Post
Topic
Board Securities
Re: ASICMINER: Entering the Future of ASIC Mining by Inventing It
by
dexX7
on 29/10/2013, 05:44:36 UTC
I don't understand this, if they could be mining 1000TH instead of sold them as USBs, that is enough to make them dominate the network. Share price would still be 4-5, and they'd be making enough to dominate the next generation.

As it is, shareholders have received zero benefits from those sales and watched their shares drop by 1000 %

I hope everyone purchased more shares now that they are cheap*, because as the following numbers may break some bear spines.. Grin Grin

To put the ASICMINER financial report in some perspective:

According to the income statement last quarter includes:

Income: 104,622.45 BTC (mining: 33,020.91 BTC, hardware sales: 71,601.54 BTC)
Expenses: 20,109.31 BTC
Net income: 84,513.14 BTC

It's not all that clear which time span the report covers, so let's say 13 - 15 weeks to include all possibilities. This results in the following weekly averages:

Income per week: 6,974.83 - 8,047.88 BTC
Expenses per week: 1,340.62 - 1,546.87 BTC
Net income per week: 5,634.21 - 6,501.01 BTC

Mining a block rewards 25 BTC and 6 - 7 blocks are mined hourly, depending on the increase of the hashrate.

So there are 150 - 175 BTC mined each hour, 3,600 - 4,200 BTC each day and 25,200 - 29,400 BTC each week.

Or in total 327,600 - 382,200 BTC are mined in 13 weeks and 378,000 - 441,000 BTC in 15 weeks.

This means:

ASICMINER generated an income which equals 23.72 - 31.94 % of all mined coins in this quarter.

Subtracting the expenses (i.e. electricity and hardware cost) results in a net income of 19.16 - 25.80 % of all mined coins in this time frame.

The balance sheet shows that there are 5,484.66 BTC, 393,202.00 USD and 15,318,262.72 RMB in assets, whereby 5,484.66 BTC and 4,480,310.50 RMB are in form of cash.

With an exchange rate of 6.087 RMB/USD and 198.28 USD/BTC this equals:

ASICMINER owns assets with a BTC value of 20,159.64 BTC (with 9,196,81 BTC in cash)
Or converted to their USD value: 3,997,254.14 USD (with 1,823,544.13 USD in cash)
Or converted to their RMB value: 24,331,285.96 RMB (with 11,099,913.17 RMB in cash)


*I'm not very serious, please draw your own conclusion. This is just a quote which some may recognize.