Hi I'm optimalbitcoinminingcorp - you might recognize me as dubious on IRC around the bitcoin channels. Teaming up with me is AnonX, who is a recognizable user on the bitcoin-IRC channels. Additionally, I have been speaking with Nefario over IRC to prepare this IPO for launch. (he can verify this as well) I'm very excited to announce Optimal Bitcoin Mining Corp. a new bitcoin mining business, which is the first bond offering and largest IPO on GLBSE.com to date.
Currently, I am running 15 gpus at around 4 Ghash/s, so I've invested about $5.5k of personal funds and I am looking for bonds as loans to expand my cluster to around 40 Ghash/s. I would like to raise $45k for expansion funds within the next month.We are issuing 0.8 btc bonds that mature at 1 btc on or before December 1, 2011.
The way this venture differs from those that exist so far is that as far as I know, this is the first bitcoin mining company in which 10% of the total profits will be donated to a few different charities including at least one aiming to benefit the Bitcoin community. The specific charities have not yet been determined and I will allow the investors to make suggestions causes they would like to see benefit. The idea is that with the recent negative publicity surrounding Bitcoin in the US news, it's important for our image to be redefined in a more positive light. I see great potential in Bitcoin for the future and I don't want to see U.S. government regulation ruin this for everybody. Additionally, this should encourage a "feel good" mentality that comes from giving to others that should benefit the bitcoin community and cause it to grow in countless ways, while increasing chances of survival.
Here are our numbers:
Each computer will be built primarily with mining in mind, but also with some consideration towards retaining high resale value. Each computer will contain approximately 5x hd 5830, 3.1 ghz Athlon ii x4 processor, 4 gb ram, 16 gb sd card, wireless n usb adapter, 3 coolermaster sickleflow 120 mm fans for case airflow, dvd-rw drive, thermaltake v3 black edition case, 1200 W power supply, motherboard that has slots for 5 graphics cards, 3 pci-e extender cables
The space used will be a commercial space 350 sqft., approximately 10-15 minutes driving distance from dubious, who will be taking care of installing and maintaining the equipment and costs $350/month to rent. At approximately 20 computers there will be an upgrade cost of about $4,000 to upgrade the electricial system to support the additional load.
Here is a picture of the 350 sqft space:
The ceilings are 7.5 feet high, but this will be sufficient as the server racks are 6 feet high. We will be using this space to begin with and if it turns out we need more space, there is a 250 sqft space next door that is vacant. The debris on the floor and all dust will be vacuumed out before we move in.
To prevent the systems from overheating, there is air conditioning in the building that will be turned up full blast, plus we will be building a ducting system that directs heatflow out the window. If needed, a portable air conditioner or window air conditioner can be purchased cheaply to cool a space this size.
The cpus will not be overclocked, but the core clock of the gpus will be increased to the highest tested stable frequency, and the memory clocks will be underclocked as much as possible to reduce power consumption.
Each computer will cost approximately $900. Only one monitor will be purchased for the whole system along with kvm switches daisied together to reduce total expenses.
We have compiled several Excel spreadsheets that I put into Google docs for investors to view. We expect difficulty to continue rising at around 50% per two weeks. At this rate and approximating the value per bitcoin to be $20, bitcoin mining will remain profitable for 2-2.5 months. In this amount of time, we expect to make $14858.49. However, there are several different cases: if the bitcoin value goes to $50 we make $70,000 over this time period. ($30->$33,238.93 and $40->$51,619.38) In the case where the bitcoin drops to $10 we run a loss on our hardware of -$1,845.44. In case the bitcoin does not retain value, we have a plan B.
Here is a link to the difficulty data and calculations:https://spreadsheets3.google.com/spreadsheet/pub?hl=en_US&hl=en_US&key=0AmTXg8oCxjy5dDRYa3NPNDVlMnBSR2E2LV9VOHZWRlE&output=htmlYou can buy the bonds by creating a new web account for the web client for GLBSE.com here: http://dev.glbse.com:4567/client/index.html
Then generate a key pair and register, deposit some bitcoins and you are ready to go.
The asset ID is cbc7c9f999f94665e599d0ab0e144e1953e40d399a0f9191b91b843db4bb92da
If you have any questions about getting started, concerns or feedback you can post them on this thread or email us at email@example.com
Thank you for taking the time to read this and stay tuned for further updates!