So that leaves us where...?
Doesn't it leaves us with a contract for a percentage of BTC mined, with terms relating to costs, expenses, reinvestment and whatnot?
Now, what that means for our "contracts" is that we own TWO things... A PARTNER/OWNER CONTRACT (singular) that guarantees us the right to multiple MINING SUBCONTRACTS at the value of 100 MH/s and that as hardware is purchased with our investment funds in LRM, the moment those machines go online, each of our PARTNER/OWNER contracts is awarded an increasing number of subcontracts to match the hashrate to 100 MH/s contract ratio of those machines.
I think this is where it is going. I'd personally like to see market forces control hashrate increase. If LR controls how many shares you get every time hardware arrives, then fees, expenses, and cost of purchase will still all be invisible to investors and make the contracts impossible to value accurately. If contracts are worth 100 MH/s, and LR is forced to sell new hashrate increases at market rates (i.e., reinvestment occurs in public, not behind the scenes), LRM is much more likely to survive long term and not burn through cash with inefficient purchases. I outlined a few pages back two ways it can be underwritten: one way LRM assumes all risk and reward, the other is sharing risk and reward (underwriting of hardware) amongst interested investors.