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Wednesday, December 13, 2017 2:32:43 PM
It has been often cited as having 22,000 bitcoins as Sam Lee(CEO) said this is how many they mined himself in this video:
However, the actual number they hold is more difficult to calculate. Consider this: That video was published last spring and they have been mining everyday since then. But also consider the amount mined and amount held is quite different. It took about a year of mining before they became profitable. They more than likely spent quite a few coins on equipment, rent, and most importantly, electricity as they ramped up their mining activity.
In July of 2016 they were mining about 100 coins a day (about 60,thousand Australian dollars at the time)with 1700 comuputers running day and night. At the time they were also spending 10,000 dollars a day on electricity. Equipment needs to be updated often and I'm sure they spent some coins on some of their investments (which have been very successful, example: DCC). See this video for where I got the info:
So, while it is difficult to determine the actual number of bitcoins they hold, suffice it to say they have enough bitcoin to make significant investment in becoming a leading blockchain company which is where I see this going.
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