Now seeking investors for BitCorp Mining Company [Now pushing 40 GH/s!]

[yochdog]

I realized we never updated our financials for the month of December, so here they are!

Production (in BTC)                             338.12
Operating Expenses (in BTC)                129.82     
Free BTC flow                                      208.30


Dividends were sent out on the first of this month at a rate of .125 BTC per share.  We intend to keep that rate for the next 2 months, then consider another increase. 

We recently purchased some 7970's, and expect to reap significant efficiency gains from them.  Excited to see what they can do for us. 

-Bitcorp. 

[1714962592]

1714962592

[payb.tc]

can someone tell me the bitcorp p/e without making me visit the globesex website?

[yochdog]

can someone tell me the bitcorp p/e without making me visit the globesex website?

By my rough calculations, Bitcorp is priced at a P/E of 4.

I got there by taking the market cap of the company (8,000 BTC) and dividing it into my projections of annual income of 2,000 BTC.

[yochdog]

Time for a mid-month update!

Things are going great through the fist 20 days of January.  We have generated revenue of just over 250 BTC, and should be able to easily exceed 350 for the entire month.

Capacity continues to grow beyond my initial expectations, with our peak hashing speed now sitting at 16,900 MH/s!!  I know believe with some more opportunistic tweaking and GPU upgrades we can reach the magical 20,000 MH/s, truly putting us in the elite of hashing operations. 

Now for the catch.....to hit these ever increasing hash rates, we have in the last 30 days purchased 4x 7970's, 2x 5970's, and one full mining rig capable over of 1,000 MH/s+.

These are obviously major expenses, and will keep our profits down for the next several months.  I will amortize the expense over the next 4-6 months, in order to maintain our dividend at current rates.  The upshot is that with the price of BTC seeing the substantial rise it has over the last 6 weeks, it takes much less BTC to purchase these upgrades than before!

Feel free to ask any questions!

[yochdog]

UPDATE ON JAN 24th  We are making initial preparations for public listing on GLBSE!  Our ticker symbol is BTCMC (Bitcorp Mining Company).  Interested parties are welcome to purchase shares through GLBSE.  Current shareholders will continue to recieve dividends as promised, and need to contact us to transfer shares to GLBSE if desired.  

At this point, we are simply playing around with the beta version of GLBSE 2.0.....but plan on going live soon.  

[yochdog]

Dividends were paid to shareholders of record thismorning.

Financials will be updated once we tally all the numbers.....we just recently switched pools to avoid fees, which should help in the long run, but hurt us a little during the transition. 

[Indemnified]

UPDATE ON JAN 24th  We are making initial preparations for public listing on GLBSE!  Our ticker symbol is BMC (Bitcorp Mining Company).  Interested parties are welcome to purchase shares through GLBSE.  Current shareholders will continue to recieve dividends as promised, and need to contact us to transfer shares to GLBSE if desired.  

At this point, we are simply playing around with the beta version of GLBSE 2.0.....but plan on going live soon. 

Is this plan moving forward?

[yochdog]

UPDATE ON JAN 24th  We are making initial preparations for public listing on GLBSE!  Our ticker symbol is BMC (Bitcorp Mining Company).  Interested parties are welcome to purchase shares through GLBSE.  Current shareholders will continue to recieve dividends as promised, and need to contact us to transfer shares to GLBSE if desired.  

At this point, we are simply playing around with the beta version of GLBSE 2.0.....but plan on going live soon. 

Is this plan moving forward?

Still waiting on the verion 2.0 to go live.  Once it does, I will be contacting all current shareholders with instructions on how to transfer shares to GLBSE for trading. 

[Indemnified]

Time for a mid-month update!

Things are going great through the fist 20 days of January.  We have generated revenue of just over 250 BTC, and should be able to easily exceed 350 for the entire month.

Capacity continues to grow beyond my initial expectations, with our peak hashing speed now sitting at 16,900 MH/s!!  I know believe with some more opportunistic tweaking and GPU upgrades we can reach the magical 20,000 MH/s, truly putting us in the elite of hashing operations. 

Now for the catch.....to hit these ever increasing hash rates, we have in the last 30 days purchased 4x 7970's, 2x 5970's, and one full mining rig capable over of 1,000 MH/s+.

These are obviously major expenses, and will keep our profits down for the next several months.  I will amortize the expense over the next 4-6 months, in order to maintain our dividend at current rates.  The upshot is that with the price of BTC seeing the substantial rise it has over the last 6 weeks, it takes much less BTC to purchase these upgrades than before!

Feel free to ask any questions!

Would it be possible to get an update like last month? Thnx

[yochdog]

Time for a mid-month update!

Things are going great through the fist 20 days of January.  We have generated revenue of just over 250 BTC, and should be able to easily exceed 350 for the entire month.

