Post
Topic
Board Mining speculation
Re: Asicminer News 15-30% of Network
by
RoadStress
on 30/07/2014, 05:35:12 UTC
Replying here since this is a dedicated thread.

We are talking about Asicminer though it doesn't seem far out of their capacity to have that much money lying around for investment and they have the facilities and everything set up from their Gen 1.
Might take some time to convert the chips on hands to miners though but its direct to farm so that's a plus.

They did have quite the haul from 2013 mining and we do have their financial documents from a few months ago so its a plausible deceleration.
Worse bets could be taken
I'm not sure where you get the 30 million figure from though since Gen 1 was made with much less if I recall correctly.
Anyways worth keeping a watch on this for now.

You should read again their last financial statement. They don't have that much money lying around and neither the facilities. Also it doesn't make any sense to do it right now when they could've started 3 months ago. They could mine with at least 20% of their chips and wait for their 80% to get sold. After 2 months of low sales they could bump the mine to 40% of the chips and still have 60% for sale. Doing it right now seems like a desperate attempt to salvage something out of them.