As for the current situation, broyboy said it best:
I'm sad to see our miners go, but it sounds like it will be a fair deal. If indeed this all actually happens then the shares are a value right now.
The process is nearing its end, probably (note, indication) everything will be finalized within 24 hours.
Under the circumstances we are trying to make this as profitable as possible for the shareholders.
Nothing is being done out of ill intent. As a result of the bitcoin climate and indeed mistakes made the best thing for CM, including its shareholders is what we are doing right now.
We will keep you posted as information comes along. For now:Progress
The Terraminers have been sold. Part of the payment is clearing escrow right now, another part is waiting for completion. The old generation gear (SC Singles, Avalon) has not been bought by a buyer due to lack of interest, but Garr is compensating this out of his own Btc holdings.
Garrett has been off the grid for a couple of days. Hereby a message from him.
Dear Cognitive Mining Holders:
I want to extend a sincere thank you to everyone involved in Cognitive Mining within the past two years. This project has been exciting and educational for the majority of the duration, and recently it has been extremely stressful due to the Cointerra miners coming
online a week late and the immense bitcoin difficulty jumps. (The explanation for this has been posted before so please refer to that for
I apologize for not having multiple options for the hosting of these units, as opposed to the single datacenter which, after receiving the first shipment of Terraminers, refused to host the units without the full one megawatt contract. It is true that if multiple datacenters were ready to go this risk would have been mitigated, the only problem being each one wanting a large deposit.
Although ultimately out of my control, I am very sorry for the pain this may have caused anybody. Just for full disclosure, I have fortified all of my shares to the new manager and will not be receiving anything from the liquidation dividend.
Again, thanks to everyone who participated. I have not gained any monetary worth via this project, but that was never the goal. Many people have learned from the project, and that was the true goal since the beginning.
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