Quote from: Wintermute on January 13, 2015, 01:19:12 PM

In related news :

https://www.reddit.com/r/Bitcoin/comments/2rnzlj/message_from_havelock_investments_related_to_peta/

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Dear Unit Holders,

Under current market conditions with low BTC rate and rising network difficulty, we have come to a point where mining revenue will no longer cover hosting costs. We would like to present 2 possible scenarios for which PETA unit holders can place their vote (see link below):

1) Liquidation of all assets of PetaMine, this means we will sell all hardware including underlying liabilities with suppliers to a third party. Current liabilities include energy contract until the end of May 2015, which can not be terminated prematurely. We estimate that this option would yield a one time dividend of 0.00025 BTC per unit (dependent on BTC rate and negotiations). After one time dividend payout, PETA will be delisted from the Havelock platform.

2) We continue with the current situation and dividends will be paid if mining revenue covers the hosting costs. This situation will only occur if BTC-rate increases sufficiently. Under current conditions, mining revenue does not cover hosting costs, incurred losses will be compensated from future hardware sale. If losses exceed the market value of the hardware, we remain the right to prematurely liquidate all assets to cover for these losses.

Option 1 is a more conservative scenario while option 2 is more speculative and will only yield value if BTC rate rises significantly and network hashrate remains stable.

Unit holders can place their vote until Wednesday, January 14th 2015, 12:00 GMT. Votes will be weighted based on the amount of units of each individual unit holder.

Click the link below to place your vote: --LINK REMOVED--

Team CryptX

Thank you for investing with Havelock Investments! --LINK REMOVED--

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With BTC price crashing I hope GM will hold on... :-/

Marco or someone in the GM team : could you assure us everything is "ok" on your side ? I can imagine it's not the best price/ROI situation but if you could just confirm us that you won't close anysoon, people would be investing more Wink