Has there ever been a confirmation on what will happen with the excess BTC that was not convertd to $
The exchange rate doubled since, will go a long way towards designing a next-gen chip, or will it b distributed as a special dividnd?
Operational cash is the most likely scenario. Could be used for R&D or for covering utility bills.
Technically, these shares belong to ASICMINER itself - it thus acts like a shareholder who invests all dividends back into the business.
So if I understand correctly, from what you say, bitfountain now effectively owns 250k shares?
No. That wouldn't make sense. The unsold shares of ASICMINER act as potential equity in future financing rounds. The availability of unsold shares has the advantage that dilution can be avoided if the 12% cover financing needs.
oh, OK...