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Author Topic: Monthly loans for farm expansion  (Read 2336 times)
imsaguy
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April 09, 2012, 03:19:43 PM
 #21

Yup, just using the boxfan to achieve some general airflow over the systems. They're currently setup in a less than optimal corner and I didn't want them to cook.

I wasn't faulting you, I use them as well.  WalMart special for $16.

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April 10, 2012, 01:34:26 AM
 #22

I have updated the first post. The 50 BTC loan from IBM has been repaid. A 162 BTC loan has been secured from a party who wished to remain anonymous. This weekend should see the setup of another ~2 GH/s of hardware to push me just over 10 GH/s. Do I get a prize?

Pending news on whether BFL is actually going to ship rev 3 Singles I may or may not place an order for a pair in May. My goal was to gradually transition to FPGAs by the reward drop and this just might be the time to do it. The ~200 BTC loan mentioned for May will be sourced if 1) BFL can deliver 2) my daily income will generate greater than 200 BTC in 30 days.

Be back in a few days with updates on the 2 GH/s expansion.

Yup, just using the boxfan to achieve some general airflow over the systems. They're currently setup in a less than optimal corner and I didn't want them to cook.

I wasn't faulting you, I use them as well.  WalMart special for $16.

No worries, I was just explaining just in case someone wasn't familiar with box fans and their purpose in life.

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April 10, 2012, 04:12:42 AM
 #23

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Loans repaid:
50 BTC from IBM. Acquired March 19th. 55 BTC to be paid by April 20th.

Repaid early, great customer, would lend again.

Our family was terrorized by Homeland Security.  Read all about it here:  http://www.jmwagner.com/ and http://www.burtw.com/  Any donations to help us recover from the $300,000 in legal fees and forced donations to the Federal Asset Forfeiture slush fund are greatly appreciated!
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April 27, 2012, 04:01:51 AM
 #24

The expansion has been a bit slow. Suffered a mysterious board death when I was disassembling the pair of quad 5970 rigs. It was a R3E that had already suffered horrible corrosion damage from condensation during some GPU overclocking. Oh well, replacement board inbound.

Right now I've moved everything except my 5970s to my remote location. The GPU stack below is generating ~7.6 GH/s, pulling ~3.2kw from 3 20 amp breakers. I'll be adding 1 more rig with a pair of aircooled 5970s to bring it up to ~9 GH/s and ~4kw. Just trying to keep the load on each breaker below 15 amps for safety.



Next week, once the replacement board arrives, I'll move the last 6 watercooled 5970s and bring that location up to ~13 GH/s and ~5.5kw. That'll bring me within 10 amps of tapping out the 120v breakers so I'll have to look in to utilizing the 240v connection for the next GPU expansion.

Currently exploring various options to increase my MH/w efficiency. Considering adding 4 to 5 BFL Singles as a start. Would like a mini rig but $15k is hard to fund.

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April 27, 2012, 04:09:56 AM
 #25

Forgot, I have accumulated about 60% of the principal on my April loan. I'm generating around 6 btc/day at the moment so I project I'll have the April loan paid off about 10 days early. That date will move forward when I add the other 6 5970s.

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April 29, 2012, 03:34:33 AM
 #26

I moved another rig out there today. Looking at just over 10 GH/s sustained with very exciting peaks around 11.5 GH/s seen with the variances in mining. I appreciate the messages with offers for my upcoming May round of funding. I have temporarily struck the listing from the original post as I am in negotiations over the terms for a loan. If my ability to take on more debt for expansion changes I'll bump this thread. Will update again when I move the last of my GPUs and bump throughput to the expected 13 GH/s.

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May 09, 2012, 02:37:28 AM
 #27

Second to last post for this thread. I have nearly generated the sum to repay my current outstanding loan. Suffered a grid power failure over the weekend so I lost about 40 BTC of potential work as I wasn't able to make it out to my farm for a few days.

I have also secured funding through more traditional means at more favorable rates and will no longer require lending services from the community. I had hoped to keep my borrowing within the bitcoin economy but it did not make financial sense. Given my end goal of expansion, I needed lots of capital now versus a steady stream over the next 6-12 months. I appreciate those individuals who came forward to offer me loans, they were most appreciated. Those loans helped prod me along to invest more capital into bitcoin mining. The good news coming out of all of this is that p2pool should see a nice bump in the coming months. Thanks for everything guys.

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