-=BTC=-HIVE.MINER-=BTC=-
THIS PROJECT HAS BEEN CANCELLED/POSTPONED.
All shareholders that paid for shares will be refunded.
I'm starting a Bitcoin mining co-op under the name HIVE.MINER, and would like to open it up the possibility for investment.
"Phase 1": The first mining hardware is going to be purchased by myself out of pocket at a cost of under
1BTC and produce a small but impressive
3 GH/s!! This ratio of
<1BTC per 3GH/s is achieved through my partnership with BarnTech and makes use of his custom designed Bitfury powered DrillBit USB (
DBT) hashing at ~
2.7GH/s. The HIVE.MINER mine will also feature his Bitfury powered DrillBit 8 (
DB8) mining system hashing at ~
21.6GH/s once the mine progresses onwards into
"phase 2" and beyond.
The launch of "phase 1" of this project will be powered initailly by a Drillbit Thumb USB (~
2.7GH/s) hashing along side a single AsicMiner BE USB (~
334MH/s), This will give the initial "phase 1" mine
3GH/s. This is assuming only %0-%25 of the shares are bought. to bring in a
21.6GH/s DB8 mining system for the "phase 1" launch. I know that this isn't a *huge* amount of hashpower.. But "phase 1" is set to generate just over 0.42
BTC its first month given that when deployed the
network difficulty will be over 105 Million by my estimates. Regardless of phase 1 starting at
3GH/s or
21.6GH/s I have great hope for this project!
Having worked with BarnTech, I've received a very fair discount on his mining equipment. This gives us a slight edge to get ROI faster! And what a faster ROI means is that the mine will be able to add hashing power quiet quickly in the upcoming phases after the "phase 1" launch!
Being able to purchase a ~
2.7GH/s miner at a cost of
0.60BTC and given the ~
334MH/s hashing power of the AsicMiner BE at a price around
0.13BTC that puts us at a total of
~0.73BTC per ~
3GH/s. The remaining
0.27BTC will be put towards shipping costs. Anything left over shall be put into the profit pool. In the event BarnTech cannot supply me the miners at this price I will pay the extra out of my own pocket to insure the smooth running and ramp up of this mine. The DrillBit Systems are shipped from Australia.. and needless to say it's not cheap to have them shipped half way across the planet. Alternatively if the shareholders rally and purchase all remaining shares before Barntech ships the first DrillBit USB, I will be bringing in
3x21.6GH/s Drillbit 8 boards(DB8) to add to the hashpower / dividend making in phase 1!
(If
all shares are bought before BarnTech is ready to ship the first Drillbit USB outlined in "phase 1", the "phase 1"
could start at ~74GH/S with 3x DB8 miining systems!)
The DrillBit USB's (DBT) and
Drillbit 8 (DB8) boards are in production now and the final coding is being finished as I write this. The prototypes have been populated and everything seems to be good, Just waiting on the guy responsible for programming to finalize his code. It's been said by BarnTech that these units should be in hand before the end of this month, giving a small advantage over the network difficulty increases that are surely coming.
This initial
3GH/s of hashing power is estimated to make
~.45 BTC the first month (
*OR* if all the shares are sold before
"phase 1" hardware is finished up and shipped,
we stand to mine ~4.13BTC) given the estimated difficulty rating of the Bitcoin network at launch (Estimating at around 105 Million network difficulty). Of course we all know the difficulty will rise at least 20% per a difficulty change. So if we factor in lets say 25% difficulty rise the initial
3GH/s mine will ROI in roughly 2 months or perhaps less. After that it will start printing Bitcoin profit at a relatively steady rate, which will be used to pay dividends to share holders more quickly and invest in more
DB8's.
