If you produce a professional quality business plan for this, such as I would expect from a "real world" investment opportunity, which demonstrates to me you are serious and competent, I pledge to match whatever Peter L initially invests in you up to the BTC equivalent of £250.
If you deliver ~10% annual return over the first 6 months of operation, I'll double my investment. If you deliver ~10% annual return over the next 6 months, I'll double my investment again.
I want Bitcoin to succeed and I will put my hard earned money where my mouth is.
If you can offer me three verifiable examples of your solid reputation via sites such as Ebay etc ... I will double the investment pledges made above.
Feel free to PM me.
Ben, here is the business plan.
Executive SummaryThrough superior management, effective leveraging of technology and a focus on results, BitCorp Mining Company (BitCO) will become the pre-eminent commercial Bitcoin Miner.
Objectives1. Increase mining capacity when cost effective, up to 15 GH/s.
2. Generate sufficient excess BTC to pay a stable and generous dividend.
3. Develop a well informed, financially savvy investor base.
MissionBitCorp is built on the assumption that there is a distinct lack of trustworthy and responsible Bitcoin mining businesses. We aim to change that perception by being unquestionably trustworthy and responsible, while also displaying the utmost professional ability. Our number one priority is our shareholders. To that end, we strive to create value through honest dealing and solid dividend payments.
Keys to Success1. Differentiate from fly-by-night operators.
2. Build solid reputation that makes investors want to get involved.
3. Increase share price through consistent and unfailing monthly dividends.
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Company SummaryBitCo is a mature organization with stable operations. Through our network of 26 miners, we are able to maintain a stable mining capacity of 10 GH/s. Our technical know-how allows us to achieve fantastic up-time with few unplanned outages. Our cost structure is very low due to favorable cooling methods as well as very cheap electricity.
Company OwnershipBitCO is currently majority owned by its founder, with a minority stake being held by our CTO. No other individuals currently have an ownership stake.
Company HistoryBitCO has been successful in BTC mining from its very first day of operation. Started in February of 2011, BitCO has grown organically to its current size.
Past Performance June July Aug
Production (in BTC) 63.7 85.9 121.35
Operating Expenses (in BTC) 31.5 45.2 55.6
Free BTC flow 32.2 40.7 65.75
Balance Sheet: AugustShort-term Assets
Cash: BTC 127.55
Accounts receivable: BTC 80
Total Short-term Assets: BTC 207.55
Long-term Assets
Capital Assets: $7,502
Total Long-term Assets: $7,502
Total Assets: $7,502
Company Locations and FacilitiesWe have three locations:
1) A residential office, with 3,000 MH/s of capacity. Upgradable and expandable.
2) 2,000 SF class A office space with 3,000 MH/s of capacity. Nearly maxed out on capacity.
3) 3.500 SF class A office space with 4,500 MH/s of capacity. Large additional capacity.
Products and ServicesBitCO engages in 2 lines of business. The primary business activity is the mining of Bitcoin. The secondary business is the occasional selling of a mining contract to 3rd parties. When management finds it advantageous, they engage in mining contracts that are short-term in nature and encompass a portion of BitCO’s capacity.
Competitive ComparisonBitCO has built a cutting edge, highly reliable network of miners. Our operations are not what you would find in a garage of a teenager stealing their parents electricity. All of our machines are state of the art, properly cooled, and adequately protected from the elements (read: no naked motherboards lying on boxes).
Main CompetitorsThere are currently several mining companies already is existence, but we do not view them as competitors. Namely, since we are not competing for customers of a product, but merely mining a commodity, we do not compete. That being said, we aim to be the pre-eminent investment opportunity in the Bitcoin mining community for the reasons stated above.
Strategy and Implementation SummaryOur strategy is to continue to operate professionally, and provide great returns to our shareholders. We would like to broaden ownership of BitCO in order to both unlock value, as well as broaden the investment opportunities available for BTC. We plan to implement our strategy with a private placement of a small number of shares to interested parties that meet our criteria.
