Starting a new FPGA mining farm/contract! Cognitive Resurrected on[Havelock]

[Garr255]

P.S. One of our two shiny new Avalons should arrive and be hashing on Saturday, and the other one next week!

Did it arrive today?

Yep

Unboxing pictures:
https://dl.dropboxusercontent.com/u/9542654/btc/Cognitive/DSCN1590.JPG
https://dl.dropboxusercontent.com/u/9542654/btc/Cognitive/DSCN1591.JPG
https://dl.dropboxusercontent.com/u/9542654/btc/Cognitive/DSCN1592.JPG

I'm finding the IP address the seller set it to right now, once I find it in a few minutes it'll be hashing!

Have any of the funds raised from the COG.F issue been used yet? Is there a timeline on distributing those shares?

Yes, those funds have been used to purchase Avalon chips, which will be hashing in early September.

Cheers,
Garrett

Edit: Our Avalon is hashing!

[jboogie]

hey, I'm new here. What hardware is currently hashing, and what other hardware has been ordered and is due to arrive in the future (and any estimates on when will it arrive)?

[creativex]

Congrats Garr! Nice choice...Avalons are easy to get along with.

[Garr255]

Congrats Garr! Nice choice...Avalons are easy to get along with.

Thanks!

The other Avalon will be in the mail tomorrow!

Cheers,
Garrett

[alexius89]

Garr255 i think an official update with the new hardware and so on here and on the btct.co page is necessary. :-)

[cashmere]

What is the speed of your entire setup? You also mentioned that you are getting some new machines soon, what are the expected GH/s additions that they will be bringing?

[lunarboy]

Garr255 i think an official update with the new hardware and so on here and on the btct.co page is necessary. :-)

+1 follow the lead set by bASIC MINING

[alexius89]

it really needs some official Updates by Cognitive on btct.co and here in the thread

Have a look at the Share Price with basic Mining

[igba]

yall should make an announcement after the second avalon is up on BTC-TC, there really hasn't been any news in like 2 months

[redbeans2012]

yall should make an announcement after the second avalon is up on BTC-TC, there really hasn't been any news in like 2 months

A place to see exactly what we are hashing at and the planned hashing in the near future would also be great.  Hard to find the info.

[Garr255]

Thanks for the input, all. Updates, stats, and info are all coming soon!

Cheers,
Garrett

[drewmsmith]

We should still have the same amount of BTC funds in reserves after this transaction as it's paid for purely with stock.  Do we have any other offers on the table where we can spend some of our btc on hand to get more hashing power?

That is correct. And yes, I am currently negotiating with multiple people regarding Avalon pre-orders and physical units. It might also be worthwhile to look into KNCminer. Additionally, I am testing some BitFury chips this week, and we might want to place an order for some of their chips.

I'll keep the thread updated!

Best,
Garrett

How much would Cog pay for an in hand BFL 60 ghs ASIC?

Thanks.

Following the pricing schedule we are paying for the Avalon, I believe 300 shares would be a fair price for this. We do have sufficient shares in the treasury account so this will not be a problem.

Are there any objections? I am all for getting our hashrate up ASAP therefore would like to take you up on this offer if you're interested and there are no disagreements

Cheers,
Garrett

I would be happy to accept that offer as I am having trouble with my current hosting solution.

Thanks.

Better hurry before all those treasury shares get bought!

[Garr255]

Here is what I just posted in the BTC-TC/Cognitive news feed:

Hello Shareholders!

This Saturday, I proudly opened the box containing one of our two Avalon miners that we have purchases using a total of 900 of our treasury shares. The second Avalon will be mailed to us tomorrow and online by the end of the week!

Additionally, BFL is making great progress in shipping their SC Singles, which we have a very early pre-order for seven of! These units run at ~60gh/s each.

Our current hashrate: 83 gh/s

Our hashrate at the end of the week: 153 gh/s

Our hashrate after the BFL units are delivered (soon): 573 gh/s

Our hashrate after the BFL and Avalon chips are delivered (September): 960 gh/s

Our hashrate after all of the above and we spend our remaining treasury shares + growth funds: 1.1+ th/s (1100+ gh/s)

In addition to all of this good news: as of last week Cognitive has paid out OVER 1000 bitcoins in dividends! For our current inventory and total dividend history you can always refer to http://cognitivemining.com/

These are going to be a very exciting few months for Cognitve

Cheers,
Garrett

[KCBitcoin]

Hey Garr,
Thanks for the great news!
I just have one question, according to your numbers, are the Avalon we just bought running at 70GH instead of 80GH?

