Monday, 16 July 2012

Weekly Update


It looks like we should have enough coin saved from the FPGA mining to pay the import tax of the 40GH/s ASIC and purchase RSM its own cheap PC (with warranty) within nine to ten weeks at current mining difficulty and exchange rates.  That's at least three weeks before the 40GH/s ASIC will ship.  We have currently sold ~1800 shares so excluding the FPGA we will be at 22.2MH/s a share.  So all profits will be saved from the ASIC to quickly purchase another as I expect the first three months of ASIC to be the most profitable and we paid for ours within two weeks of pre-orders starting.  That would take us to 80GH/s over ~1800 shares or 44.4MH/s a share.  Once we reach that figure a decision will have to be made on what on what amount of profits should be saved towards more ASIC's.  The more profit that is saved the faster the dividend will grow and secure RSM future.  As according to Moore's Law the ASIC speeds should double every eighteen months.
The other plan was to issue 1700 new shares selling 2150 in total from RSM holdings to purchase four more 40GH/s ASIC which would take us 50MH/s a share.  Tho the investment doesn't look like its coming.  If we'd have stuck with the original plan of buying GPU's and paying all profits out in dividends then RSM probably would have had to shut down in October.  With us managing to get a refund on one of our long awaited FPGA's we were able to make the inital purchase of our first ASIC.  Now with us saving everything we've got until we are operating at >40MH/s a share post ASIC RSM has a secure future.  If the btc/$ value keeps rising then we will have to increase the 40MH/s a share offer.
So while we are not currently paying a dividend all profits are going toward more hardware.  The current wallet is about ~26btc and I will update the spreadsheet tomorrow.