LabRatMining has now joined the Terahash Club.  Just shy of 1.3TH and climbing rapidly!!!  This is a momentous occasion for the company and it looks like 2TH is just around the corner.

Get your bonds at a decent price while you still can.  From here on out we should see some big jumps in the next 4-5 weeks.

In the past few days I have listed 2000 new bonds 500 @0.2 1000 @0.225 and 500 @0.25.  These bonds have been made available to allow for new individuals to enter into LabRatMining as a good sized deal should be concluded by the end of the week.  Get them while you can.

Listing some additional bonds today.

It was 400GH + 100GH for every 3900 sold after the point of that announcement.  I believe we hit 500GH and may be at 600GH.  I'll have to look, I know it's close.

Something I forgot to add is that LRM not only solved it's first block while I was away, but it's second block as well.

Hello everyone.  While I was gone, ~90GH was added to LRMs hashrate totalling an average of just over 695GH/s.  There is a lot more hardware that should be received soon that will drive this up further.  On top of the hardware owned and soon to be owned by LRM, it appears BitFury should have some equipment on hand soon which means Dave will be mining for us for at least 2 weeks.  The hashrate is climbing rapidly with a lot more on the way.

In the past week it appears the price of bonds has touched 0.25 BTC per bond and has only a few small asks before it will hit that point again.  It appears that an individual has decided to place a large amount of small sell orders ranging between 0.2 and 0.6BTC per bond.  I would like to assure you this is not me, but I'm quite curious as to how this will effect the price.  It's a free market now so lets see where that goes.

The individual I left in charge did wonderful holding down the LRM fort... until it was time for dividends that is.  What a nice birthday present to find out my company gave out a free 30BTC :rolleyes:  Unfortunately this is an amount that will could effect the company in the short run and has resulted in my making the hard decision to cut half of the "extra" dividends paid out from this coming weeks dividends and I will be eating the other half.  Consider it a bonus from me personally.  I apologize to those purchasing bonds this week as they will see a slight pay-cut, but I hope to make up for this by increasing the hashrate significantly either this week or next.  I hope everyone enjoyed the free BTC caused by a little error on BitFunder, but don't expect that to happen again

Thank you to everyone who has offered to send back the extra dividend payout, but I can't request that of people and I don't expect anyone to feel obligated to do so.

I have updated the hashrate graph although the site doesn't state I have done so yet.  There is a lot to do and little time to do it today as I just got back.  Expect a lot more updates this week as things progress.

I am back and will be making an announcement regarding many things that occurred while I was away.  Please be patient as I'm still settling back in and have a lot to do.

I updated that to state based on current bond sales before I saw this post, but it must have been after you looked.  I'm expecting well over 50TH in the event of 100k bonds selling.

This amount changes sometimes hourly.  I can't give a true estimate, but there is a likely minimum to be found here: http://www.labratmining.com/currentHashrate.html that I try to keep as updated as possible.

Last week I did the same thing when paying dividends.  It was to avoid paying myself out of the dividends.  This week I stated I was not going to be putting them back up.  I placed 1000 bonds at 0.16 for those lucky individuals who can get their hands on them.

I will be selling small chunks of bonds at market or tier price, whichever is higher, from here on out until the original 100k are sold.

I'm currently mining in a private pool.  There are many members of the Bitcoin community that mine in this pool with me that are very trustworthy.  If someone would like confirmation of LRMs hashrate I can ask one of them to confirm.

The reason I chose this pool is that I was mining in it for months before getting any hardware for LRM.  The stability is amazing and I love the pools readout of stats.  When I switched over to Eligius, there was stability issues, but the stats readout is wonderful on Eligius.  EMC was stable and has an OK stats readout for individuals who have a high hashrate, but it was only registering ~75-80% of LRMs hashrate.

Therefore I will be mining privately for the time being and will be implementing a stats readout on my website in the near future.

Currently the pool is reading between 610 and 650GH/s...  I wonder if that's because a MiniRig was added today?

This weeks dividends may be missing out on the major benefits of this new addition to LRM, but next week should be pretty impressive.