The mine shall be hosted in my apartment unless a better place can be found, I do not pay for electricity nor internet so the cost of hosting the mine is absolutely zero to me and any potential investors. This means more profit and higher dividends / quicker payouts for all involved with the project. All hardware will be in an air conditioned space with a fan providing airflow. As someone with an electronics background I can tell you first hand heat is a huge enemy of technology. I've already got a laptop waiting to host the mining hardware. Powered USB hubs will be purchased if needed but for the initial mine it will not be necessary. (nor will they be needed if the mine goes full on
DB8 21.6GH/s systems)
Profit pool: In order to stay on top of the difficulty rate I am proposing initially that
30% of the Bitcoin mined by HIVE.MINER go back into hardware in order to grow the mine to battle the rising network difficulty, Not only will this insure the mine stays profitable, But will also make dividends / payouts grow greatly with time. The faster we can build up this mine the more profitable it will be for all shareholders. Most mining shares seem to have dividends /payouts that go down the longer you hold the share, the intention behind the the design of HIVE.MINER is to ensure the opposite happens. In theory every ~2 months the Hashrate of the HIVE.MINER project should double, drowning any worries of dividends becoming weak. The remaining
70% of the Bitcoin mined shall go to the shareholders as dividends tallied daily.
After some months the mine should eventually hit "critical hash" where it is able to pay for its upgrades in 2-3 weeks of mining. At this point the HIVE.MINER project will start to pay out 90% of Bitcoin mined to shareholders because it will only need 10% of Bitcoin mined by it for upgrades to compete with the difficulty rising. The goal is to eventually grow the mine to the point where it no longer needs 10% of the BTC mined for upgrades to compete with the difficulty level increases. At which point in time 95% of the Bitcoin mined will be paid out to shareholders. The remaining 5% will be used for repair and maintenance of the mine and its hardware.
The first step of this plan is already put in motion by me! The
3GH/s HIVE.MINER "phase 1" project should be up and running in the first few weeks of October if not earlier. I have received the AsicMiner Block Erupter (333MH/s) in the mail and it is hashing away happily!
Initial hashrate will be
3GH/s at a cost of
<1BTC to myself. This will be doubled / tripled / quadrupled etc etc as shares are bought! Whenever the amount of shares bought equals the purchase price of the
21.6GH/s DB8 mining system one will be bought and brought online.
I was thinking to purchase ~
2.7GH/s DBT to make up the majority of miners.. but after crunching some numbers and talking to BarnTech we've decided that the most profitable route is to go with the DB8 systems hashing at ~
21.6GH/s a piece.
Shares:I will work on a BTCT.CO IPO once 25000 shares have been bought and held for 1 day.HIVE.MINER will be offering
100000 public shares @ 0.0001BTC per a share.
The mine itself will consist of
100000 private shares.
*IF* majority shareholders see it fit to put the private shares up for sale, then
3/5ths of the top 5 shareholders will have to agree to make them available. Initially I was going to have full control over selling these shares, But decided to allow the top 5 shareholders vote and decide!
Shares sold: 1704 out of 100000Shares may be traded/sold with other users, But must be done so in a public manner on this post (And later on BTCT.CO once I have it set up) so dividends are paid to holders in proper amounts.
Any and all share trading *can* be done on this thread. Please also PM me your traded amount so I can keep it for my books.The HIVE.MINER venture reserves the right to buy back any amount of these shares at fair market price at any time.
In the case it is decided that the HIVE.MINER venture is to buy back shares, Both the HIVE.MINER President (KLYE) and Vice President (Tom)
Also, anyone holding
51% or more of the
100000 available public shares will have say in direct say in dividend payout percentage / future technology investments and be personally appointed by me (KLYE) "
Vice President of HIVE.MINER"!
Shares can be purchased @ 0.0001BTC a share here: 1MiNEZrBQ1Uo4dWQ3WZhbDgaZHiEYp6JPdPlease PM me TXID *or* post it in the pages below so I can keep tally of who has bought what in my books.
Dividends will start being paid the first day the 3GH/s is online. Although buying shares now entitles you to your share's worth of the AsicMiner Block Erupter's daily mining profit. But this will not be paid out until the first step of the HIVE.MINER project is online and hashing.
Also, I have asked bitcointalk.org user "Dooglus" if he would act as a sort of "dead man switch" and take care of assets if I for some reason am unable to perform my duties, and or are killed / sick / crippled. He has promised he will take care of things should something happen to myself.
Hopefully we can get "phase 1" shipped and hashing by mid October or early November 2013.
I'm excited to develop this project and to help it evolve and flourish! Thank you for your interest in HIVE.MINER!
Equipment online:1 X AsicMiner Block Eruptor
Current HIVE.MINER hashrate: 335.5MH/s producing roughly ~0.0025BTC / 24 hours.Cheers to everyone!
Happy Hashing,
HIVE.MINER PresidentKLYE
