Monthly loans for farm expansion

[Gomeler]

Please see the second post of this thread for the full story. The first post now contains records of current and past loans and current and inbound hardware.

I currently have the following hardware running:
14x HD 5830 generating 4300 MH/s
5x HD 5870 generating 1800 MH/s
4x HD 5850 generating 1300 MH/s
4x HD 5970 generating 2800 MH/s
1x HD 6870x2 generating 600 MH/s
Total: ~10800 MH/s.

I have the following inbound as of April 28th:
Gigabyte 990FXA-UD5
AMD reference socket AM3 CPU heatsink

Parts in stock:
4x HD 5970
2x HD 5850
Maximus IV Gene-Z + 2600K
~3500 MH/s.


Loans requested:
March:

• 50 BTC to fund two HD 5830s from a lot I am purchasing.
• Receive 50 BTC on 20th of March.
• Pay 55 BTC on the 19th of April or earlier. Repaid as one lump sum.
• Fulfilled.
• Paid.

April:

• 162 BTC to fund a 2x HD 5970 rig.
• Received 162 BTC on 9th of April.
• Pay 183 BTC on the 23rd of May or earlier. Repaid over two payments.
• Fulfilled.

May:

• ~200 BTC to fund 2x BFL Singles.
• Will line up funding early May. Plan to order the singles by mid May if BFL delivers their rev 3 Singles by then.
• If BFL fails to deliver rev 3 Singles I will invest in another 1.5 GH/s of GPUs.

• Funding from outside the BTC community was sourced. Future BTC loans are currently not needed.

Loans acquired:
162 BTC from anonymous. Acquired April 9th. 183 BTC to be paid by May 23rd.

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

[Gomeler]

This was the original post. Archiving to the second post.

With the cards inbound and the existing cards this should put me somewhere in the 7-8 GH/s range. That, at current difficulties is just a tad over 5 BTC/day.

Since I have zero reputation within the BTC community, I'd like to start small and gradually work my way to the point where I am funding large scale expansions of this farm. Eventually I'll be shifting over to FPGA builds as I close in on the power cap of the building and my own ability to pay the power bill between cycles of selling BTC.

Ideally I'd be looking at loans starting near the middle of the current month and ending near the middle of the following month. This would give me time to assemble the inbound hardware and have it mine towards the loan principle and interest. Loan sizes would be slightly underneath the total BTC capable of being mined within a 1 month period so that the existing hardware will fund the principle and the inbound hardware would fund the interest. Excess coins would be saved for the next expansion or sold to cover rent/power.

I believe that covers it. I've been warned there'll be a fair share of trolling due to my noob status within the community so.. bring on the trolls.

Q/A:
How can we trust you?
I'm a supermod over at XtremeSystems -> link to profile
I have a relatively inactive heatware account. Still shows a long history of good sales. -> link to account
If you need more evidence I can provide it. Those two should be a good start.

Why not get a loan from a bank?
Banks don't accept BTC. By funding through the BTC community I can receive small loans very quickly that will fit the expansion schedule that I expect to maintain for this summer. Short of a massive spike in difficulty within one of the loan periods, I will be able to cover the loans and interest from the output of the mining operation.

Why not invest in a mining coop?
I like mining as a hobby. The logistics around running such a setup and wringing out every bit of efficiency out of the hardware is a bit cathartic after spending years overclocking hardware for raw MHz. I'm just trading a shockingly large liquid nitrogen bill for an equally large electricity bill.

Why not start with FPGAs?
MH/$ is currently too low. I plan on sucking up cheap 5830s at ~2.7 MH/$ and reasonable 5970s at ~2.2 MH/$ to quickly expand my income while I wait for 22nm based FPGAs to hit the market in Q4/2012-Q1/2013. Once that happens I'll likely liquidate my GPU farm and roll the proceeds in to a FPGA farm hosted in my residence.

If any other interesting questions pop up I'll append them to this.

[Kluge]

Is your pool able to provide some type of verification that you are mining within a reasonable expected rate for those cards? (graphs showing MH/s over time, which is available for us to view would be great!)

[Gomeler]

I currently mine for BTCGuild although as I scale out I will need to look in to either solo mining or mining for a pool with fewer/no fees. Need to cut out that 5% loss that I currently suffer with BTCGuild. Have you any suggestions?

[John (John K.)]

Seems more legit then other lendees lately.

edit: lendees not lenders, thanks Patrick!

