Agreed.

All we need are two things.

• Cabinets in a data center
• Our hardware

Then we hook up power, network and configure. Then we've got clean power, adequate cooling and a reliable connection to a pool.

I'm assuming that most of the problems with our current hardware (apart from a couple of bad boards) are related to either
insufficient cooling or unreliable power supply.

Of course, we have two questions.
We need to know what the hold up is with the data center and why Cointerra haven't delivered the rest of our hardware yet.

Guybrush01 says his data center can provision 5 cabinets in 3 days for $5,000. If we had all 10 current TerraMiners running, that's just 5 days income and we have 16 BTC in the reserve fund to cover it in the mean time.

Very true.

On the plus side, Eligius says we have been running at ~6 TH/s for the last 7 hours. A new stable hashing record of 37.5% of our max hashrate compared to last week's 25%. With what we have now, we should be making 1.9 BTC per day compared to the 0.7 BTC we're making at the moment. We're also pissing away money at a slightly lower rate than last week. Which is a start, I suppose.

So once again, we're a mining company who doesn't mine.

With the 1% late delivery penalty, as of today CoinTerra owes Cognitive 41.16 TH/s.

• Is Ravi actually going to honour this and will the 26+ units actually work?
• When will they arrive?
• Are we going to keep them or sell them too?

Garr said last week that the current hardware would be moved to the Washington datacenter "this coming week".

• Did you actually try to run our current hardware at the colo?
• Do we even have space in a datacenter yet?

What precisely was the problem with the current hardware? I find it difficult to believe that 80% of CoinTerra's machines simply don't work or just limp along at half capacity. There are plenty of dissatisfied TerraMiner owners out there but not 80%.

We spent almost 700 BTC on this CoinTerra deal. If we somehow both get and sell all 26 TerraMiners for $10,000 each tomorrow, we only make 416 BTC. So far, Cognitive seems to be a very efficient way to lose money.

With 41 TH/s, today we should be mining 4.872 BTC per day. We need to mine immediately.


I seriously doubt that, in it's current state, Cognitive could raise any funding whatsoever. Quite a lot of people got burned on COG.F and COG.F2. They were sold at 5 BTC each for 20 ordinary shares. That's 0.25 BTC per share. Cognitive is currently circling the drain at 0.0251 BTC. Nobody in their right mind would touch this clusterfuck until it starts performing. I'm talking about actual performance not promises, not "next week", not "in the future" but actual mining income from all the hardware we supposedly bought distributed as dividends with 50% held back for reinvestment as per the contract.

Edit: Spelling