[796.com] Red Star Mining est. January 2012

[Red Star Mining]

This is the new thread for RSM shareholders and investors.

[Red Star Mining]

For new interested parties please check our home page - www.redstarmining.com

[Red Star Mining]

Google+ - www.google.co/+Redstarmining

Twitter - www.twitter.com/redstarmining

[matthewh3]

I can confirm that this is the new thread to take over in my absence.  RSM has spent over three years earning trust on this forum.  They've set this up as a self moderated thread but hey this is a forum and no one is stopping anyone else from creating other threads about RSM.  So please ignore the 'have a go hero' making RSM out to seem to be a scam.  Like I said I was told the Q1 financial and actions statement may be out by as early as next week.  I'll try to show my face in the thread when I can and will try to read every post.

[tekke]

Thanks for the announcement , hope you get better. Any news about dividends?

[chalbersma]

Thanks for the announcement , hope you get better. Any news about dividends?

Divs are being processed for this month. In addition I'm working on the Q1 Financial Statement. Hopefully I can finish it by the 15th but there's a lot of content so It might push a bit longer.

[Red Star Mining]

PSA: 796 Post Heartbleed

796.com, the market provider for RSM shares, has re-issued it's SSL certificate (did so on 4/7/2014) and is requiring customers to change their passwords post heartbleed. Please be sure to login to 796.com and change your password. Also if you haven't done so already please also enable two factor authentication.

[Red Star Mining]

April 1st Dividends Summary

Dividends

Dividends for the Month of March (April 1^st dividends) are out. Summary of Divs below:

Item	Amount
Divs Total	0.50000000
Shares	132,000
Divs/Share	0.00000378

Buyback

You may have noticed that the total Share amount is lower than it was last month. That's because another 1,000 shares have been bought back off the market through our share buyback policy. This leaves us with a total of 132,000 shares on the market.

2014 Q1 Financial Statement

In accordance with our new policy we will now be releasing Financial Summaries and quarterly statements. Our next full financial statement is being prepared. We hope to be in a position to release it by April 30th although we understand that this goal may not be possible due to the large size of the report.

March Financial Summary (April 1^st)

Item	Value
Revenue	1.38504707
Revenue Adjust	-1.38504707
Costs	-1.31450612
Cost Adjust	1.31450612
Post Cost Revenue	0.00000000
Salaries	0.00000000
Salaries Adjust	0.25000000
Post Salary Revenue	0.00000000
Re-Invest	0.00000000
Buyback	0.00000000
Divs	0.00000000
Divs Adjust	0.50000000
Final Divs	0.50000000

We had no mining revenue this month. Last month we sold off our Jupiters and this provided the funds for the salary fund and the dividend (with the remainder to be paid out over the next months. Our "Revenues" for this month were in relation to our motion. In which we took money from our buyback fund in preparation to invest it in other places. This option at the moment is not being exercised as the price in our opinion is too low. The costs were primarily for our new p2pool

In accordance with the Jupiter sales we have exercised our an additional 0.500 BTC for this dividend with the expectation that we will pay the remainder out over the next few months with the ultimate goal of maintaining a dividend between 0.5 BTC and 1.0 BTC. Additionally we've exercised 0.25 BTC from the Jupiter Sale to the Salaries Fund with the expectation that we will continue to do so until the Jupiter Sale Salary Fund is Depleted.

[Red Star Mining]

KNC Neptune Refund Received

Our KNC Neptune order has been refunded. Total refund was 102 xbt, more bitcoin than we believed the Neptunes would mine in their operational lifetime. Of the 102 xbt approximately 46 xbt is a bitcoin profit meaning approximately 2.3 xbt will be allocated to buyback and salaries with a further 4.6 xbt associated with dividends.

This is in addition to our Jupiter Sale funds allocated for Dividends, Salaries and Buybacks. With these added funds we can sustain a dividend of 0.5 xbt for over a year.

RSM plans to utilize these funds in a similar way to our past purchases. To wait for in hand hardware that we can purchase. Ideally leveraging a higher bitcoin price.

BTC in Space Going Well

Coindesk is reporting that a project RSM is an official sponsor of, the Bitsat project, has signed an agreement with Dunvegan Space Systems Inc. to launch their satelites into space.

2014 Q1 Financial Summary

It's coming! Just a few more finishing touches left and we'll have the Q1 Summary out.

[tekke]

RSM plans to utilize these funds in a similar way to our past purchases. To wait for in hand hardware that we can purchase. Ideally leveraging a higher bitcoin price.

Good move. Any news about the scrypt Asics that were ordered?

Have you checked the gridseed blade? I've seen a few of them listing in here with good prices, what do you think about it?

[Red Star Mining]

RSM plans to utilize these funds in a similar way to our past purchases. To wait for in hand hardware that we can purchase. Ideally leveraging a higher bitcoin price.

Good move. Any news about the scrypt Asics that were ordered?

Have you checked the gridseed blade? I've seen a few of them listing in here with good prices, what do you think about it?

The latest news from Alpha was on April 14th to say that they were initiating tape-out - https://alpha-t.net/news - That means that they're on schedule.  We haven't paid in full yet for our four pre-ordered >90MH/s rigs.  While they did state that they would ask for full payment eight to ten weeks before shipping.  So when we announce that we've paid in full for the rigs then that should be a good indicator on how long is left before we starting hashing.

