Re: ASICMINER: Entering the Future of ASIC Mining by Inventing It
(104622-20109)*3/53 = 4876 BTC per week
which is 0.012 BTC per week per share, which is what we saw more or less.
This is an effective share of 15% of the network over the last quarter.
which is 0.012 BTC per week per share, which is what we saw more or less.
This is an effective share of 15% of the network over the last quarter.
How do you come up with 15 % or 4,876 BTC per week? This would take 17.33 weeks to cover the net income of 84,513 BTC. A quarter covers 1/4 of a year, not 1/3.
The last financial statement was published on 23 July 2013. The time span between Oct 27 and Jul 23 is 96 days or 13.71 weeks. I covered 13 - 15 weeks to include some buffer and came up with 19.16 - 25.80 % of all mined coins and 23.72 - 31.94 % without expenses.
But, I'm having trouble reconciling it with the cashflow statement.
The expenses were listed with 210,119.50 USD and 12,680,873.16 RMB. With an exchange rate of 6.087 RMB/USD this is combined 2,293,390.92 USD. BTC nominated expenses are stated with 20,109.31 BTC.
2,293,390.92 USD/20,109.31 BTC = 114.05 USD/BTC
This exchange rate seems plausible, so I guess the expenses listed in the income statement are the same as in the cash flow statement/expense breakdown.
Edit:
Three problems with claiming there's any glory in these statements.
1. The income is not all mining it's part hardware (a big part), and the price and demand for these has tumbled.
2. The average hash share over the period was maybe good, but it's 3 months and it basically declined through the period, it started in the 10-20% range of the network and ended at 1-2%. The most relevent one is the current levels. From 29/7-29/10 ( 3 months) AM hashrate rse slightly from 38 to 62 TH, but the network grew from 223TH to 2798TH.
1. The income is not all mining it's part hardware (a big part), and the price and demand for these has tumbled.
2. The average hash share over the period was maybe good, but it's 3 months and it basically declined through the period, it started in the 10-20% range of the network and ended at 1-2%. The most relevent one is the current levels. From 29/7-29/10 ( 3 months) AM hashrate rse slightly from 38 to 62 TH, but the network grew from 223TH to 2798TH.
Yup, that's true. To increase the income something must be done of course. From 02 October 2013:
8. Financial Report
The next official ASICMINER Financial Report is scheduled to be released on October 20s. We had been in the process of accumulating reserves for a two-year-based small lab (all salaries) and a full mask cost for 40nm for one month. Additional income may be reserved for other chip advancements.
The next official ASICMINER Financial Report is scheduled to be released on October 20s. We had been in the process of accumulating reserves for a two-year-based small lab (all salaries) and a full mask cost for 40nm for one month. Additional income may be reserved for other chip advancements.
This sounds as if the process of accumulating reserves was already finished when this post was published. Without further information there is no way to determine, if gen 2 hardware is already in production or not though.