Friday, 17 August 2012

Update on RSM share offer and FPGA delivery

RSM offer is being lowered to [btc]0.20 in light of bitcoins increase in value.  So 2650 new shares need to be created to take us to 200GH/s post ASIC and 40MH/s a share or 1GH/s for [btc]5.00.  This will takes us to 5050 shares in total over five*40GH/s ASIC.  I'm only going to create the new shares in rounded numbers as needed per unit.  So 500 new shares created meaning we now have 2,800 shares in total.  We have 1969 issued with 939 on offer at [btc]0.20 which is more than enough at current exchange rates for the 40GH/s ASIC plus 20% import tax with the rest saved to ASIC #3.

Update on our ModMiner FPGA delivery tracking info

Date             Time        Location                Tracking Event
16-08-2012  21:42 International Hub Awaiting Customs Charging
07-08-2012 10:27 International Hub Awaiting Customs clearance
07-08-2012 10:24 International Hub Received in destination country
03-08-2012 05:35 Delivery Agent -       CHICAGO Forwarded for export
01-08-2012 15:26 Delivery Agent -       UNITED STATES AMERICA Collected from customer

With the Atom board and ModMiner electricty costs should be under £4.00/£6.28/€5.09 a week.  With the board making around [btc]2.57@800MH/s.  Tho the boards firmware should be upgraded soon to 840MH/s meaning [btc]2.70 a week at current difficulty.  Then ET's new bitstream should come on board taking the ModMiner to over 1GH/s or over [btc]3.21 a week at current difficulty.  Tho all profits are being saved for the ASIC import import tax at the moment which could be up to $300/£180/€230.  Tho we do have over [btc]31.00 saved but this depends on customs charges on the ModMiner.  Once we have enough to cover the import taxers 90% of profits will be saved until we are operating at or over 40GH/s a share.  When a motion will be held to lower it to possibly as low as 50% of profits.  With the other 50% being kept for perpetual growth and expansion of RSM's portfolio of mining hardware.

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