As for the Gridseed devices well we don't think that they would ROI in coins before the Alpha's are released and make the Gridseed's unprofitable.

[Red Star Mining]

Red Star Mining 2014 Q1 Financial Statement

Red Star Mining is releasing it's 2014 Quarter 1 Financial Statement. You can download it in pdf format here or view it on Google Docs.

[Red Star Mining]

New Motion Up

RSM has placed a New Motion up on Loomio. Motion Text Below:

I've been following Darkcoin and it's attempt to implement a decentralised implementation of Coinjoin since the coins inception. In that time it has grown to become one of the top ten alt-coins. With daily trading levels almost reaching that of Dogecoin recently.

Darkcoin is now to implement master-nodes as part of the Darksend protocol. These master-nodes will receive a share of generated coins plus transaction fees. To operate a Darkcoin master-node the node must hold a balance of at least 1000DRK. So we're holding this motion to decide whether RSM should start buying 33.3DRK per day until we're holding 1000DRK and can operate a master-node. 33.3DRK would be bought per day for a month so that we get an average DRK/BTC price. Although I expect the the DRK rally to continue on full implementation of Darksend and the use of master-nodes.

We have a staff member who works as a professional Linux system admin to operate the node.

Info on Darkcoin - http://www.darkcoin.io/intro.html

Please head over to Loomio to vote. If you are a shareholder and do not have access to our loomio group please email chris@redstarmining.com with your relevant information and we will get you invited.

[lunarboy]

Following the new thread.

[Red Star Mining]

MAY 1 Dividends Summary

Dividends

Dividends for the Month of April (May 1^st dividends) are out. Summary of Divs below:

Item Amount Divs Total 0.50000000 Shares 132,000 Divs Per Share 0.00000378

April Financial Summary

Item Amount Revenue 0.07448159 Revenue Adjust 0.00000000 Costs -0.59170194 Cost Adjust 0.59170194 Post Cost Revenue 0.07448159 Salaries* 0.00372408 Salaries Adjust 0.25000000 Post Salary Revenue 0.07075751 Re-Invest 0.06014388 Buyback 0.00353788 Divs 0.00707575 Divs Adjust 0.49292425 Final Divs 0.50000000

We had our final bitcoin payout from our Jupiter’s mining this month. This constituted our only mining revenues. Our costs were the Hosting & Salary costs from February and March as we hadn’t paid out our February costs.

The dividend from last month was paid out of the Jupiter Sale and Neptune Refund money and didn’t show up in our mining address. You can view the full list of our accounts on our 2014 Q1 Financial Statement.

Approximately 7mBTC of our dividend came from mining income the remaining 0.49 BTC came from our Jupiter and Neptune Sales. A similar breakdown (3mBTC; 0.25 BTC) was used for salaries. There is 6.7 BTC left in the Dividend fund from the sales which we plan to disperse monthly at a rate of 0.5 BTC or 1/12^th of what is left in the fund whichever is lesser.

[Red Star Mining]

Bitmine.ch Update

Bitmine.ch has released an update about their Coin Craft Rigs (of which RSM has one on order). The news is promising. If your interested take some time to read the latest news here.

[Red Star Mining]

A bit of preliminary good news is that we are having 5(TH/s)@5kW shipped to us on Friday.  We paid BTC16.00 for this on February 1st.  The Alpha Viper Scrypt rigs are still on schedule to ship in July.  While we still have to pay £15k towards this >360MH/s by June 6th.  We are just hanging on for any more bitcoin price rises.

[Red Star Mining]

A bit of preliminary good news is that we are having 5(TH/s)@5kW shipped to us on Friday.  We paid BTC16.00 for this on February 1st.  The Alpha Viper Scrypt rigs are still on schedule to ship in July.  While we still have to pay £15k towards this >360MH/s by June 6th.  We are just hanging on for any more bitcoin price rises.

Sorry after an update today we are no longer receiving ~360(MH/s) of Scrypt ASIC's off Alpha in July.  We're actually receiving 1(GH/s) now instead in July - https://alpha-t.net/news/performance-increase - so that's two major pieces of good news for RSM today 

[tekke]

thanks for the great news!!!, it should help us improve the dividends a lot!

[Red Star Mining]

thanks for the great news!!!, it should help us improve the dividends a lot!

The current dividend fund does hold BTC6.7 we are just being very conservative in paying it out as we know we won't be adding to the fund until the Alpha-T or Bitmine devices have seen a positive bitcoin ROI.  Which should be in the Autumn/Fall for both devices.   Although if the Alpha-T devices are the first substantial Scrypt ASIC's to market by a good while.  Then the Alpha-T devices should ROI very quickly and start adding to the dividend fund during late summer.  Even if both sets of devices don't do amazing well then we should still get the reinvestment fund to around BTC150.  Which if you divide over the current 131,000 shares without any more buy backs going through.  Would value each share at over BTC0.0011, so if we do well off both sets of devices.  Then the intrinsic value of each share should be much higher than that.  While that's just the intrinsic value, speculation should hopefully drive the share price even higher some more.