InvestorsHub Logo

danceswithcharts

12/13/17 2:32 PM

#25469 RE: samstockguru #25437

The number of Bitcoins BGL has is the only company that is significant because of pending merger. I believe the merger will happen.
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.