News 
Market Data 
Discover
Replies to post #28955 on Bayside Corporation (BYSD)
03/13/14 2:56 PM
03/13/14 2:58 PM
03/13/14 3:00 PM
In a perfect world where mining difficulty was lower, bitcoin prices were higher and a warehouse full of mining rigs could be run by one man, Dino the owner of North America’s largest bitcoin mining operation, could be earning $8m a month.
However, just like reports of bitcoin’s death, reports of Dino personal earnings are, unfortunately for him, exaggerated.
With the mainstream media continuing to paint bitcoin as a modern-day gold rush, Dino's rags-to-riches story has been of particular interest, even if it hasn’t always been put in the proper context.
To be fair, though, estimates of his potential earnings don’t seem unlikely when you consider he went from driving a $300 Honda to presiding over a million-dollar company in just under a year, and that bitcoin mining is still widely misunderstood.
Still, when the facts are examined, Dino's business is no less impressive.
To get to the truth of his story, CoinDesk spoke to Dino's about the increased attention his Washington-based warehouse operation (he won’t reveal the exact location) is receiving, how he built the company and how it earned $8m a month when bitcoin prices were near their peak.
Dino's summed up his transition, saying:
03/13/14 3:10 PM
03/14/14 2:46 AM
03/14/14 2:49 AM
11/18/15 8:31 AM
11/18/15 10:16 AM
11/19/15 9:56 AM
11/24/15 11:35 AM
On August 1, 2011 the Company renewed the Management Services Agreement with DZ Energy, LLC,
which provided for the payment of $15,000 per month for the services provided. The term of the
Agreement is three (3) years and a Note was issued in the amount of $540,000 covering the total to be paid
under the Agreement. The remaining balance of the Promissory Note as of August 1, 2014 was transferred
to the Leasu Trust, the Managing Member of DZ Energy, LLC. The Promissory Note has been partially
paid through the issue of shares of Common Stock on various occasions as follows:
Month of Issue Amount of Conversion Number of Shares Issued
1) September 2012 $180,000 9 million shares
2) April 2013 $ 21,000 210 million shares
3) October 2013 $ 9,000 90 million shares
4) January 2014 $ 5,300 80 million shares.
5) April 2014 $ 7,300 53 million shares
6) September 2014 $ 9,500 95 million shares
7) November 2014 $ 12,000 120 million shares
8) December 2014 $ 15,000 150 million shares (2 issues)
9) January 2015 $ 10,500 105 million shares
10) February 2015 $ 16,000 160 million shares (2 issues)
11) April 2015 $ 9.500 95 million shares
12) May 2015 $ 9,700 97 million shares
13) August 2015 $ 10,500 105 million shares
14) September 2015 $ 10,500 105 million shares
The remaining balance of this note is $214,200.
On August 1, 2014 the Company entered into a Management Services Agreement with the Leasu Trust
which provided for the payment of $15,000 per month for the services of Gordon H. Johnson as the
Chairman and the CEO of the Company. The agreement is for a period of two (2) years, terminating on
July 31, 2017 unless extended. A Promissory Note in the amount of $360,000 was issued to the Leasu
Trust as provided in the Management Services Agreement.
