Valuations of Mining Shares on Bitfunder

[maqifrnswa]

Nasty Fans
Assets = 300GH/s + 5GH/s (maybe) / currently mining + 800GH/s on order with BFL = 1.105 TH/s
total shares = 100,000  = 11 MH/s per share
outstanding = 10000
price = 0.00505051  
public market cap = 50.51 BTC ~ USD $5050
price per GH = .45BTC

I appreciate what you did to put this all together! I know you are completely guessing, and these PMBs are crazy bad investments by all "normal" investment logic - so this effort is worthwhile when you consider how someone basis-less the investments are.

Your Nasty math is a bit off though.

The 1.105 TH/s you describe is actually split amongst 19732 seats.
https://bitcointalk.org/index.php?topic=86854.0
1000 of those seats are sold as a pass-through on bitfunder:
https://bitfunder.com/asset/NastyFans
at a rate of 100 shares per seat.

So there are two prices per seat, the pass-through is ~.5 BTC/seat and through nastyfans.org at ~.35 BTC/seat

The calculation is thus:
total bitfunder shares = 100,000  = 0.53 MH/s per share (1.05TH/s /19732/100)
outstanding = 10000
price = 0.00505051  
public market cap = 50.51 BTC ~ USD $5050
price per GH = 9.5BTC

total nastyfans.org seats = 19732 = 53 MH/s per seat
oustanding = 19732
price = 0.35
market cap = ~8k BTC = $800,000
price per GH = 6.5

also, NastyFans is out of IPO (and has been for a while). Price is set entirely by the market. They are also one of the few (only?) mining securities that is actually mining.

[Progressive]

For comparison: PMBs at BTC-TC:

Today's update.
DMS.MINING is cheaper than running the ASICMINER USB...

[lubah]

I appreciate what you did to put this all together! I know you are completely guessing, and these PMBs are crazy bad investments by all "normal" investment logic - so this effort is worthwhile when you consider how someone basis-less the investments are.

Your Nasty math is a bit off though.

The 1.105 TH/s you describe is actually split amongst 19732 seats.
https://bitcointalk.org/index.php?topic=86854.0
1000 of those seats are sold as a pass-through on bitfunder:
https://bitfunder.com/asset/NastyFans
at a rate of 100 shares per seat.

So there are two prices per seat, the pass-through is ~.5 BTC/seat and through nastyfans.org at ~.35 BTC/seat

The calculation is thus:
total bitfunder shares = 100,000  = 0.53 MH/s per share (1.05TH/s /19732/100)
outstanding = 10000
price = 0.00505051  
public market cap = 50.51 BTC ~ USD $5050
price per GH = 9.5BTC

total nastyfans.org seats = 19732 = 53 MH/s per seat
oustanding = 19732
price = 0.35
market cap = ~8k BTC = $800,000
price per GH = 6.5

also, NastyFans is out of IPO (and has been for a while). Price is set entirely by the market. They are also one of the few (only?) mining securities that is actually mining.

Great stuff -- appreciate the clarification as I was WAY off!   BIG difference as you point out...

Thanks for keeping me honest.

[lubah]

Looks like some action over in SNQ.CoinI today -- somebody(s) dumped out of a descent size chunk ...   
The fun thing about trading these issues is one or two trades can have a big impact on price -

I don't understand the low price, though... from the math - looks like this one is available on the cheap assuming KNC delivers Day1 -
the Jupiters that make up this GB / security will be hosted at KNC and should be mining fairly quickly - so one could expect dividends on day 2...

per the earnings calculators I've seen...  even assuming difficulty skyrockets to 100M by October @ a minimum of 4TH/s hashing power the Jupiters should still spit out 20+ BTC/day

with 45000 shares outstanding that's .00044444 /share dividend per day - if it only costs 0.04/share that's a break even in < 90 days and gravy there after...  reasonable, right?

as compared to the other companies that are currently mining - the discount here is staggering.   

[creativex]

with 45000 shares outstanding that's .00044444 /share dividend per day - if it only costs 0.04/share that's a break even in < 90 days and gravy there after...  reasonable, right?

I doubt difficulty will stop increasing to ensure that you get gravy.

[kuriboh]

can anyone add an analysis about this to the list please?

IceDrill.ASIC

[fran2k]

I would like to see this analysis updated.