach or a ratio more favorable to them. Or just hodl the coins ... the best strategy so far |
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If that company becomes big that means huge money for us and higher share prices. I like what they are doing not investing into it cause other investments going.
1 sold container = 0.1$/share dividend for AM1 ... not so breathtaking I get $1/share/container at $0.2/gh profit. Also I think the potential for franchising is huge. yes, my bad $1/share/container at $0.2/gh profit. ... seems much more better now  |
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If that company becomes big that means huge money for us and higher share prices. I like what they are doing not investing into it cause other investments going.
1 sold container = 0.1$/share dividend for AM1 ... not so breathtaking |
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From the prospectus: DataTank Mining will deploy up to 10 container mining systems (12MW / 24 PH / 60 Tanks) within 3-6 months of successful completion of the IPO (ie. Q3 and Q4 of 2014). Two locations with renewable electricity at around $0.02 per kWh are available. One location is within the USA, a second location is available with similar electricity cost, in a free trade zone with favorable climate and no import or export restrictions.
10 containers, 2,400 DataTank Immersion Blades (80x AM BE 200/board) in 1 container = 940 000 $ order from ASICminer, minus costs, its aroud 1$/dividends/AM share from 1 container produced by DataMining  |
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DTMA shares - full containers are build, with hashing hardware, 100% net profit from mining as dividends, 3+ months after IPO
Yes, but only from your container(your pre-rented MW), right? With profit depreciation from day1 So its quite possible that they will be releasing "shares" in multiple batches, for less and for less and again for less ... until they reach zero-sum. Good for company, because they will have shitloads of orders, full hands of work, great demand for fluid, making huge profit all along the way with 0 risk. And shareholders in the end will stay with dick in hand and with containers full of hosted hashing power making barely any profit, if not in loss assuming that $26000 operating monthly cost. So its like participating in classic mining race with big guys. I was never a fan of cloud mining, the shares can simply only go down, because 1 MW will produce less and less BTC every day, I will pass. |
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hmmm hmmm hmmm ... so shareholders are buying shares=MWs, so it will be something like buying dedicated hashrate in a cloud mining operation like cex.io ? So no profit for shareholders from company sales ? Just from mining, so its just like 3-6months pre-order space for hosted cloud mining ? Am I seeing this right ?
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its just matter of time when Chinese ASICs manufacturers will corner out of the market all other ASICs manufacturers, you cant beat the economy, they are shitless |
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