Hey all,
Due to many circumstances that have occurred since Aug-Sept of last year, LRM is no longer able to operate. Many factors contributed to this unfortunate event including lawsuit expenses, declining BTC price, and inability to host the hardware profitably anymore. Mining has ceased and the company has had to declare bankruptcy as of this time. This should not have been a total shock as almost all other mining contract based operations throughout the market have also ceased by this point, nevertheless it is highly unfortunate to have to bring this news.
Best of luck to all the bitcoiners out there,
Lab_Rat
Oh well, tnx for the ride anyway. What about the assets? Sell the hardware and distribut between contractholders?
The asset liquidation and distribution are out of my hands.
Yah it was just under 2 years, with plenty of ups and downs, wish it could've been longer.
what will the process for the bankruptcy be?
There are some other good questions since your last post as well.
Sorry it worked out this way, my biggest wish was for communication throughout the entire thing. Sometimes its hard not to believe all the naysayers. I remember you really believed in it when it started.