Quote from: Lab_Rat on May 29, 2014, 03:05:15 AM

Hello all,

Distributions are going out with this post.

The payment you are about to receive is for the previous week as well as the days between May 24th and today (11 days ending May 28th.) This payment is for a completely up to date list in terms of ownership and regarding new or old contracts as of today.

I'm going to start this post with a brief update on the build out of the most recently received hardware. The build out did not go as planned by any means which resulted in plenty of lost coins and added expenses. The datacenter owner was unprepared for the heat and power consumption drawn by this equipment on a large scale. Although there were major delays in hardware installment, he is not solely to blame. There was miscommunication, a transformer failure, AC issues, and a cut fiber line that resulted in additional lost time and revenue. In short, the hardware has been moved this previous weekend to a different and 100% reliable hosting location and is already at the max which is 40% over the previous max hashrate up to that point. Unfortunately, this move had the hardware down most of the week, and additionally cost a significant figure in fees and moving costs. This will result in no bonus this previous week or coming Saturday to recover the company's expenses.

The great news is that from here on we are exactly where we should be and bonuses should be increasing and a little more stable. To boot the BTC price rose $100 a pop as well!!!

I will be giving more frequent updates and being more transparent whenever possible going forward as some of the major issues are now out of the way. This will give me much more time to focus on contract holders and the growth of the company again.

This weeks (11 days) distribution details:

BTC:11.81682227
BTC / contract: 0.00006700

This does mean the upcoming payment will be low as it's only a few days worth of coins, but I think we'll all be very happy with the following payout!

-Lab_Rat

Quote from: Lab_Rat on May 29, 2014, 04:37:05 AM

May be of interest... https://drive.google.com/folderview?id=0BwZCh0jtSZkwUjMzQmxDMGZuS2s&usp=sharing

Quote from: Lab_Rat on May 29, 2014, 04:42:08 AM

I believe we are in compliance, but the laws based around virtual currencies are developing around us so I have my eyes constantly peeled.

Quote from: Lab_Rat on May 29, 2014, 04:44:00 AM

Current hashrate is north of 100TH a decent amount and I'm hoping to turn it into 200TH+ in the very near future. Key word in that sentence is "hoping" as I'm not the one producing that hardware.

Quote from: Lab_Rat on May 29, 2014, 04:46:19 AM

If you'll notice from the spreadsheet I just posted, LRM has now paid out over 1500 BTC in distributions.

Thank you for the updates. I'm glad to hear everything (personal) is ok and you were busy with business.
Its good to hear you got into a reliable POP and the transition is done. It looks like we are still waiting on BFL to get the rest of our equipment built so I hope the new POP has extra room ; P