Capacity continues to grow beyond my initial expectations, with our peak hashing speed now sitting at 16,900 MH/s!!  I know believe with some more opportunistic tweaking and GPU upgrades we can reach the magical 20,000 MH/s, truly putting us in the elite of hashing operations. 

Now for the catch.....to hit these ever increasing hash rates, we have in the last 30 days purchased 4x 7970's, 2x 5970's, and one full mining rig capable over of 1,000 MH/s+.

These are obviously major expenses, and will keep our profits down for the next several months.  I will amortize the expense over the next 4-6 months, in order to maintain our dividend at current rates.  The upshot is that with the price of BTC seeing the substantial rise it has over the last 6 weeks, it takes much less BTC to purchase these upgrades than before!

Feel free to ask any questions!

Would it be possible to get an update like last month? Thnx

Working on it!  Been pretty swamped tuning up the shiney new 7970's, as well as re-jiggering rigs for more density.  It is like a waterfall effect as GPU's filter down through the rigs, with the least efficient getting spit out.  I will have an update at the end of this month that will lay out our plan for the next couple months, and recap the financials for the last 60 days.

Stay tuned.....

[yochdog]

February is in the books, and we are very happy with our results.  We generated 416.44 BTC during the month, and pushed our mining speed to over 22,000 MH/s!  We are still working on getting everything stable at this speed, but our progress has been very encouraging.  Our build-out program is nearly complete and we plan on very little further investment until we can assess the impacts of the reduction in the rewards coming up. 

Production (in BTC)                             416.44
Operating Expenses (in BTC)                300.00     
Free BTC flow                                      116.44

We are amortizing the purchase of new hardware over the next several months, thus operating expenses will remain elevated during that time.  By mid-summer, we should be back to very low expenses and be turning a 300+ BTC profit. 

Financials have been updated on the first page. 

[yochdog]

Exciting news to report to current as well as potential investors:

-Our average Hashing rate has increased to 23,500 MH/s!
-We are planning on listing shares on GLBSE within the next 6 weeks. 

We are investigating how we will transfer current owners shares onto the exchange, stay tuned. 

[abbeytim]

  this is great i will be investing on glbse, also do you have some butterfly labs singles or other fpgas to help keep power costs down so better roi ??

[guruvan]

Exciting news to report to current as well as potential investors:

-Our average Hashing rate has increased to 23,500 MH/s!
-We are planning on listing shares on GLBSE within the next 6 weeks. 

We are investigating how we will transfer current owners shares onto the exchange, stay tuned. 

Very exciting news!

[yochdog]

Will have final numbers for the month of March soon, but here is our preliminary production:

433.34 BTC produced. 

[Indemnified]

Will have final numbers for the month of March soon, but here is our preliminary production:

433.34 BTC produced. 

I know that you are very busy, but I would appreciate seeing the final numbers for March if you get a chance.

[yochdog]

Will have final numbers for the month of March soon, but here is our preliminary production:

433.34 BTC produced. 

I know that you are very busy, but I would appreciate seeing the final numbers for March if you get a chance.

Hey there, No worries at all.....it helps to have a friendly reminder once in a while!

Here they are:

Production:  431.11 BTC
Expenses:    300.00 BTC (including amortized cost of hardware to make an even 300)
Free BTC:    131.11 BTC

We are pretty much topped out on capacity for now.  I might be able to make incremental improvements, but nothing like the growth of the last 5 months.  Also, with difficulty rising fairly consistently, we might see our first production decline ever in April.  I am holding out hope we can squeeze out a small increase though! 

[yochdog]

April is in the bag, and once again it looks like we hit a new record for BTC production. 


Preliminary number:  451.39 BTC


Dividends were sent out this morning to shareholders of record.  Once we get expenses tallied, we will post the final numbers as well as an update on GLBSE listing. 

[yochdog]

Final numbers are in, and they did not change:

Production:  451.39
Expenses:    300.00 (should be last month of excessive expenses)
Free BTC:    151.39


GOOD NEWS!

We are now listed on GLBSE, and I we can transfer current shareholders to that platform if they desire.  Head on over and open an account, then get in touch with us with your username so we can transfer the assets. 

Ticker symbol is:  BTCMC

[sadpandatech]

Final numbers are in, and they did not change:

Production:  451.39
Expenses:    300.00 (should be last month of excessive expenses)
Free BTC:    151.39


GOOD NEWS!

We are now listed on GLBSE, and I we can transfer current shareholders to that platform if they desire.  Head on over and open an account, then get in touch with us with your username so we can transfer the assets. 

Ticker symbol is:  BTCMC

Glad to see you guys are still going strong with this. And now that you are on GLBSE I intend to purchase some shares in your company.

Cheers