[BitFunder] IceDrill.ASIC IPO (235 Thash Mining Operation powered by HashFast)

[hl5460]

The success of the Icedrill relies on the timely delivery of Hasfast, which BTW is completely unpredictable. As far as I see, there is no other foundries that can overtake CHINA in this respect(Yes, I am referring BTCGARDEN@130nm or Labcoin, they are more practical and realistic). So I will be very very cautious in the investment.
1 share of Icedrill roughly equals 7.5m/s of hashing in FUTURES. I don't see the advantages over other PMBs even 25% is reserved for future expansion.
 

[damiano]

People better get in fast because these shares are a bargain compared to the other mining companies. We are going to see another IPO mania (like Labcoin and BTCGARDEN) as people sell off their other mining shares to get in on the action.

Everything is already selling off on btct

[superduh]

People better get in fast because these shares are a bargain compared to the other mining companies. We are going to see another IPO mania (like Labcoin and BTCGARDEN) as people sell off their other mining shares to get in on the action.

Everything is already selling off on btct

noone says people are rational. most of the "newbies" will wind up losing their money one way or another

[stslimited]

People better get in fast because these shares are a bargain compared to the other mining companies. We are going to see another IPO mania (like Labcoin and BTCGARDEN) as people sell off their other mining shares to get in on the action.

Everything is already selling off on btct

as if burnside will transfer all the funds in time lol

[canuckgal]

30,000,000 (30 Million) IceDrill.ASIC asset shares will be created at the IPO. 30,000,000 of these assets will be sold. Each asset represents 1/50,000,000 of the profit of the IceDrill mine.

So they are only selling 30,000,000 out of 50,000,000?

If they are keeping 20,000,000 to themselves, that means they are valuating their equity as BTC28,000?

I watch Dragons Den, so that practically makes me a professional.  

[Pale Phoenix]

People better get in fast because these shares are a bargain compared to the other mining companies. We are going to see another IPO mania (like Labcoin and BTCGARDEN) as people sell off their other mining shares to get in on the action.

Hmm, there are two further tranches to be released at .0015 and .0016. Don't you think that constrains the potential for IPO mania?

Also, if you purchase shares now and the third tranche fails, what will be the liquidation value of the company's assets to return to shareholders?

[kingcrimson]

Didn't DeadTerra just step down as a passthrough because it was too much effort for him to be a middle man (and press a few buttons)... now he is fronting a $15 million IPO?  

I just want to speculate how much $$ he lost people on his 'vacation' while shareholders were waiting for S Dice liquidation funds for several weeks...

[AM4Bitcoin]

Also, if you purchase shares now and the third tranche fails, what will be the liquidation value of the company's assets to return to shareholders?

This.
They invest the money from the first two IPOs but if the third fails they will payback the money? How?

[Vbs]

If the chips are fully operational on the 1st of November without any delays (and they keep their promise of a max of 40W/chip, 10GH/s/W), the investors that are paying a total of BTC44,750 for 300TH (60%), will probably have an estimated max profit of ~16.8% until it tops out in October 2014.

Data: http://mining.thegenesisblock.com/

[empoweoqwj]

I'm suffering from "Mining IPO Fatigue" = MIPOF

I don't see how the market can possibly support a new IPO every week. The cake isn't growing, its unsustainable.

I'm not saying this IPO is any stronger or weaker than any other recent IPOs. All I do know is the later you are to the party, the lesser the chance of success.

If you launch this year, you've still got a good chance. So good luck with a speedy and successful launch. But as they say on Dragon's Den, I'm out.

Anyone thinking of IPOing a mining company 2014, forget it. The appetite will have long gone due to the ever increasing market place competition and inevitable bankruptcies that will start happening at turn of the year.

[canuckgal]

I'm suffering from "Mining IPO Fatigue" = MIPOF

I don't see how the market can possibly support a new IPO every week. The cake isn't growing, its unsustainable.

I'm not saying this IPO is any stronger or weaker than any other recent IPOs. All I do know is the later you are to the party, the lesser the chance of success.

If you launch this year, you've still got a good chance. So good luck with a speedy and successful launch. But as they say on Dragon's Den, I'm out.

Anyone thinking of IPOing a mining company 2014, forget it. The appetite will have long gone due to the ever increasing market place competition and inevitable bankruptcies that will start happening at turn of the year.

Ditto

At this point, any start ups would be better off trying to get a bank loan using these same projections

[iCEBREAKER]

I'm suffering from "Mining IPO Fatigue" = MIPOF

I don't see how the market can possibly support a new IPO every week. The cake isn't growing, its unsustainable.

I'm not saying this IPO is any stronger or weaker than any other recent IPOs. All I do know is the later you are to the party, the lesser the chance of success.

If you launch this year, you've still got a good chance. So good luck with a speedy and successful launch. But as they say on Dragon's Den, I'm out.

Anyone thinking of IPOing a mining company 2014, forget it. The appetite will have long gone due to the ever increasing market place competition and inevitable bankruptcies that will start happening at turn of the year.

Ditto

At this point, any start ups would be better off trying to get a bank loan using these same projections

 

I've got  "Mining IPO Fatigue Fatigue" = MIPOFF.

People whining about 'too many' IPOs is the cause.   

The market decides a sector needs more firms when profits are excessive (cough, AM/Avalon, cough).

The more the merrier because consumers (of ASICs and IPOs) benefit from competition, as does BTC security.

If a plethora of options hurts your wee noggin, go play outside.  Or, suck it up and try harder.

[damiano]

BTCgarden is going to have to work extra hard trying for that 35% with this thing rolling out


500TH is no joke

[aoshea]

also, how much if ANY coins are the "shareholders/owners" putting up of their own money. or are they saying that their work/expertise is worth 40% management fee?

Yea need an answer on this one

see.. i think companies developing/running asics are worth more "management fees" as more difficult work is required (making the asics).
40% ownership if nothing is put up on their part (besides ordering and setting the facility up) is quite a big cut

Has this been answered/addressed yet?

[stslimited]

BTCgarden is going to have to work extra hard trying for that 35% with this thing rolling out


500TH is no joke

everyone has known about the hashfast technology that ActiveMining is selling. It would be out there whether these guys IPO successfully or not

a mass scale group buy is opportunity for those that don't want to take the mining risk themselves

[sayaz]

BTCgarden is going to have to work extra hard trying for that 35% with this thing rolling out


500TH is no joke

everyone has known about the hashfast technology that ActiveMining is selling. It would be out there whether these guys IPO successfully or not

a mass scale group buy is opportunity for those that don't want to take the mining risk themselves

Wrong company.

[Ukyo]

If I understand correctly, HashFast is not the same as FastHash.

-Ukyo

[stslimited]

If I understand correctly, HashFast is not the same as FastHash.

-Ukyo

wow, so it wasn't a typo

this is bonkers

[LordMeowMeow]

The fact you seem to have no idea what kind of profitability you will have doesn't inspire confidence at all. If we're investing millions of dollars we should get more than just a "Well we don't know, so just figure it out and take the risk." While difficulty is hard to predict it shouldn't be up to us to do the legwork. How about a set of possible outcomes? How about estimates on your costs like electricity? You should know this already before asking us for money along with what the risk levels are for each profitability outcome.

[yuansuyi]

People better get in fast because these shares are a bargain compared to the other mining companies. We are going to see another IPO mania (like Labcoin and BTCGARDEN) as people sell off their other mining shares to get in on the action.

By your logic, If some guys puts up another IPO to buy HashFast chips, we are going to see another IPO mania ?
Maybe you are just kidding.
Have HashFast said they will only sell chips to IceDrill ?