Who runs cryptostocks?

Any word on our KnCs?

I would suggest increase the interval of dividend payments as too much small transections will incure fees to the receiver.

Dear Shareholders,

Our first seven BitFuries arrived towards the end of last week and have been happily mining since. As a result revenues this week were €2,370, and a profit of €1,225, so a dividend of 389 LTC. €1,030 is going to the hardware reinvestment fund taking our total to €6,160. There is a debate as to what our reinvestment strategy should be going forwards here. You can see our BTC hashrate on the BTC Guild team rankings page (we're currently about 12th). I'm anticipating that revenues for the coming week will be over €5k.

...of the solo mining only. It's useless to watch it daily, and it's now useless to watch at all, as the growth is in franchising and sales.

Can you get a CT team member here to confirm this listing?

Dear All,

Our next four BitFuries arrived this afternoon! Simon and Ross are both away this weekend but I certainly didn't want those babies to be sitting idle so I've been busily building them this evening. We've now got 6/7 running and we're nipping at Avalon's heels on the BTC Guild team rankings!

In case you're curious, the BitFuries are very power efficient, as expected. I'm getting 1,120 Watts at the plug for three 400 GHs units (48 boards in total, including three fans - Seasonic 1,250W PSUs), and most of the units are doing about 450 GH/s rather than the billed rate. That makes it an impressive 0.83 Watts/GHs.

I'll hopefully have the final miner operational tonight too. Probably going to have to canabalise one of our GPU for spare PSU rigs but its not running ay the moment anyway.

One of the six live miners is misbehaving a bit (sitting at 300 GH/s not 450 like the rest) but Giles will sort it out tomorrow so we're getting the full goodness; diagnosing these units beyond re-seating boards is a bit beyond me I'm afraid!

Kate.

https://forum.litecoin.net/index.php/topic,4582.msg49290.html#msg49290

Including FPGAs our total paid-for hashrate is about 12.5 TH/s. We've currently got 2.8 TH/s (officially - its actually running at a good 10% more than that) so we've still got 78% to come.

We need to decide where to spend more cash on hardware too. Please see the Where to invest next? thread.

Kate.

https://forum.litecoin.net/index.php/topic,6354.0.html

This is for CipherMine shareholders. We currently have about €4,500 in the hardware reinvestment fund and it is about to start growing quite rapidly now that the BitFuries have started arriving; probably at least another €1k by the end of this week.

I would value your collective input on where we should invest those funds. I plan to share with you all my updated economics-based forecast of difficulty which suggests that we will be able to maintain fairly healthy profits of €30-40k/month by continuing to invest in the ever-cheaper ASIC mining gear on the market then switching to scrypt GPGPUs when they become a reality. However, there are some permutations we could do instead. Some options:

1) For now put all the reinvestment fund into SHA256 ASICs as per the current plan. This is probably the most obvious course of action for now. If we do stick with this the question is which vendor? BitFury are the most expensive per GHs, but they are delivering and their gear seems pretty stable (though we've only been running it for a day). KNC are reportedly having capacitor explosion issues which doesn't inspire confidence. I like HashFast since their CEO is a mate of a mate and I think their Miner Protection Program is pretty good, but they are looking expensive now compared to CoinTerra. I was skeptical about CT but having done a lot of digging and speaking to people I think they are legit, but spending money now on stuff that won't arrive until January makes me twitchy, even at their amazing prices.

2) Put some or all of the fund into more GPU rigs. This has the benefit that they will have residual value, but to be frank GPU rigs are proving to be a bit of a nightmare. That said, our new rackable design should help - we're moving to 4 GPUs/rig due to the constant issues we've been facing. However, with LTC diff over 1,100 (and other scrypt coins only offering 10-20% above that) their profitability is getting quite slim.

3) We save up for GPGPUs so we can splash out €10-€30k once they become available and really get the full advantage of that first wave.

4) Use the fund to pay off some of CIPHERMINE.B1 (the bond) early.

There are other options too. As previously mentioned I'm using the Avalon refund to help with setting up a new exchange, hopefully buying Burnside's code. We could "go large" on that and put the h/w fund into that new venture if we feel the outlook for mining is just not good enough; in that scenario you'd all get a larger share of the new venture as CIPHERMINE shareholders.

Equally, we could switch to 100% profit mode. This would double dividends in the short-term but we'd effectively become a perpetual mining bond. Our revenues would steadily decline and in the longer term my models suggest that this would be less profitable than continuing to invest. It is very contingent on GPGPUs becoming a reality though.

Anyway, just wanted to float this out there and get your collective feedback. I'll post a new public version of the business model at the weekend.

Kate.

PS. 4 BTC in the last 24 hours with just 10% of our expected total hashrate - we're cooking on gas now!

https://forum.litecoin.net/index.php/topic,6354.0.html

Do you assume that from Ukyo beeing MIA or do you have specific information?

havelock still hasn't paid this weeks divs?

Giles and I have been rather distracted by sorting out how we're going to keep the security liquid and tradeable post-LTCG close down, and Ross and Simon have had to rebuild three of the GPU rigs recently (two randomly melted their main motherboard connectors - still not 100% sure why - and another has an as-yet undiagnosed fault), so we've not had time to sort out live hashrates for the GPU rigs yet (sorry!). Things are actually looking quite positive on the new exchange front and I'll have more news soon; there are a number of options being explored, and we will continue to pay dividends regardless.