[shbtc]

We should still have the same amount of BTC funds in reserves after this transaction as it's paid for purely with stock.  Do we have any other offers on the table where we can spend some of our btc on hand to get more hashing power?

That is correct. And yes, I am currently negotiating with multiple people regarding Avalon pre-orders and physical units. It might also be worthwhile to look into KNCminer. Additionally, I am testing some BitFury chips this week, and we might want to place an order for some of their chips.

I'll keep the thread updated!

Best,
Garrett

How much would Cog pay for an in hand BFL 60 ghs ASIC?

Thanks.

Following the pricing schedule we are paying for the Avalon, I believe 300 shares would be a fair price for this. We do have sufficient shares in the treasury account so this will not be a problem.

Are there any objections? I am all for getting our hashrate up ASAP therefore would like to take you up on this offer if you're interested and there are no disagreements

Cheers,
Garrett

I would be happy to accept that offer as I am having trouble with my current hosting solution.

Thanks.

Better hurry before all those treasury shares get bought!

Did this deal fall through? I don't think it was included in the news update.

[Garr255]

Hey Garr,
Thanks for the great news!
I just have one question, according to your numbers, are the Avalon we just bought running at 70GH instead of 80GH?

Yes that is correct.

Also I forgot to add, that when we reach 1.1th/s, with the current difficulty rate we would be producing BTC21.14 per day. (using http://www.alloscomp.com/bitcoin/calculator for maths)

[Garr255]

We should still have the same amount of BTC funds in reserves after this transaction as it's paid for purely with stock.  Do we have any other offers on the table where we can spend some of our btc on hand to get more hashing power?

That is correct. And yes, I am currently negotiating with multiple people regarding Avalon pre-orders and physical units. It might also be worthwhile to look into KNCminer. Additionally, I am testing some BitFury chips this week, and we might want to place an order for some of their chips.

I'll keep the thread updated!

Best,
Garrett

How much would Cog pay for an in hand BFL 60 ghs ASIC?

Thanks.

Following the pricing schedule we are paying for the Avalon, I believe 300 shares would be a fair price for this. We do have sufficient shares in the treasury account so this will not be a problem.

Are there any objections? I am all for getting our hashrate up ASAP therefore would like to take you up on this offer if you're interested and there are no disagreements

Cheers,
Garrett

I would be happy to accept that offer as I am having trouble with my current hosting solution.

Thanks.

Better hurry before all those treasury shares get bought!

Did this deal fall through? I don't think it was included in the news update.

Currently because of increased share value I am renegotiating that deal. I am open to purchasing hardware with our remaining 700+ shares if we value them at 0.62+ each, which is what they're currently listed for.

[Garr255]

I apologize for the confusion on my part there, I had thought you were still thinking about the new offer of 150 shares instead of 300.

[KCBitcoin]

I apologize for the confusion on my part there, I had thought you were still thinking about the new offer of 150 shares instead of 300.

No, I thought I made it clear but if not, my fault.

Anyway I have a policy of not changing the price on a deal after it is accepted. That is a questionable act in my book for both parties involved.

Thanks.

But I guess you haven't accepted this deal until early today, like when the share price reach like 0.6/share. I guess things change fast, if you missed the deal that day that time, you missed it.

[Garr255]

I apologize for the confusion on my part there, I had thought you were still thinking about the new offer of 150 shares instead of 300.

No, I thought I made it clear but if not, my fault.

Anyway I have a policy of not changing the price on a deal after it is accepted. That is a questionable act in my book for both parties involved.

Thanks.

But I guess you haven't accepted this deal until early today, like when the share price reach like 0.6/share. I guess things change fast, if you missed the deal that day that time, you missed it.

I am at fault there however, for not specifying how long the offer was, or what might nullify it (like a large increase in share price).

My apologies for not being as clear as I wanted to.