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Author Topic: [ActiveMining] Official Shareholder Discussion Thread [Moderated]  (Read 629714 times)
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drasted
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March 27, 2014, 12:52:20 AM
 #1141

What chip are we using Ken?
auto2nr1
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March 27, 2014, 12:53:06 AM
 #1142

Weekly Update 3/26/2014

AMC Mining:

We have completed the signing of our lease for our ~3,700 sq feet datacenter.  The datacenter has 2 480 Volt 250 amp 3 phase power supplies, plus a backup generator which supplies the same amount, the air conditioning has it own power supply.  we are in the process of bringing this datacenter online with ~100 TH of mining equipment.  We also expect to increase to 200 TH within 4 weeks after bringing up the first 100 TH.  The datacenters power and air conditioning can easily support up to 800 TH of mining equipment.  We are planning on adding 100 TH per month until we reach the maximum above.

Shares:

We want to get share trading up and running on Colored Coins as soon as it is safe and legal to do so.

VMC:

VMC will be issuing a press release in the near future.


Mining Farm
Can you let us know when you expect to have the first 100TH online? That way we can gauge when the 200TH and the 300TH will be up and running. You are saying you are going to be adding 100TH per month so as long as we know when you expect to have the first set of 100TH machines up it will give us a roadmap of when to expect more hashing power to come online.

Shares
You are not going to give access to our shares anytime in the near feature? Who knows when it will be safe and legal to do so. I think you need to think about this and work with the shareholders who's shares are held hostage. Get us trading on Crypto-Trade temporarily and then move to the best platform (Colored Coins) when it is safe for the long term.

Chips
What is going on with the development of our own chips? Can you share details of what is going on with this? We need more information about what is the progress we have made so far and what we plan to accomplish the next few months. Please share as much information as you can.
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March 27, 2014, 12:54:35 AM
 #1143

What happened with the Eligius hash power?

The Eligius hash power was from a Demo/Development board.  This hashing power is subject to removal at any time to do a Demo or to do Development work.  We are using the board at the present time to help us bringing up our 100 TH along with the boards power supply which has to be modified.

This is interesting.  Who do you do demos to?

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March 27, 2014, 01:04:44 AM
 #1144


Mining Farm
Can you let us know when you expect to have the first 100TH online? That way we can gauge when the 200TH and the 300TH will be up and running. You are saying you are going to be adding 100TH per month so as long as we know when you expect to have the first set of 100TH machines up it will give us a roadmap of when to expect more hashing power to come online.

As of today we have the 100TH in hand; however, we are working on getting the 480 3 phase power stepped down to 240/120.  The miners take a lot of power in a small space.  As soon as we get the power step down equipment installed and running the miners you will start to see the hash rate increase in our Eligius mining account address.

Quote
Shares
You are not going to give access to our shares anytime in the near feature? Who knows when it will be safe and legal to do so. I think you need to think about this and work with the shareholders who's shares are held hostage. Get us trading on Crypto-Trade temporarily and then move to the best platform (Colored Coins) when it is safe for the long term.s,

Yes, we might do this.  I will be looking at this as soon as we get the mining up and running.

Quote
Chips
What is going on with the development of our own chips? Can you share details of what is going on with this? We need more information about what is the progress we have made so far and what we plan to accomplish the next few months. Please share as much information as you can.

We are still working on development of our own chip.
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March 27, 2014, 01:04:56 AM
 #1145

What happened with the Eligius hash power?

The Eligius hash power was from a Demo/Development board.  This hashing power is subject to removal at any time to do a Demo or to do Development work.  We are using the board at the present time to help us bringing up our 100 TH along with the boards power supply which has to be modified.

Oh, also, how come a development board figures in your deployment schedule?

How many boards will it take to bring up 100TH/s?

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March 27, 2014, 01:07:28 AM
 #1146


As of today we have the 100TH in hand; however, we are working on getting the 480 3 phase power stepped down to 240/120. 

Oh dang, the data center you leased didn't provide you with power you could actually use?  Should have read the fine print I guess!

But no doubt this hurdle will soon be overcome. Live and learn!

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March 27, 2014, 01:12:58 AM
 #1147

So our max hashing is only 800TH?

I was hoping for 1-2 PH out of this datacenter
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March 27, 2014, 01:17:35 AM
 #1148

As of today we have the 100TH in hand; however, we are working on getting the 480 3 phase power stepped down to 240/120.  The miners take a lot of power in a small space.  As soon as we get the power step down equipment installed and running the miners you will start to see the hash rate increase in our Eligius mining account address.


When do you expect to get the power step down equipment installed and running? Will this be done before the end of March? Please give us your estimated date of when this will happen and when our 100TH will be hashing.

Yes, we might do this.  I will be looking at this as soon as we get the mining up and running.


Please get us trading as soon as possible. It has been several months now.

We are still working on development of our own chip.


