ASICMINER: Entering the Future of ASIC Mining by Inventing It

[bitfair]

Anyone knows what the Exchange position in cashflow sheet is?

Looks like they sold BTC in order to pay the fab or cover other expenses: BTC is on the expense "exchange" side, USD is on the income "exchange" side...

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[silverfuture]

Sounds like cash conversion to BTC is very difficult at best in that environment.  Asicminer needs to provide incentive for customers to pay in BTC.

[BitHub]

this looks like terrible news

[cs54]

AM could also buy (or build) miners with fiat, and effectively convert fiat to BTC through mining.

[bitfair]

this looks like terrible news

Yes, indeed. It looks like AM is working on a longer term business model than most were imagining, using revenues to fund further growth rather than pay dividends...

[neilol-real]

this looks like terrible news

Here comes the buying opportunity - That is a very strong balance sheet, but none of it in cash. That inventory will be converted to cash with little cost. Short sighted investors won't see it this way.

[BitHub]

share price is tanking hard

[CanaryInTheMine]

this looks like terrible news

Absolutely!! Can I buy your shares then?
Anyone wanting to dump their direct shares please PM me!

[JoTheKhan]

Just waiting for the bottom now.

[Anotheranonlol]

I was told there would be a moon 
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 

[sngwinner]

So was the last cash flow statement ending on Feb 28 or did he just start his reporting from then? I can't seem to remember seeing one can anyone else? If not what happened in the mean time?

[BitHub]

RIP ASICMINER this company is dead and over

[romerun]

Sounds like cash conversion to BTC is very difficult at best in that environment.  Asicminer needs to provide incentive for customers to pay in BTC.

on the bright side, chinese cannot buy bitcoin from the exchanges, they have no other choices but to buy miners, which is good for mining business

[stompysteve]

welp at least i didnt have to much btc in, thought that was going to play out differently..

[JoTheKhan]

Hoping we hit .1 or lower. That would be awesome.

[bitsalame]

Anyone who wants to sell their direct shares can contact me as well.

[arnuschky]

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.

[Anotheranonlol]

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  
-Bitfury has efficient 55nm gen 2 already, rumor on grapevine is they are working on a gen3 which will destroy any   competition.

[dmcdad]

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!

[penta]

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?