May 18th 2012, 02:04 SLG Sri Laxmi Ganapathi Vent.
by Pradeep Planer
SLG: NEW Project, Shareholder VoteHi Shareholders,
In past few days i started moving 100K L$ out from currency trading on lindex. I have almost moved 75K out of that as of today and expect to move remaining in a short while. So after the movement we will have a cash of 100KL$ to work with.
Here is my proposal to start bit coin mining operation
Projected Initial Investment: 100KL$--->(3.5% conversion) ---> 392USD which buys me XFX 6950 2GB graphics card and a PSU to support this new graphics card. I already own a good Motherboard and system to support a mining configuration
These are the estimates as obtained from
BTC earned: 5
Power cost: $15
Net revenue: $10 = 2500L$/month on an investment of 100KL$ ( which gives us approx 2.5% return on investment)
BTC earned: 60
Revenue: $ 300
Power cost: $ 180
Net revenue: $ 120
The above number are based on bitcoin price as of today . The revenue may decrease or increase based on bit coin price fluctuation and other bitcoin market dynamics and network parameters.
Some unique advantages i see over me operating the bitcoin network
1) Already own a complete system suitable for mining other than gfx card and PSU. A good mining rig will cost 900USD if you have to consider future resale value
2) There is much demand for high end graphics cards in India. So in case this doesn't work out we can recover much of the purchase costs, though cannot guarantee what we get when we sell it later
3) Power costs are much less in India compared to US and i have estimated the max we could hit if we run at peak rates. But the power charges may come down time to time depending on max power consumed per month
4) Diversifies SLG portfolio further
Please vote if you wish to run this project with SLG funds. Also let me know if you have any queries