So once again, we're a mining company who doesn't mine.

With the 1% late delivery penalty, as of today CoinTerra owes Cognitive 41.16 TH/s.

• Is Ravi actually going to honour this and will the 26+ units actually work?
• When will they arrive?
• Are we going to keep them or sell them too?

Garr said last week that the current hardware would be moved to the Washington datacenter "this coming week".

• Did you actually try to run our current hardware at the colo?
• Do we even have space in a datacenter yet?

What precisely was the problem with the current hardware? I find it difficult to believe that 80% of CoinTerra's machines simply don't work or just limp along at half capacity. There are plenty of dissatisfied TerraMiner owners out there but not 80%.

We spent almost 700 BTC on this CoinTerra deal. If we somehow both get and sell all 26 TerraMiners for $10,000 each tomorrow, we only make 416 BTC. So far, Cognitive seems to be a very efficient way to lose money.

With 41 TH/s, today we should be mining 4.872 BTC per day. We need to mine immediately.


I seriously doubt that, in it's current state, Cognitive could raise any funding whatsoever. Quite a lot of people got burned on COG.F and COG.F2. They were sold at 5 BTC each for 20 ordinary shares. That's 0.25 BTC per share. Cognitive is currently circling the drain at 0.0251 BTC. Nobody in their right mind would touch this clusterfuck until it starts performing. I'm talking about actual performance not promises, not "next week", not "in the future" but actual mining income from all the hardware we supposedly bought distributed as dividends with 50% held back for reinvestment as per the contract.

Edit: Spelling