IT will be interesting to watch this progression also as i have a good bit of capacity at GM.
however i am in the 4%+ affiliate range and work with a group of affiliates to always get the maximum discount.
if you buy in quantity (5Th/s+) and get a good referral you can get as low as $130 per TH/s buys.....
the S9s on the market run $150-$170 per Th/s before PSU+ Electricity and man hours.
SO the only scenario i can see losing here is if GM goes under....especially if you have a means to invest from a corporate expense situation.
So i will be following this. (just my 2cents)
Dear Newbie, you're forgetting to mention that the "maintenance fee" is ~$0.12 per kWh and if you plug it into any Bitcoin calculator you have 400+ days to "ROI" if diff stays constant, and you would barely get half of your "investment" back if diff goes up at 2% on average. SO... you may want to visit an eye doctor if you can't see that "scenario".
Real hardware at least has a resale value.