Thank you for confirming that we are still working on our own chips. How far along are we in the chip development stage? Can you give us specifics on who is working on the chips and when we might hit certain deadlines. It doesn't have to be exact but please give your estimated time frame of when you expect us to be using our own chips for our mining farm and VMC machines.
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March 27, 2014, 01:21:45 AM
 #1149

So our max hashing is only 800TH?

I was hoping for 1-2 PH out of this datacenter

It is just a power and air conditioning limit.

Edit:  When we get close to that limit, we could bring in more power and air conditioning.
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March 27, 2014, 01:27:45 AM
 #1150

So our max hashing is only 800TH?

I was hoping for 1-2 PH out of this datacenter

It is just a power and air conditioning limit.

Edit:  When we get close to that limit, we could bring in more power and air conditioning.

Earlier you said that you had to actually take a dev board away from development/demo use and modify its power supply in the effort to bring your mining rate up to 100TH. Can you elaborate on this? It seems an odd thing to do.

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March 27, 2014, 01:33:10 AM
 #1151

hope you are telling the true this time ,otherwise we all will get burned . thank you for your hard work,ken

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March 27, 2014, 03:19:33 AM
 #1152

So our max hashing is only 800TH?

I was hoping for 1-2 PH out of this datacenter

It is just a power and air conditioning limit.

Edit:  When we get close to that limit, we could bring in more power and air conditioning.

Ah ok

Sweet

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March 27, 2014, 03:26:54 AM
 #1153

@ Ken

So we are:

  • Paying back refunds (or soon will be).
  • Buying chips to start mining with. Up to 800TH (starting at 100TH)
  • Working towards our own custom 28nm

All while 450(?) About 1/3 to 1/4 of our coins were lost on GOX. How are we funding all of this?

On a related note; what is the conclusion with eAsic, what did we gain/lose with our business with them?

What is your educated guess for when our 28nm chips will be good to go? (off the "Ken said by XX/XX/XX, so WTF!?!?!" record).

PS: We can still expect a Full Financial Report before/on the next Wednesday update right? Answer what you can I'm sure someone else will carry the torch and ask the unanswered ones again.
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March 27, 2014, 04:16:38 AM
 #1154

Hey Ken, take a picture of your 100th of miners that you have on hand so we can see them.

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March 27, 2014, 04:32:45 AM
 #1155

Hey Ken, take a picture of your 100th of miners that you have on hand so we can see them.


+1

Also, I understand the delicate situation of transferring shares back to the shareholders, however, why can't these holdings at least be verified in the meantime?

Seems like it would reduce tension and time wasted later on when the chosen platform is completed.

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March 27, 2014, 09:11:48 AM
Last edit: March 27, 2014, 02:42:08 PM by VinceSamios
 #1156


As of today we have the 100TH in hand; however, we are working on getting the 480 3 phase power stepped down to 240/120.  The miners take a lot of power in a small space.  As soon as we get the power step down equipment installed and running the miners you will start to see the hash rate increase in our Eligius mining account address.



Ahhhh... planning... a lost art.

Step down to 240, not 120... No point doubling the copper to carry double the amps if its not needed... 240v will do nicely.

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March 27, 2014, 12:55:05 PM
 #1157

Why dont we switch to direct shares like AM has been doing it? You can then easily convert them into tradable option. And every one could sleep a bit better
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March 27, 2014, 02:04:11 PM
Last edit: March 27, 2014, 02:20:18 PM by zumzero
 #1158

VMC:

VMC will be issuing a press release in the near future.

This is what pricked my ears up.  I sincerely hope this means that product sales are imminent and that mining has not become our primary focus.

The step down transformer should be a quick install so I suppose we start mining within a day or so of it being delivered?

Ken, can we discuss dividends please?  We will soon be farming and it's your duty to pay dividends to your shareholders.  What percentage of mined coin will be paid out to shareholders, used for operating costs and reinvested? Presumably we can't receive dividends until we have been granted access to our shares so I'll assume this is in hand.  There have been a number of good suggestions made which gives you choices, all of which will see faith restored and a much needed injection of good will.

Thanks for your recent update and taking the time to address a few questions, we appreciate you are working extremely hard to make your shareholders successful.

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March 27, 2014, 02:50:23 PM
 #1159

2 x 480v 250 amp 3 phase...

750amps at 480v per supply = 360,000w

= 720,000w total supply

So Ken has calculated that he will be running under 0.9w/gh


With all that said - I suggest Ken should double check it is 250amp per phase, and not 250amp total per supply.

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March 27, 2014, 02:51:36 PM
 #1160


As of today we have the 100TH in hand; however, we are working on getting the 480 3 phase power stepped down to 240/120.  The miners take a lot of power in a small space.  As soon as we get the power step down equipment installed and running the miners you will start to see the hash rate increase in our Eligius mining account address.



Ahhhh... planning... a lost art.

Step down to 240, not 120... No point doubling the copper to carry double the amps if its not needed... 240v will do nicely.

Our system in the US is 240/120
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