Oh I just received the following email. This is what I am talking about all the time. Why in the world the company would decide to fundraise in crypto when buying the equipment, paying salaries, lease etc. in fiat.
Dear Miner One Token Holders,
You have seen what is happening in the markets. When we started our Crowdsale, ETH was at US $920. As per the terms of our smart contract, your contributions were locked and inaccessible to us until the Small Cap (4.7 million MIO) was reached. It was right around at that time that ETH began its slide. As you know, it is currently down to below US $400.
We made a commitment to you in our roadmap to put in the first order for mining equipment at this time. However, given the market situation and the widespread view that ETH will rebound from these lows, our feeling is that it may make sense to wait a bit and give that rebound some time to occur.
I want to stress that we do not think waiting a few weeks to order the equipment will throw Miner One off schedule. We are currently preparing the facility in Luleå, with construction starting by next week.
I am also still confident that Miner One, being the Worlds Most Efficient Mining Operation, will deliver profits, given the underlying value that cryptocurrency and blockchain technology creates. That isnt going away and there will continue to be a need for data centers that support cryptocurrency networks.
But I do not want to take the decision without consulting you first. So please give me your opinion by filling out the short survey below.
Thank you for your trust and for being with us. We will continue to do our best to be good stewards of the funds you have entrusted to Miner One.
Sincerely Yours,
Pranas Slusnys
CEO
Btw the questionnaire was about the purchase of equipment, whether to buy all the equipment at this price of ETH, buy small amount or wait untill the price rebound.