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  1. 1,224 Posts.
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    Its at about break even on current prices.

    Earns about $2.5M per quarter from mining activites (if it sold them all which it doesn't) at current prices.

    Costs about $600,000 for power and hosting, Staff, admin, professional and other at about $1M per quarter. Now presume has to spend $4M per annum in upgrading mining machinery = $1M per quarter, which roughly equals break even point.

    This is simplification as in reality:

    - They don't sell all bitcoin, they also lend out and provide liquidity and make further profits
    - During last quarter they entered into lower cost power contracts
    - They have also (and will as result of Mintsy) sell"turnkey" mining contracts to supplement cashflow

    So major expenses are fixed expenses of overhead and staff. If can execute future strategies will start making profit. Has cash in bank also to assist. Bitcoin price is always a wild card. So yeah there is some risk but cant say new start up isnt doing quite well 6 months in.
 
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