The Coin Foundry - raising $10M in convertible notes for mining facility

[blunthammer]

The Coin Foundry is raising $10M in convertible notes to fund a site purpose built for mining crypto currencies.

The pitch is this -

Power is 5 cents, metered
Megawatt scale only
Immersion 2 and traditional rack cooling options
Rent is $50/kw-$100/kw
50MW in the first phase

Container friendly
Design help available

First leases commence 2014
Terms are first 12 months rent paid up front as deposit ($600,000/~1,000BTC - $1.2M/2,000 BTC), term length 24-60 months
First 3 months of power, true up after first 3 months ($90,000)

Locations confidential - US Midwest and US Northeast

Legal to be done by Perkins and Coie in the US

Pedigree of founders is easily verifiable
They have raised over $150M in the past for data centers

[Phildo]

where are you getting the miners from?
what are the specs for them?
when will they roi?

[jayc89]

The Coin Foundry is raising $10M in convertible notes to fund a site purpose built for mining crypto currencies.

The pitch is this -

Power is 5 cents, metered
Megawatt scale only
Immersion 2 and traditional rack cooling options
Rent is $50/kw-$100/kw
50MW in the first phase

Container friendly
Design help available

First leases commence 2014
Terms are first 12 months rent paid up front as deposit ($600,000/~1,000BTC - $1.2M/2,000 BTC), term length 24-60 months
First 3 months of power, true up after first 3 months ($90,000)

Locations confidential - US Midwest and US Northeast

Legal to be done by Perkins and Coie in the US

Pedigree of founders is easily verifiable
They have raised over $150M in the past for data centers

As a newbie, can I suggest your "founders" verify themselves on ardeva.com. The more details the better.

[RiverBoatBTC]

The Coin Foundry is raising $10M in convertible notes to fund a site purpose built for mining crypto currencies.

The pitch is this -

Power is 5 cents, metered
Megawatt scale only
Immersion 2 and traditional rack cooling options
Rent is $50/kw-$100/kw
50MW in the first phase

Container friendly
Design help available

First leases commence 2014
Terms are first 12 months rent paid up front as deposit ($600,000/~1,000BTC - $1.2M/2,000 BTC), term length 24-60 months
First 3 months of power, true up after first 3 months ($90,000)

Locations confidential - US Midwest and US Northeast

Legal to be done by Perkins and Coie in the US

Pedigree of founders is easily verifiable
They have raised over $150M in the past for data center

Why would anyone invest in a half ass IPO listing like this? Take some pride in your work.

[blunthammer]

Convertible notes are not an IPO, it is a form of capital raise.

[RiverBoatBTC]

Convertible notes are not an IPO, it is a form of capital raise.

So instead of addressing the issue you side step nice.

[Phildo]

Convertible notes are not an IPO, it is a form of capital raise.

So maybe tell people what you are raising the capital for and why it would be a good idea.

[blunthammer]

The capital raise has been pulled. Didn't need to raise that much. They will self fund.