I will be out of town most of the week, but I don't need to be around for the hashing to continue.  I have the rigs being watched and the dividends should still be paid out on time next Saturday.  If they absolutely can't be paid out for some reason, the dividends will be paid out Sunday night when I return.

This is a huge jump for LRM and I'm excited to see the company go over 1TH soon!!!

Dave has stated that once he has access to the hardware he'll begin mining whether it be virtually (off-site) or in-hand.  It will likely be in-hand as it should be shipped as soon as it's made, but in either event it should be soon.  Not sure when it will be, but it should be some of the first BitFury equipment produced doing the mining.

Within the next couple of hours I will be paying out the first dividends on BitFunder, and I wanted to make an announcement about how this is going to work.

There have been concerns that the bonds I'm still holding (are in the process of selling) will receive a portion of the dividends.  I am here to explain why this will not happen.  On BTCT.co they have the option to "not pay dividends to yourself," whereas BitFunder does not have that option in place yet, although Ukto has stated it will be implemented.  What I will be doing to pay out the dividends is removing those bonds temporarily from the market, deleting them, and then paying out dividends to the remaining bonds.  This shouldn't stop anyone from purchasing bonds as it will only take a few minutes to do.

Next Saturday when dividends are paid out, I will not be re-listing the remaining bonds.  It has occurred to me that some individuals may choose to purchase a large quantity of bonds once dividends have begun being paid, therefore diluting the existing bondholders dividends.  As the hashrate of LRM is rising this could become a reality.  To prevent this from happening while still allowing for growth of the company, I will be selling small quantities of bonds at market price until the remaining bonds (out of the 100,000) are sold.  This will allow LRM to market regulate.  It is important to raise capital and expand without harming those who made their investments early.

The reason I have chosen next Saturday is that it is 1 full month from the day the bonds were listed, and there should be a significant amount of hashrate coming online in the next couple weeks for LRM.

As of right now LabRatMining has reached 122GH/s, but should be increasing each and every week until those large orders are received.  This means you will not be receiving a large sum of dividends this week, but the number is going to be increasing significantly from here on out.  It has come to my attention that a few members of the community may have misinterpreted what I was saying in that I am promising a minimum of 100MH/s and a likely 350+MH/s per bond.  What that statement means is that intended hashrate per bond will be paid out once all hardware is received.  I am in the process of securing a significant amount of hardware, so this number should be reached rather quickly.

These next weeks will be very exciting for everyone involved.  Thank you to everyone who has helped make this possible.

I understand your concern, and I can say with confidence that I am looking into each and every hardware manufacturer in great detail.  I will not allow LRM to fall behind in the ASIC race.  I am therefore diversifying the fund amongst any and all hardware manufacturers who actually get  their promised hardware working in the form of a prototype.  I will not be risking company funds on manufacturers who at this point could fail to bring their hardware to market.

Agreed, and I'm working on it 

Eclipse is registering 74/95GH I'm pointing toward it, so until I get that worked out I'm mining privately. It's in as a backup, but I don't appreciate a paycut... Not sure if EMC does that to everyone and therefore it works out in the long run or if it's an issue with how it's reading LRM's shares. Didn't have time to look at it today as there are other more important things to do. Either way... 95GH and climbing rapidly!!!

I have access to a private pool that I'd like to mine in, but transparency is rather important, so I may use EMC with this private pool as a backup.  It's no fee and by invitation only, therefore DDoS protected.  It's also extremely stable.  In the months I've mined there I have experienced 0 downtime.

If anyone had been there... They'd know that was taken out of context.  I was referring to the Oct delivery date and I'm not "cutting in line."  I just have my spot reserved from the time I contacted Dave.

I am rather dissatisfied with the random downtime on Eligius over the past 48 hours.  Due to this fact I have switched over to EMC.  I would rather have a more stable miner with less visibility.  You will see the stats hit https://eclipsemc.com/top_miners_pie.php over the next week or 2.  The company hashrate should hit ~95GH on Wednesday or Thursday depending on how reliable USPS is.  This is currently enough to be placed on the top miners list.

I will likely be implementing API connectivity with my website in the near future, but for the time being this will have to suffice.