[hashking]

How many coins per month are you pulling in?

[PatrickHarnett]

He pm'd me earlier  (John, it's lendee rather than lender - the lenders know what we're like).

Sensible approach - looking to establish credibility.  Watching for now.

[Kluge]

I currently mine for BTCGuild although as I scale out I will need to look in to either solo mining or mining for a pool with fewer/no fees. Need to cut out that 5% loss that I currently suffer with BTCGuild. Have you any suggestions?

EclipseMC is hop-proof and operates on purely optional fees. Inaba's a pretty decent fellow, too, and quickly solves problems. There's p2pool, but I haven't tested it enough to know how payout compares.

Giving us your BTC Guild API key would allow us to be sure you're mining there at the speed you claim, making the loan seem pretty safe. AFAIK (and asked other lenders), there's no risk to you in sharing that outside of us being able to snoop.

ETA: Damn. BW jumped on this first.

[Gomeler]

Surprised(or not) that this forum doesn't permit attachments. Will upload the output graphs from BTCGuild in a few after I hammer out this fitment issue.

How many coins per month are you pulling in?

I've been mining for the last ~2 months with a 3 5970s and 6 5830s. Had some issues with a pair of 5970s that I bought but over the weekend I reconfigured the rat nest that was my waterloop and have 4 WCd 5970s on one rig. I am now re-working the rat nest that was my 6x 5830 rig to fit another card and make it easy to transport to this my new mining location. If this 7x 5830 rig works it'll likely form the building block for my farm.

That doesn't quite answer your question but I honestly have no clue how many coins I've mined in the last few months due to changing difficulties. I just pulled out 120 BTC from BTCGuild to fund some of the cards I've purchased in the last 36 hours and that took somewhere between 1 and 2 months I believe.

He pm'd me earlier  (John, it's lendee rather than lender - the lenders know what we're like).

Sensible approach - looking to establish credibility.  Watching for now.

Yup, took your advice and posted a public thread to fund this.

[BurtW]

IBM has sent you a PM.

[Gomeler]

I have accepted an offer from IBM for this round of funding. Original post updated with documentation. Will use this thread to contain various posts relating to this farm expansion. I'll pull down/host the graphs from BTCGuild tonight/tomorrow. Kludge and Burt can verify my output and as it changes.

[BurtW]

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

Verified.

[grue]

I currently mine for BTCGuild although as I scale out I will need to look in to either solo mining or mining for a pool with fewer/no fees. Need to cut out that 5% loss that I currently suffer with BTCGuild. Have you any suggestions?

EclipseMC is hop-proof and operates on purely optional fees. Inaba's a pretty decent fellow, too, and quickly solves problems. There's p2pool, but I haven't tested it enough to know how payout compares.

Giving us your BTC Guild API key would allow us to be sure you're mining there at the speed you claim, making the loan seem pretty safe. AFAIK (and asked other lenders), there's no risk to you in sharing that outside of us being able to snoop.

ETA: Damn. BW jumped on this first.

p2pool is hop-proof and fee free as well, although it has higher variance compared to centralized pools. its advantage, of course is that it's decentralized.

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

Verified.

seconded

[Gomeler]

Going to temporarily use Dropbox for image hosting until I find a more permanent solution that I'm happy with.



The Gomeler_HD5970x1 is my WCd 5970 rig that I'm currently adjusting for optimal efficiency. Gomeler_HD5830x1 is temporarily hosting a pair of 5830s as I re-wire/configure the 7 slot board to host all 7 5830s. These two rigs will be the first installation in the new location and will comprise ~5 GH/s.

Ordered a pair of GD-70s and Semprons. I'm going to use these boards to host the incoming 8 cards that I've ordered in the last few days and reserve the C4F and M4A79T for testing cards/configurations at home. Liquidated all remaining BTC and am contemplating picking up another 8 HD 5830s with resulting USD + personal cash. The incoming cards minus possible HD 5830s should add another 3 GH/s and will give me a good chance to monitor thermals at the new location. No sense immediately expanding to 10 GH/s and roasting everything.

Next update over the weekend as I assemble rigs.

[Gomeler]

Minor informative bump. 3/4 of the debt from the first loan has been generated. All my hardware will be moving to the new location one week from Saturday. Looks like I'll be installing around 11 GH/s of GPUs(if this last batch shows up in time) in the new location while running 1.2 GH/s of GPUs at home. Will update in a week. Expect to pay back the first loan around the 12th of April. Now back to watching various tracking numbers like a hawk 

[Gomeler]

Moved some gear to my new location.



