Summary

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Red Star Mining, a mining stock with strong +<90% reinvestment of profits into growth until such a time we are greater than 51% of the network and/or company staff can make a living wage off their RSM wages solely. All major decisions can be decided by motion apart from my (Matthew Holt) removal as Chief Operator and Chairman of RSM decisions plus operations. No motions can also be held on reducing the growth fund unless one of the two conditions are met above or the Chief Operator and Chairman agrees to it being held. A salary of 5% of profits will be used to pay RSM staff. To increase this payout it must be decided by motion with the proposal reach a majority of at least 51%. This amount of 5% cant be reduced by motion unless more than 51% of RSM staff also agree. The Chief Operator and Chairman have the ultimate decision on employment of RSM staff unless a motion is held on the individuals sacking and reaches a 51% majority.

All operating costs will be paid first then 5% of profits taken for RSM staff pay. Then at least 90% of the remaining profits will be reinvested into increasing RSM Hash-rate and/or into other strong growth/profit investments. The reminder will be paid out in dividends. With eventually the full amount for the dividend fund being passed through Pyramining and/or other suitable investments. So eventually the full amount earned by RSM for dividends will be passed through other investments before the full same amount eventually gets paid out into dividends. So as the total dividend payment remains unchanged. With the extra bonus income earned by the dividend investment fund investments to be reinvested in RSM growth.

Any major shareholder can force a motion or any group of small investors with a combined holdings of at least 5% of shares unless the subject of the suggested motion effects one of the subjects of the two prohibited motions. Then if the suggested motion can effect one of the subjects of the two prohibited motions then its up to the chief operator and chairman on whether to run the motion.

If RSM is forced to close (with the ultimate decision on that decided by the chief operator and chairman). Then all assets will be shared equally between all shares.

Total shares distributed 135,000 | 1.75(TH/s)@28nm total hash-rate and each share worth 12.962962963(MH/s) per share. | 15(TH/s)@20nm 0.109(GH/s) per share ordered for delivery by Spring 2014. | 100MH@2.4kW 0.740740741(KH/s) per share LTC Scypt ASICdelivery Q2/Q3

RSM blog - www.redstarmining.com

Twiiter page - https://twitter.com/redstarmining

Google+ page - https://google.com/+redstarmining

Old Accounts Spreadsheet - https://docs.google.com/spreadsheet/ccc?key=0Ap02rO_j4NLvdDB2cFRTS0ctVGRHRE5yQ2RfNUZFcUE#gid=0 - New Accounts Spreadsheet - https://docs.google.com/spreadsheet/ccc?key=0AolvfZ07D-3SdHBuaGcxRUw3SEkwTzUyVXVqUzRPZFE&pli=1#gid=0

RSM's Pyraming - http://pyramining.com/faq#howdoesitwork - wallet donation address - 1RsRSss66dbgpNmgSaF68YvaT35ev54S8 - RSM Pyramining referral links - http://www.pyramining.com/referral/86ndtq4rx - and - http://www.pyramining.com/referral/p4rmzbs8x - all donations and referrals will benefit RSM financially.

Latest News

Three BFL 60(GH/s) SC pre-ordered last summer. I expect delivery of our first in June.

Latest from BFL on 2013/05/22 is they are optimistic that the SC range will start shipping the week of the 26th.

Two 400(GH/s)@28nm KNC Jupiters be added for 80,000 shares by October. One Jupiter is a day one pre-order due in September. While the second Jupiter is due in October.

Spoke to and arranged hosting for our three BFL SC's plus they promised us PSU's if BFL can't provide them. So if true I see no reason we can't start hashing very soon.

2013/09/10 - First 60(GH/s)SC has been hashing nearlly two weeks now. I expect our second to start hashing by Monday - (2013/09/16). KNC said our first 400(GH/s)@28nm should ship late September and the second by October 15th. So I expect us to be hashing at 560(GH/s) by the start of October and the full 980(GH/s) within five weeks by the middle of October.

2013/09/24 - All three of our 60(GH/s) BFL SC Singles are now hashing. We're expecting our first 400(GH/s)@28nm KNC Jupiter to ship within a week by the the 1st of October and our second to ship within three weeks by the 15th of October.

2013/10/18 - Jupiter #1 has been hashing for over two weeks now and we're currently at 700(GH/s). With Jupiter #2 expected to ship today.

