As of today, BitClub Network has purchased a total of 317 PH on behalf of all members. Currently, you will see about 240 PH is live a hashing in our pool with the remainder being sent as soon as the manufacturers can assemble it and ship it.
We believe 500 PH is very doable by the end of the year so we are making some upgrades to our pool servers and we also are making few changes to the mining pool structure itself. These new changes will go live on July 1st so make sure you are aware of them.
Change #1… With the current market conditions and the size of our orders, we need to extend the 10-day waiting period to 30 days. This means when you purchase a new mining pool share your 1,000 days will not start earning for 30 days. This also includes partial shares!
Change #2… We are going to be consolidating the partial share payments earned each month into 1 payment after the month is over. Basically, our system is being overloaded with partial share repurchases and all of the commissions that need to be paid on each of them needs to be optimized.
This solution will not only help to consolidate the payments but it actually gives you up to 30 days more hashing time on each share and it makes the tracking and management much easier.
Example… This is a sample table shown under the mining stats page for May partial shares:
Each time you earn 2.5% of the mining pool share the system automatically makes a repurchase. You see the repurchases individually like shown above. You will continue to see your partial shares earned in the current month, but after the month is over we will consolidate this table and sum all the of the partial shares earned to create a single monthly entry.
In this example the total new shares earned for May was 0.1029 shares, so all future payments will be made on this single figure. We are also going to give you the most days remaining on the last share earned in that month. (So in this case it would be 994 days).
So here is what the new table will look like…
This consolidation will happen sometime in the next 2-3 weeks (we are hoping July 1st) and when this happens it will be much easier for you track and see the stats under your wallet transactions. So please don’t be alarmed when you see your records shrink because the amounts will stay the same!