Up to around 8.5 GH/s with gear split between two locations.



Loan principal has been accumulated from mining efforts. The interest will be worked off tomorrow and paid in full to IBM on ~Tuesday.

Sitting on another ~3 GH/s of GPUs, just need a pair of PSUs. At my remote location(the image above) I'll be rotating the current shelf 90 degrees when I add another shelf. These will then have a pair of box fans to get some circulation going. When I eventually thermally overwhelm this location I'll begin venting heat out a pair of windows near this corner. Ambient temperatures are around 50 degrees Fahrenheit during the day and around 30 degrees Fahrenheit at night and will be that way for the next two months or so. Suffice to say the cards are quite happy with the fans barely turning over.

[BurtW]

Very nice looking setup.

[copumpkin]

Moved some gear to my new location.



Up to around 8.5 GH/s with gear split between two locations.



Loan principal has been accumulated from mining efforts. The interest will be worked off tomorrow and paid in full to IBM on ~Tuesday.

Sitting on another ~3 GH/s of GPUs, just need a pair of PSUs. At my remote location(the image above) I'll be rotating the current shelf 90 degrees when I add another shelf. These will then have a pair of box fans to get some circulation going. When I eventually thermally overwhelm this location I'll begin venting heat out a pair of windows near this corner. Ambient temperatures are around 50 degrees Fahrenheit during the day and around 30 degrees Fahrenheit at night and will be that way for the next two months or so. Suffice to say the cards are quite happy with the fans barely turning over.

That is a big-ass fan. How hot do summers get in your area?

[imsaguy]

Moved some gear to my new location.



Up to around 8.5 GH/s with gear split between two locations.



Loan principal has been accumulated from mining efforts. The interest will be worked off tomorrow and paid in full to IBM on ~Tuesday.

Sitting on another ~3 GH/s of GPUs, just need a pair of PSUs. At my remote location(the image above) I'll be rotating the current shelf 90 degrees when I add another shelf. These will then have a pair of box fans to get some circulation going. When I eventually thermally overwhelm this location I'll begin venting heat out a pair of windows near this corner. Ambient temperatures are around 50 degrees Fahrenheit during the day and around 30 degrees Fahrenheit at night and will be that way for the next two months or so. Suffice to say the cards are quite happy with the fans barely turning over.

That is a big-ass fan. How hot do summers get in your area?

That's a basic box fan.  They don't blow as much as you'd think for their size. 

[Gomeler]

Very nice looking setup.

Thanks. Hoping to cram 6 rigs on 3 shelves and have a pair of those at that location by the end of April.

Moved some gear to my new location.

Up to around 8.5 GH/s with gear split between two locations.

Loan principal has been accumulated from mining efforts. The interest will be worked off tomorrow and paid in full to IBM on ~Tuesday.

Sitting on another ~3 GH/s of GPUs, just need a pair of PSUs. At my remote location(the image above) I'll be rotating the current shelf 90 degrees when I add another shelf. These will then have a pair of box fans to get some circulation going. When I eventually thermally overwhelm this location I'll begin venting heat out a pair of windows near this corner. Ambient temperatures are around 50 degrees Fahrenheit during the day and around 30 degrees Fahrenheit at night and will be that way for the next two months or so. Suffice to say the cards are quite happy with the fans barely turning over.

That is a big-ass fan. How hot do summers get in your area?

I'll have a high of around 80F outdoors. I've been told the interior stays in the 70s due to it being shaded and partially sunk in to the mountainside.

Moved some gear to my new location.

Up to around 8.5 GH/s with gear split between two locations.

Loan principal has been accumulated from mining efforts. The interest will be worked off tomorrow and paid in full to IBM on ~Tuesday.

Sitting on another ~3 GH/s of GPUs, just need a pair of PSUs. At my remote location(the image above) I'll be rotating the current shelf 90 degrees when I add another shelf. These will then have a pair of box fans to get some circulation going. When I eventually thermally overwhelm this location I'll begin venting heat out a pair of windows near this corner. Ambient temperatures are around 50 degrees Fahrenheit during the day and around 30 degrees Fahrenheit at night and will be that way for the next two months or so. Suffice to say the cards are quite happy with the fans barely turning over.

That is a big-ass fan. How hot do summers get in your area?

That's a basic box fan.  They don't blow as much as you'd think for their size. 

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.