I was looking into buying a S9, my calculation told me that it would never earn a profit due to rising difficulty and my electricity cost. i know some one who "mined" before using the b.mine half of this product. Since owning b.mine requires no electricity I was comparing their hash rates per btc and found that it is cheaper to buy hashrate from the purchase of b.exch than it is to buy from antminer(they are almost the same price per hashrate only antminers need electricity). I understand how the fund works and was just pointing out that it is cheaper to buy b.exch and "mine" with the b.mine side than it is to buy an antminer and would probably yield more btc by the time the fund runs out vs when the electricity cost exceeds profits from the S9. However you are right since both will probably result in a loss of overall btc maybe i should buy b.exch and just keep the b.sell side. But now this will require more calculations and thought as to the true value of a b.sell contract. Thanks for taking the time to respond and keep me thinking.

Oh and what happens to the cost of the b.exch after the halving? will it still continue to lose value equal to the last dividend payout of of b.mine per day or will there be a sudden drop in price?

When I run a Bitcoin mining profitability calculator on the s9 at my electricity cost with a conservative 6.5% difficulty increase it tells me that it will never earn a roi. It looks as though with the current volume on b.exch, holding b.mine should earn a roi before the fund depletes. Since one share of b.exch cost about the same as buying a comparable h/s from antminer and comes with a built in hedge incase the difficulty skyrockets, it looks to be a better option. I'm not proposing that somehow buying b.exch will make you rich with a risk free investment, I'm just saying it looks like a better option than buying a antminer s9 at their current cost and at a lower cost of entry. I could invest over 3 btc for an antminer that will never earn a roi or I can put up .06 btc and hope for a return from the fund.

Just crunching some numbers let me know what you guys think.

Mining with an antminer S9 vs buying B.Exch:

Antminer hashrate is 12.93 Th/s, one B.mine contract is equal to .25Th/s, so one B.mine contract is equal to 1/51.72. The S9 cost 3.05 Btc; if you divide that by 51.72 you get .05897. So that would be the bitmain equivalent cost of .25Th/s, only you don't need to buy a psu, pay pool fees, or pay the electricity cost to run the miner.
   Currently you can buy the B.exch contract for .05945 which gives you one B.mine contract and one B.sell contract meaning you are paying .00048  premium for the B.sell contract and getting the B.mine contract for a discount to bitmain when you consider the cost of electricity and set up.
    It looks as though when the block reward halving comes the fund will have just about 180 days of mining dividend in it (the threshold for the sell dividend payout). So any new purchases of the B.exch should result in a payout for the B.sell holders. Each purchase of B.exch will add .05945 to the fund if you divide that by 358 (contracts outstanding) you get a .000166 divided payout for each share of B.sell you own if difficulty stays the same. If this raises then the payout will be higher.
    In closing it looks to me that if you want to earn BTC from mining then you are better off buying B.exch then buying an antminer S9, it's cheaper when you consider pool fees and electricity, and comes with a built in hedge in case the difficulty rises.