Gigamining / Teramining

[jamesg]

Teramining ran at 100.60% of PPS last week.

For the difficulty period 8,853,416,309, we ran at 101.54%.

All of our Antminer S2 equipment is Kansas has been retrofitted with hashing boards that do not lose speed over time. This is great news as we'll be doing the same to the 200Th operation so that it runs at 200Th. This is also good for purchasing and receiving more equipment in the near future.

[jamesg]

The teramining contract officially starts tomorrow August 26th, 2013 and will run through May 26th, 2014. This term is guaranteed even if the equipment costs more to run than it is making for Teraminers.

Yesterday we reached the 9 month mark for Teramining which means that the contractual obligations have been met. However, Teramining will continue due to the unprecedented increase in global hash rate and recent investments into more mining gear.

[jamesg]

Teramining ran at 100.84% of PPS last week.

For the month of May 2014 we ran at 96.25%.

Work has started to stabilize the 200Th mine with fixes provided from Bitmain. We should see a net 20Th increase once we are completed.

[jamesg]

Teramining ran at 105.69% of PPS last week.

For the difficulty period 10,455,720,138 we ran at 104.87%.

We have completed the work to stablize all Bitmain S2 units and have been at our expected hash rate since Thursday.

Looking ahead, I'm going to try and triple our total hash rate by the end of July. We'll see how things progress.

[BurtW]

Looking ahead, I'm going to try and triple our total hash rate by the end of July. We'll see how things progress.

Yowza!

[jamesg]

Teramining ran at 93.70% of PPS last week.

Looking ahead, I'm going to try and triple our total hash rate by the end of July. We'll see how things progress.

Seems demand for Bitmain's discontinued Antminer S1 is large enough that I've decided to liquidate our S1 miners to make room for more power efficient equipment to come in the near future.

This means that our total hash rate will be dropping over the coming weeks, up to 102Th, but it also means that we will have DC space 100% ready to accept new equipment.

[tuanvie]

This seems good, I will study it first before trying to join

[BurtW]

This seems good, I will study it first before trying to join

Sorry, it is closed and you cannot join.

[Otoh]

This seems good, I will study it first before trying to join

Sorry, it is closed and you cannot join.

[Cuslado]

There are multiple threads about mining "perpetual mining bonds" aka "turds", so I am not going in to details here. Wink   

[jamesg]

.

[jamesg]

6/30 - 113.63% of PPS
7/7 - 94.35% of PPS

diff period 13,462,580,115 - 104.36% of PPS

month of June - 103.48% of PPS

Due to the need to serve paid Teramining upgrades, all free upgrades to Teramining will be ended after Monday, June 28th, 2014.

I've gone above and beyond all contract terms including extending the term and increasing the hash rate of Teramining by more than 38 times.

I am open to discussion about this, but any inflammatory posts will cause the thread to be locked as the thread is not self moderated.

Please be civil and I will answer questions to the best of my ability.

[apepoof]

Any chance to get invited? or buy someones position?

[jamesg]

Any chance to get invited? or buy someones position?

No.

[theGECK]

6/30 - 113.63% of PPS
7/7 - 94.35% of PPS

diff period 13,462,580,115 - 104.36% of PPS

month of June - 103.48% of PPS

Due to the need to serve paid Teramining upgrades, all free upgrades to Teramining will be ended after Monday, June 28th, 2014.

I've gone above and beyond all contract terms including extending the term and increasing the hash rate of Teramining by more than 38 times.

I am open to discussion about this, but any inflammatory posts will cause the thread to be locked as the thread is not self moderated.

Please be civil and I will answer questions to the best of my ability.

You've been great throughout the entire thing, the problems with...I don't even remember the securities platform's name now! Thank you very much.

[jamesg]

An email has gone out to all free upgrades to Teramining detailing the end of the contract and pointing them to this thread.

[2GOOD]

I have made a promise to those who have stuck by me that Teramining would be profitable in BTC, and it will continue until I have fulfilled that promise. How long is that, I don't know.

Due to the need to serve paid Teramining upgrades, all free upgrades to Teramining will be ended after Monday, June 28th, 2014.

IMO this decision is correct, the paid upgrade was not that profitable at all...

According to my calculations paid upgrade didn't pay for itself only not to count the free path, ATM it's about 59% ROI in other words if you paid 10 BTC for the paid upgrade, you earned a total of ~5.9 BTC until this day. In comparison if you paid 0 BTC for the free upgrade, you earned around 1.57 BTC for the same amount of gigamining shares upgraded.

The next diff raise will not be so dramatic so lets hope that things will settle down for a while and the paid upgrade at least pay for itself and catch the free upgrade path.

P.S.
===
James what do you mean here:

Teramining will remain 24% of whatever VPS runs.

[jamesg]

Payments will be delayed due to my daughter arriving on my wedding anniversary. Baby and Mommy are fine, my wife's labor was under two hours, what a rockstar.

It will probably take me a day or two to get out cold storage as the rest of the team is traveling. Thanks for understanding.

Best,
James

[mrdavis]

I just noticed the payment hadn't come through yet. I figured you posted a reason, as you have the couple of times it's been delayed in the past. That's a pretty good reason. Congratulations!

[BurtW]

Congrats!!

Hey, they do know what causes children nowdays, in case you have enough of them now, you can use Google to find out...