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Author Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It  (Read 3914430 times)
arnuschky
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May 30, 2014, 04:26:09 PM
 #19921

Per-share equity is low. If we subtract current losses, it's about 0.03BTC/share.
And that is if they manage to sell everything at current prices, and does not include potential cash conversion problems.
Not sure were the great value should come from.

It seems that Gen3 was able to keep AM afloat, but only just so.
Would be nice to know how far we are towards Gen4.
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According to NIST and ECRYPT II, the cryptographic algorithms used in Bitcoin are expected to be strong until at least 2030. (After that, it will not be too difficult to transition to different algorithms.)
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May 30, 2014, 04:27:47 PM
 #19922

Can someone please confirm, current yield on this illiquid asset denominated in a volatile underlying token is less than a high street bank?

Or (again based on current yields reported) it will take me roughly 95 years to get same return in AM as I get in 1 year of PETA?

I'm brand new investor and need a little guidance on where to invest some funds right now.

It seems based on recent news:

-28nm Antminer S3 out next month, no pre-order nonsense
-A1 flooded the markets, mostly no pre-orders
-Knc always lurking
-Spoondoolies tech is ramping up to be a big player, again no pre-order nonsense
-Avalon also taping out 28nm chip whilst looking at future right down to 16nm  Roll Eyes
-Bitfury has efficient 55nm gen 2 already, rumor on grapevine is they are working on a gen3 which will destroy any   competition.

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May 30, 2014, 04:28:01 PM
 #19923

Thanks for the information FC. Can you clarify:

1) On the Balance Sheet, approximately how many chips does the current Inventory (Products + Materials) represent?

2) How many months of inventory do you estimate that represents?

3) On the Cash Flow there was significant expenses for gen3 production (~6mil USD). Does that represent the bulk of gen3 expenses, or are the expenses for gen3 going to continue (additional wafer batches ordered, etc.)?

Thanks for the additional information!
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May 30, 2014, 04:29:12 PM
 #19924

so about 0.038btc worth for each share?
that wouldnt have been such a bad for 8weeks div. with all these companies now using am chips there should be a more steady income right?
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May 30, 2014, 04:31:29 PM
 #19925

Havelock is impossible for price discovery... Enormous spread.

1. We seem to get a pretty good BTC/USD price. ~566 USD/BTC, if I calculated correctly. Would be interesting to see when exactly we got such a high price.

2. Reserves seem to be very limited right now. Only ~8 Million USD left. What this suggests for share price just brings me close to tears.

3. AM spend a shit ton of money on something called "power ICs". I assume this is to power some boards, suggesting that AM is still building their own boards. So are we competing with our resellers?

4. Can someone estimate how many chips were produced? If we spent 5.7M USD on wafers, at about $1500 per wafer, that is ~3800 wafers. Can someone estimate how many chips that is? Is this still in line with
"1) This month: 850k, next month: 3.35m (order size), June: 6.7m (order size), assuming each chip is 10G."

5. Are there still outstanding balances with the resellers? (and how many of the above chips have been ordered?)

6. We produced wafers for about $5.7M, sold some for $3.7M, rest value is $7.4M. Is the margin really this bad?

Have more, but need to go...
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May 30, 2014, 04:36:55 PM
 #19926

This is to inform that friedcat met with the board today and provided some updates.

General Update
==============

The dividend schedule will be aggressive, as AM will not require large sums of retained capital. The rationale is that AM doesn't need to invest large sums into infrastructure and that the majority of chip production costs will be covered by the business partners on a contract schedule. The new round of dividends are scheduled to begin as soon as the first large purchases have concluded and should precede or coincide with the publication of the updated financial statements.

Specific Updates
================

Submitted Questions:
1) What is the status, size, and expected delivery of the next batch of chips? What about the one after that?
re 1) This month: 850k, next month: 3.35m (order size), June: 6.7m (order size), assuming each chip is 10G.

4) When are the new chips expected to start mining in ASICMiner datacenters and what hashrate are you currently planning on deploying?
re 4) May-June for air cooling and June-July for immersion cooling. They are only capable of 3PH. Most should go franchising or as chips for other vendors' OEM products.

5) When are the sales revenues of the chips expected to be paid out to shareholders?
re 5) When the balance payments are received and exchanged for Bitcoins.

General Disclaimer
==================

Please note that some information is subject to change, as this is a very agile business. Please be careful when speculating on company valuation. This information is purely provided as a service to current shareholders and may not be free of errors.


Wondering if this Aggressive dividend schedule still applies? How many chips have been currently sold?

