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

[Red Star Mining]

Mining Update

RSM has taken delivery of 4 out of 5 of our modified Bitmine.ch hardware. Originally we were suppose to receive 2.8 TH/s of hardware but we will receive approximately 5 TH/s when all the miners are delivered. We still have one miner that got caught up in customs and we expect it in the next few days.

We’re still working out the kinks but you should be able to monitor our overall progress on bitparking by following miner 341f4052 on the Bitparking Statistics Page.

[tekke]

Any news or update? This month divs maybe?

[chalbersma]

Any news or update? This month divs maybe?

An off the cuff update we have the hardware and it's hashing. We're having some hosting issues at this moment. We moved it to a cheaper data center but have been having access problems will update when we get it all sorted out. Div are incoming we are a bit behind because of the miners but it's very high up on our to do list. Additionally we're working on the Q2 Financial summary.

[tekke]

Still no news for this month?

[Red Star Mining]

Still no news for this month?

Sorry super busy. There is a mining update included in our Q2 '14 Financial Statement.

[Red Star Mining]

Q2 2014 Financial Statement

RSM’s Q2 2014 Financial Statement is out. You can view it online here or you can view the pdf version here.

[tekke]

Q2 2014 Financial Statement

RSM’s Q2 2014 Financial Statement is out. You can view it online here or you can view the pdf version here.

Thanks for the info. Very clear Statement

[chalbersma]

Q2 2014 Financial Statement

RSM’s Q2 2014 Financial Statement is out. You can view it online here or you can view the pdf version here.

Thanks for the info. Very clear Statement

Thanks let us know if there's any questions we missed.

[Red Star Mining]

We've just purchased 12.4(TH/s)@13kW@$13.3k for immediate delivery.  There's a proper update coming soon.  This'll take our total hashrate up to 17.5(TH/s)@18.1kW. Of which we pay a hosting fee of $0.14USD per kWh used flat rate.

[runam0k]

We've just purchased 12.4(TH/s)@13kW@$13.3k for immediate delivery.  There's a proper update coming soon.  This'll take our total hashrate up to 17.5(TH/s)@18.1kW. Of which we pay a hosting fee of $0.14USD per kWh used flat rate.

Good work chaps.  How immediate is "immediate"?

[Red Star Mining]

We've just purchased 12.4(TH/s)@13kW@$13.3k for immediate delivery.  There's a proper update coming soon.  This'll take our total hashrate up to 17.5(TH/s)@18.1kW. Of which we pay a hosting fee of $0.14USD per kWh used flat rate.

Good work chaps.  How immediate is "immediate"?

It's been paid for in full and should hopefully ship within three days as of now at the latest.

[Red Star Mining]

We've just purchased 12.4(TH/s)@13kW@$13.3k for immediate delivery.  There's a proper update coming soon.  This'll take our total hashrate up to 17.5(TH/s)@18.1kW. Of which we pay a hosting fee of $0.14USD per kWh used flat rate.

Good work chaps.  How immediate is "immediate"?

It's been paid for in full and should hopefully ship within three days as of now at the latest.

We purchased from these - http://www.btcgarden.com - https://bitcointalk.org/index.php?topic=622439.0 - for interested parties.

[Red Star Mining]

We've just purchased 12.4(TH/s)@13kW@$13.3k for immediate delivery.  There's a proper update coming soon.  This'll take our total hashrate up to 17.5(TH/s)@18.1kW. Of which we pay a hosting fee of $0.14USD per kWh used flat rate.

Good work chaps.  How immediate is "immediate"?

It's been paid for in full and should hopefully ship within three days as of now at the latest.

We purchased from these - http://www.btcgarden.com - https://bitcointalk.org/index.php?topic=622439.0 - for interested parties.

Four or five miners should ship tomorrow the 25th.  While the other fifteen or sixteen will ship on Monday the 28th.  They've sold out now BTW, so we was lucky to bag them.

[Red Star Mining]

We're working on another deal that we're trying to get to ship today.  This time ~10.2(TH/s) which hashes at =<11.2kW for a total price all in for everything < $10.6k.  So a little bit cheaper on the (GH/s)/$ than the most recent purchase.  We are working with these - http://www.edentech.org.cn - https://bitcointalk.org/index.php?topic=680423.0  If we complete this move then this will take us up to 27.7(TH/s)@29.3kW of which we currently need to pay a flat rate hosting cost of $0.14USD per kWh.  So this would mean that we're now getting 22.6(TH/s) for roughly the price of 9(TH/s) of Neptune refunds that we would have received those units about three weeks ago at the earliest.  While the last network difficulty change was 3.08% and the next one due later today is expected to be =<8%.  So if you adjust the 9(TH/s) loss by those two difficutly changes than that'd be roughly the same as 10.01(TH/s) needed to compensate.  While the Neptune's are 25% more power efficient than our rigs we are getting over 125% more relative hashrate.  Adjusted for the difficulty changes since we'd have theoretically possibly received the Neptune's.  While this move would leave BTC87.56 in the wallet for future moves.  Although we still have a $25.7k commitment to AlphaT for their currently quoted 1(GH/s) of Scrypt ASIC's.  We feel that if they don't upgrade that hashrate or unless the BTC price starts to rise dramatically.  Then we may possibly renegade on that current deal in doing so losing our BTC12.00 30% deposit in the process.  We'd currently have to pay them another BTC42.71 if we feel we can at least easily ROI on that then we'll go through with it.  On a brighter note AlphaT should have an official update on shipping today.  So if they can offer us a big enough carrot then we'd go through with the final payment.

