I'm guessing that KNC had to raise new capital to finance Solar tape-out and manufacturing. This means that they weren't able to retain enough earnings from past activities to self fund the new generation of hardware (hence all the operational problems we've witnessed this last year). They may have really just sold a call option on their future bitcoin production, which leaves them (and their investors) seriously exposed to a further decline in BTC prices over the next 18 months. In any case, they don't act like a successful company that is flush with cash.

Is it time to fork BTC to switch to X11 yet ? Will DRK gain serious mindshare ? Join us next week for more conjecture on the jiving, conniving, thieving, scamming quasi-criminal wild west world of crypto currencies ...