2013/10/26 - Both Jupiters are now hashing with #2 starting to hash a few days ago

2013/11/10 - The three SC's were sold for BTC11.70 a few weeks ago and another 550GH/s Jupiter has just been purchased for BTC17.00. We're expecting delivery of Jupiter #3 before December.

2013/11/26 - The third Jupiter which will hash at 650(GH/s) is due to be shipped by the end of November. Three 20nm KNC Neptunes pre-ordered today for just over BTC36 and we are considering pre-ordering a fourth within the two week window.

2013/11/27 Two more KNC Neptune pre-orders.

For latest updates and news please check our blog - www.redstarmining.com

Quote from: chalbersma on January 20, 2014, 03:10:14 PM

Industry Updates

Viper ASIC Update(Litecoin)

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Greetings Miners!

Progress by our engineering partners has been picking up fast and a quick update for the weeks end is as follows:

Engineering Update

* ASIC design has been more optimized and frozen.
* ASIC Synthesis & Physical design is going on. Tape out target end of march.
* Provision for MBIST and boundary scan for DFT has been done.
* Architecture of Mining Board design has been finalized and design has been started.
* Sitara ARM AM335x Processor from TI for Host Board has been finalized and design has been initiated.
* Provision of power consumption & temperature on the LCD display has been incorporated.
* Eliminated switch from the enclosure. All the input and set up will be done through web pages just like a router. ### Mechanical Update
* Enclosure material will be of Aluminium.
* Universal power supply has been identified for 5mh design.
* 5Mh box will be 1u but much smaller in size ( easy for transportation, likely half of 19 rack).
* Power figures as of now are looking good
* 5Mh<=70 watts
* 25Mh<=300 watts

KNC Neptune Update (Bitcoin)

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Neptunes are still very much in the preliminary design phase. As much as the timeline will be reduced significantly in comparison to a standard engineering project at 20nm, if such exists, because this is absolute bleeding edge we want to be absolutely sure what we commit to silicon will ensure a successful product at the end. This initial phase will not be rushed.

That said we have completely re-written and optimised the RTL code. The Jupiter project was very much focused upon safe speed to market and the window of opportunity hashing power presented in this present finite period prior to significant competition. The Neptune project whilst adhering to aspects of the aforementioned must focus upon power consumption as it's primary trait if customers (you guys) will be able to compete successfully over a longer period. We know that we are reaching limits on standard household circuits, we want you to remain competitive w.r.t. the unfolding mining landscape and we are all to well aware that electricity costs will come into focus in the not too distant future.

So where we are now is that we have a working FPGA code and are in the process of testing that and tweaking any further refinements before it's submission.

With respect to the speculation above we sold out of Neptune's last night.

Viper ASIC Timeline Released

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On Monday (13/01/2014) we released an outline of our set roadmap, today as promised we will be releasing a timeline with dates on each aspect of the development process. This shows our commitment to transparency and gives a better idea on what exact stage we are on at all times. As we go through multiple developmental stages in parallel, we will be releasing regular detailed updates on our progress. Our next updates will be consistent developmental updates on what is being worked on and what has been achieved.

Timeline:

Project Start: 16/08/13
Project Finish: 15/07/14

<-- Table Snipped See Posts for table -->

Roadmap (recap):

<-- Image Snipped See Posts for Images -->

Quote from: Bitcoinorama on January 20, 2014, 10:53:16 AM

With respect to Neptune we are where we intended to be at this stage and are still contemplating aspects of the design. Understand that the approach is not the same as that of Jupiter. 28nm was extremely disruptive at the time, of which the effect can plainly be seen. Hashrate was given priority to power consumption, and safety and speed to market even more so, but going forward and acknowledging that power consumption becomes more a critical factor the Neptune has to be created as more a long term solution. We will not skimp or rush the design here. This does not mean I'm indirectly verbalising a delay, so don't go looking for hidden meanings, there aren't any to find, just rest assured I'm stressing we value the integrity of the design more which is why Q1/Q2 was given to ensure that margin is present so we commit the best foot going forward in what is uncharted waters within bleeding edge silicon. We're not rushing the design at the cost of it's ability to function, and function well. The sha-256 implementation is actually relatively simple, but there is still quite a bit we can optimise to remain competitive for you and us.