The model I put together is based on the rigs detailed in the November PR. I put the rigs, manufacturer's specs and rig count in an array. Using $0.041/kWH for cost of power and some online vendor sights that estimate profitability for various rigs and TH rates, I backed into the cost of power and BTC generated per hour for each rig and multiplied those results by the count for each rig. I estimated the overall cost and profitability of the legacy rigs that are online but were not itemized in the PR. Basically, I backed into that by solving to $960,000 annual revenue with BTC at $17K.
The model assumes INTV is mining BTC only though I know ETH and LTC should be in the mix. I can adjust it for difficulty by adjusting the BTC/hour assumptions. It does not take into account any potential profitability improvements from Wattum or any other tweaks that might have been done to improve on the specs.
The model provides a rough estimate but so far the results look reasonable and the implications are staggering. INTV generated $82K top line revenue in the quarter ending 9/30/2020. The model estimates revenue for the quarter ending 3/31/2021 at just north of $550K. Gross margin estimate is a bit better than the 65% some others have posted and net margin is estimated over 40% using OpEx and other expenses from the last 4 quarterly filings. (Net margin is a major SWAG since I can't really anticipate what adjustments the accountants will make.)
The WhatsMiner M31s were not online until the end of last quarter. I set their rig count at 0 and BTC at $18K to guesstimate revenue for the quarter ended 12/31/2020 might fall. It would not surprise me to see revenue well over $150K with a small bottom line number (+ or -) but that is a really rough estimate given all of the additional assumptions.
All of that said, one thing I am certain of is my model will be wrong. Hopefully, it will be useful.
My opinions and estimates only.
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