[JimiQ84]

We're working on another deal that we're trying to get to ship today.  This time ~10.2(TH/s) which hashes at =<11.2kW for a total price all in for everything < $10.6k.  So a little bit cheaper on the (GH/s)/$ than the most recent purchase.  We are working with these - http://www.edentech.org.cn - https://bitcointalk.org/index.php?topic=680423.0  If we complete this move then this will take us up to 27.7(TH/s)@29.3kW of which we currently need to pay a flat rate hosting cost of $0.14USD per kWh.  So this would mean that we're now getting 22.6(TH/s) for roughly the price of 9(TH/s) of Neptune refunds that we would have received those units about three weeks ago at the earliest.  While the last network difficulty change was 3.08% and the next one due later today is expected to be =<8%.  So if you adjust the 9(TH/s) loss by those two difficutly changes than that'd be roughly the same as 10.01(TH/s) needed to compensate.  While the Neptune's are 25% more power efficient than our rigs we are getting over 125% more relative hashrate.  Adjusted for the difficulty changes since we'd have theoretically possibly received the Neptune's.  While this move would leave BTC87.56 in the wallet for future moves.  Although we still have a $25.7k commitment to AlphaT for their currently quoted 1(GH/s) of Scrypt ASIC's.  We feel that if they don't upgrade that hashrate or unless the BTC price starts to rise dramatically.  Then we may possibly renegade on that current deal in doing so losing our BTC12.00 30% deposit in the process.  We'd currently have to pay them another BTC42.71 if we feel we can at least easily ROI on that then we'll go through with it.  On a brighter note AlphaT should have an official update on shipping today.  So if they can offer us a big enough carrot then we'd go through with the final payment.

Excellent work!

[andong]

Dividend is less,less.

[Red Star Mining]

Yes and it will continue to do so until our first lot of new gear has paid for itself plus hosting.  Then 10% of it's profits will be added to the dividend fund.  The current dividend fund contains BTC5.28092575 this will be divided by twelve and one twelfth paid out at each monthly dividend.  Our latest lot of gear currently hashing has hashed BTC7.89 since we got it in June and we paid BTC15.99 for it.  So after it has hashed over BTC15.99 plus hosting costs at 5.25kW at $0.14USD per kWh It'll start adding 10% of its profits to the dividend fund.  Which we're currently expecting to happen by December  We are not a mining bond but a strong reinvestment stock.  With 80% of all profits being reinvested into new mining hardware and the likes.  Our current reinvestment fund to purchase new gear stands around BTC75 after our second purchase which was made today.  While we've just paid for 12.4(TH/s)@13kW@BTC21.46 that we'll have a tracking code for on Monday.  Which we expect to ROI and start adding to the dividend fund between December and January.  We have also paid a 30% £6,540 deposit with AlphaT last January at ~BTC12 for some Scrypt ASIC's.  While we are currently waiting on their next incentive to get us to complete the purchase with a payment of £15,399.96.

We've just ordered thirty Antminer S3's to ship on or very soon after August the 7th at at total order of 13.23(TH/s)@10.5kW@BTC21.03 including fifteen 700W Plus 80 Gold rated PSU's.  This compares to our previous order of 12.4(TH/s)@13kW@BTC21.46 which is due to ship this Monday the 28th.  We expect this latest order to ROI before December.  So it currently likely that at least the next four monthly dividends are only going to reduce by a factor of 8.33% each month.  Until all the current hashing and ordered hashrate has paid for itself plus its hosting costs.  Then it'll start adding 10% of it's profits to the dividend fund.

Once all the new gear is delivered we'll be paying about $3,000USD a month to host 30.68(TH/s)@28.75kW plus our 200W server for us.

[Red Star Mining]

If we hadn't have refunded the KNC Neptune's we'd have received 15(TH/s) a couple of weeks ago.  So far instead we've used around 40% of that refund to purchase 25.63(TH/s).  With roughly half of that due next week and the reminder the week after.  While the last two network difficulty changes have been relatively the two smallest in the last eighteen months.  Plus the next difficulty change so far looks very similar.

[Red Star Mining]

We have received the tracking codes for the 12.4(TH/s)@13kW@BTC21.46 purchase from - http://www.btcgarden.com - https://bitcointalk.org/index.php?topic=622439.0 -  While the 13.23(TH/s)@10.5kW@BTC21.03 purchase of thirty Antminer S3's plus fifteen 700W Plus 80 Gold rated PSU's we expect to ship on or soon after August 7th.

[tekke]

Great News!!