Monthly Archives: January, 2014

SGMC Update [23 Jan 2014]

USD Rate @ USD$948
Current Difficulty 1,789,546,951
Current SGD (In-hand) $2,894.90
Current USD (Exchange) $0.19
Current SGD (Exchange) $0.00
Current BTC (Wallet) 9.22707724
Current BTC (Pool) 0.00
BTC on Exchanges 2.20
Invested BTC on 2
Estimated Assets SGD$ $18,678.93
Updated : 23 Jan 14 @ 4.26pm

As many of you should know by now, the Jupiter unit was sold away recently to a fellow miner in Singapore for 9 BTC.  Let’s wish the new owner a profitable future with our hardworking unit.

As such, we are no longer in the mining business save for the 40GH left at  Our current holdings are shown above and there isn’t any new mining hardware out there now or in the near future that will at least ROI and thus, I think it is better off holding whatever we have now and/or trading.

Some of the guys have taken to other Alt-coins such as DOGE, MOON & LOT which have been fairly well received on the Alt-exchanges.  Some of us have even made a tidy profit by buying in with BTC and getting out when the prices of the Alt-coin went up.  It is something worth looking into but with a higher risk but higher rewards if the bet is well-made.

A few folks in the venture are also itching to “cash out” now and based on the table above.  Per-share cash out now will include the following :

SGD$93.38 & 0.43313152 BTC PER share

Interested parties who want to cash out now for CNY as well as hold some BTC for trading fun, please let me know.


SGMC Update [2 Jan 2014]

USD Rate @ USD$820
Current Difficulty 1,418,481,395
Current SGD (In-hand) $993.87
Current USD (Exchange) $0.19
Current SGD (Exchange) $371.22
Current BTC (Wallet) 1.24386431
Current BTC (Pool) 0.09373763
Current NMC (Total) 1.44201607
Current IXC (Total) 1.10324233
Current DVC (Total) 38.96181725
BTC on Exchanges 0.6
Invested BTC on 2
Estimated Assets SGD$ $5,379.72
Updated : 2 Jan 14 @ 2.01pm

Happy New Year to everyone!  May 2014 and the vitality of the horse bring everyone great fortune, wealth and health this year!

Many things have happened these few weeks and finally a new update just a day after Bitcoin mining difficulty has re-targetted to 1.4 billion.

We are now consolidating 50% of BTC mined to be re-invested into cloud mining service.  As to the remaining 50% of mined BTC, it will follow the same lifecycle as per the past few months where it will be liquidated on the local exchange and proceeds will be used to fund operating costs as well as to build up for dividend payments to the groups’ members.

Please note that the value shown in the table below already excludes the SGD$18.6k payouts back to all members.  We are still progressing through the 2nd dividend payout as of this writing and everyone should receive their monies soon.

Kindly keep expectations in check as it might take a little while more for the 3rd dividend payout.  Realistically, out of the SGD$5.3k in assets we have now, only SGD$3k is easily liquid.

On a last note, power prices have fallen in Singapore and there is a little bit of savings regarding power costs.  Negligible in my opinion.  Moving the miner back to the original cost-free location is still a good option, unfortunately, tests have shown that Internet connectivity at the old site remains unstable.  I have had to run back to the old site a couple of times the past few weeks in order to reset the router.

Anyway, everything is still looking good.  Though there will be new processing power coming online soon and it will definitely spike difficulty, we are still making good money.  There still isn’t something out there that looks like a winner yet but everyone’s on a lookout should something appear over the horizon.