Edit: Man people are selling down to nothing. My number of shares might increase by another digit soon.
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May 30, 2014, 04:38:38 PM
 #19927

Per-share equity is low. If we subtract current losses, it's about 0.03BTC/share.
And that is if they manage to sell everything at current prices, and does not include potential cash conversion problems.
Because of cost principle, inventory should be reported on balance sheet at its cost to produce/acquire, not its market or selling cost. So presuming AM can sell their inventory at a profit (IMO very likely), the net will be a multiple higher than the current inventory asset. How much higher is the question.
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May 30, 2014, 04:39:08 PM
 #19928

Will take a closer look into it, but it seems I made a bad decision not selling at least a part of my shares at 0.8 BTC a few months ago...

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Cetere mi opinias ke Dasho estas detruenda.     |     1Credit - Fair emission, better than BTC > CLCqECaYpCahgKRsXJiVBzgsiz57ZHfr4u
arnuschky
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May 30, 2014, 04:40:52 PM
 #19929

Per-share equity is low. If we subtract current losses, it's about 0.03BTC/share.
And that is if they manage to sell everything at current prices, and does not include potential cash conversion problems.
Because of cost principle, inventory should be reported on balance sheet at its cost to produce/acquire, not its market or selling cost. So presuming AM can sell their inventory at a profit (IMO very likely), the net will be a multiple higher than the current inventory asset. How much higher is the question.

Ok, thanks for the clarification. Was wondering about that.
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May 30, 2014, 04:48:27 PM
 #19930

seriously this is very very bad financials. 
we dont even know when will be next divs. 
Cry
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May 30, 2014, 04:50:41 PM
 #19931

seriously this is very very bad financials.  
we dont even know when will be next divs.  
Cry
Same can be said for Berkshire Hathaway.

Non-technical coin. Use OZC to intro coins to everyday aussies: http://ozziecoin.com
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May 30, 2014, 04:53:25 PM
 #19932







I was told there would be a moon  Angry
I beleived I'd be rich with these earth shattering gen3 divs then cash out ASAP
I sold my BMW for this.now I will end up in a soup kitchen, someone please hold me  Grin

These picture pretty much sum up how I feel right now...
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May 30, 2014, 04:57:59 PM
 #19933

I heard the sky was falling but it doesn't look TOO bad.. 
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May 30, 2014, 05:03:02 PM
 #19934

Hey guys, there is 7.5M USD merchandise in the warehouse that needs to be sold within, I would say, the next 4 to 6 weeks.
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May 30, 2014, 05:03:58 PM
 #19935

POS company, FU friedcat.

Friedcat new business is not called Bitfountain it is "比特泉科技有限公司" in chinese.
Of course there are no positions for public shareholders open there.
could be their balance sheets are looking more attractive, and blockchain address
draw your own conclusions..

Bitquan Technologies Limited?

atx.btc
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May 30, 2014, 05:06:07 PM
 #19936

POS company, FU friedcat.

Friedcat new business is not called Bitfountain it is "比特泉科技有限公司" in chinese.
Of course there are no positions for public shareholders open there.
could be their balance sheets are looking more attractive, and blockchain address
draw your own conclusions..

Bitquan Technologies Limited?



Does anyone know what they do?
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May 30, 2014, 05:07:23 PM
 #19937

Cashflow statement up to May 27:
 - Any electricity for May 25 (Line 18)
 - Was released before payment of May 28 salaries (Line 22)

This makes it hard to estimate whether we are ramping up or withering away in both mining and production.

The balance sheets show a large amount of Materials waiting to be turned into chips. (Line 7)  This looks to be the only bit of hope in this picture.  Even then it looks bleak.  If each chip makes 100% over cost, that bumps assets to 40 USD per share.


Well......

Edit: 7M USD is 17 dollars per share.  Not quite the positive picture.
bitfair
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May 30, 2014, 05:11:00 PM
 #19938

About 30 PH bought and paid for so far, according to my estimates.

Many may disagree, but I find it reassuring that AM is feeding the revenue back into the company - it is a healthy sign.
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May 30, 2014, 05:12:18 PM
 #19939

Seems the reason FC was not posting an update is that he has a good amount of work to do.  Keep up the good work FC, but drop by a little more often... once a month just to say hi?

cs54
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May 30, 2014, 05:14:10 PM
 #19940

POS company, FU friedcat.

Friedcat new business is not called Bitfountain it is "比特泉科技有限公司" in chinese.
Of course there are no positions for public shareholders open there.
could be their balance sheets are looking more attractive, and blockchain address
draw your own conclusions..

Bitquan Technologies Limited?



Does anyone know what they do?

Appears to have been formed August 15, 2013. Not sure if the Mem & Arts are publicly available but this site seems to suggest that's possible.

Edit: removed. I don't want to toe the line of doxing, not that that was anyone's intent.
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