btt

[creativex]

Avalon batch 2 shipping confirmed.

Good news from the field.  I just got an email from Avalon with a tracking number for batch #2.  Wish me luck.

https://bitcointalk.org/index.php?topic=167726.msg2154657#msg2154657

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[iCEBREAKER]

Are you still mining LTC?  It's now much less profitable, according to Dustcoin.

Hope you switched back to BTC.

[creativex]

I still have them as pretty close, with a slight edge to BTC mining according to allchains & coinotron, but with merged mining BTC is indeed a better play. I shifted a couple cards this morning and will shift the remainder this evening, when able.

Trying to pay today's dividend, but can't log in, seems the site is being DDoS'd.

[mercSuey]

Just bought shares in anticipation of Batch 2 being delivered soon and Batch 3 in the not too distant future...here's to some nice dividends for the rest of the year!  Good luck!

[creativex]

Just bought shares in anticipation of Batch 2 being delivered soon and Batch 3 in the not too distant future...here's to some nice dividends for the rest of the year!  Good luck!

Welcome aboard!

That'd be nice. Between BTCFPGA & Avalon I think we've waited long enough for ASICs to finally be delivered.

[Yogi2013]

Still no confirmation on batch#2? Also have you considered some Avalon chips? I know this doesn't spread company risk but, I believe that the slower to deliver asic companies will have to step up shipping or lose all market share to asicminer. Love the daily dividends btw!

[michaelGedi]

hi there, what's the projected hashrate upon deliveries of batch 2 and 3?

what's the projected dividend rate upon this increase?

many thanks

[matt4054]

hi there, what's the projected hashrate upon deliveries of batch 2 and 3?

what's the projected dividend rate upon this increase?

many thanks

This is pure speculation but I will attempt to approximate it.
Current financial data show about 3000 outstanding shares and an AVALON ASIC at 70 GH/s would mine about 22 BTC per week. So to compare with AM (actually BASIC-MINING pays daily dividends), the weekly dividend could be 70% of 22, i.e. 0.00513 per share.

So it seems very competitive with ASICMINER at current price. But again, I may be wrong with my numbers and it needs confirmation. And it only account for 1 miner from batch #2 (there is another one on the way from batch #3 as far as I know)

[creativex]

hi there, what's the projected hashrate upon deliveries of batch 2 and 3?

what's the projected dividend rate upon this increase?

many thanks

This is pure speculation but I will attempt to approximate it.
Current financial data show about 3000 outstanding shares and an AVALON ASIC at 70 GH/s would mine about 22 BTC per week. So to compare with AM (actually BASIC-MINING pays daily dividends), the weekly dividend could be 70% of 22, i.e. 0.00513 per share.

So it seems very competitive with ASICMINER at current price. But again, I may be wrong with my numbers and it needs confirmation. And it only account for 1 miner from batch #2 (there is another one on the way from batch #3 as far as I know)

I apologize for my delayed response, my weekends are often...frantic.

That's correct. We have a day two batch 2(3 module) order and a batch 3(4 module) order coming. Upon receipt of both units we should see around 156Gh/s total if we can squeeze 22Gh/s from each module. The batch 2 order will have one available expansion slot and the batch 3 order may or may not be filled upon receipt. This will give us the ability to up our hashrate a further 14% fairly easily down the road when Avalon makes the modules available. There are currently 3096 shares outstanding so that works out to 50.38Mh/s/share.

As we're limited to 5000 shares outstanding and still have reserves of nearly 700BTC I think bASIC-MINING represents a great value going forward.

[matt4054]

Thanks for your confirmation. This is great news :-)

I am happy that I could buy my shares under 0.5, now I'm excepting stock price rise when the community will consider the forthcoming dividends and do the maths. Finally, some kind of competition is coming in the ASIC stocks. Good for the market and good for our portfolios, don't forget to post the good news when you get confirmation of the delivery :-)

[creativex]

I've seen some guys that managed to get orders through on feb 2 confirmed receiving Avalons, so it shouldn't be long now. I'll definitely be singing from the rooftops after this long wait is over.

[carnitastaco]

Any new thoughts on putting the btc reserves to work?

[creativex]

Any new thoughts on putting the btc reserves to work?

Nothing new. ASICMiner is the only immediately available product and the cost/Gh is too high. I did toss out a bid in their final auction 3@48?, but it took over 50BTC each to secure a blade. There just aren't a whole lot of options out there just now.

[matt4054]

Any new thoughts on putting the btc reserves to work?

Nothing new. ASICMiner is the only immediately available product and the cost/Gh is too high. I did toss out a bid in their final auction 3@48?, but it took over 50BTC each to secure a blade. There just aren't a whole lot of options out there just now.

Thanks for the answer. I guess no ASIC product is available for immediate purchase.
If I were you, I would keep watching the hardware sales from ASICMINER, see if there is any opportunity to buy hash rate at a reasonable price, compared to AVALON for example.

Someone mentioned the AVALON chips but I think it's hard to find a good PCB design and handling the rest of the project to make custom ASICs with the chips.

Cheers,

Matt

[gchil0]

I did toss out a bid in their final auction 3@48?, but it took over 50BTC each to secure a blade.

They are now available for purchase for 49.99 each.  Expensive, but we would have it in about a week.

[creativex]

I did toss out a bid in their final auction 3@48?, but it took over 50BTC each to secure a blade.

They are now available for purchase for 49.99 each.  Expensive, but we would have it in about a week.

Not just expensive...at 5BTC/Gh they're nearly 4.5x as much as Avalon equipment and have similar efficiency. Buyers may never recover their investment.

[lunarboy]

I'm looking into acquiring some shares here. I couldn't find anything with regards to your purchasing plan?

Do you have a timeline of intentions to expand?  Particularly your intentions to purchase more ASIC hardware from where and how much?

Are you intending to be strictly mining operations, or would a chip purchase something like this be on the cards.?

http://www.thegenesisblock.com/avalon-bitcoin-mining-asic-chips-to-rival-asicminer/

Thanks for any help

[creativex]

I'm looking into acquiring some shares here. I couldn't find anything with regards to your purchasing plan?

Do you have a timeline of intentions to expand?  Particularly your intentions to purchase more ASIC hardware from where and how much?

Thanks for any help

Welcome lunarboy. The original contract(OP) called for IPO funds to be applied to bulk ASIC purchases. I laid the groundwork for this with the now defunct BTCFPGA, but this was always conditional upon receipt of our first bASIC01 mining unit, which didn't happen. We've since had the same problem that every other ASIC mining company has faced in that we're unable to deploy funds for more hardware with a reasonable time to delivery.

The Avalon orders that the company now owns were intended to be stop gap measures to get us more efficient gear to add to our stable of GPUs while we wait for the ASIC hardware field to develop. Looking forward, ASICMiner + Avalon B2, B3, chip sales, & potentially B4 will raise difficulty significantly and as a result it's difficult to see ASICMiner blades offering a positive ROI with their current price. There are simply no other ASIC mining hardware options available at this time.

When there are options available that make sense whether custom built hardware based on Avalon chips with reasonable delivery times, ASICMiner blades at reasonable prices, or a new player in the field we'll have the opportunity and resources to significantly increase our hashing power.

Cheers.

[lunarboy]

Just dipped my toe in until something a little more concrete is on the horizon and to show support. Hopefully when ASIC start shipping or you get the OK on some Avalon chips and DIY , that will be my signal. In the mean time I'll wish you the best of luck.

All the best

[wiak2]

Bought some shares last night, and there's been about 100 shares bought since.  Just read through this thread, it's been a long wait getting here.  Hopefully the ASICs get in quickly!