Saturday, 25 February 2012

About an expansion motion

If we get lucky and customs don't spot our imports then we are nearly half way there to the third BFL which will take out hashing power of 1.664GH/s per 1000 shares up to 2.5GH/s per 1000 shares all with an electricity bill hopefully under £30 a month for three units.  2.5GH/s would generate us over 55BTC a month profit at today's difficulty divided by 1000 share but minus £30 electricity first.  Even if customs do sting us for £200 it would only take us about four month mining on the two BFL's to save the profits up for a third BFL taking our hashing power up to 2.5GH/s from 1.664GH/s.  If any of the current shareholders would like to comment on whether we should save four months of profits to buy a third BFL thus taking us to 2.5GH/s or they would just prefer to paid a dividend off the two were purchasing then please say so.  I will arrange a vote on the motion in six to eight weeks time.  Once we have three BFL's 2.5GH/s for £30 of electric it would only take us less than three months to save for a fourth BFL taking our hashing power to over 3.3GH/s for less than £40 of electric.  If we put all our resources into expansion we could very easily be generating over 4GH/s by the end of the year.  At 4GH/s we could be reaching a production of around 90BTC a month at today's difficulty for under £50 of electric.  So what are the current shareholders looking for?  A quick profit or rapid expansion?  If we go for expansion and reach 4GH/s that means we could pay a weekly dividend of around 0.017BTC per share by Christmas