ASICMINER shares have a P/E ratio of 3.416, this seems very low.
If the P/E ratio of ASICMINER matches that of a public gold mining corporation then the share prices will also rise.
Average PE for mining companies seem to be 10-20 or more.
| P/E ratio | |BTC per share |
| 5 | 3.125 |
| 10 | 6.25 |
| 15 | 9.375 |
| 20 | 12.5 |
This assumes 20% of Bitcoin network hash power, with earnings per year of: 250000 BTC and current share price of 2.135 BTC.
Here's the math I used to calculated the current P/E ratio:
PE = (Total_shares * Current_price) / (Bitcoins_mined)
PE = (400000 * 2.135) / 250000
PE = 3.416
