I just read this story WSJ posted the other day (
http://blogs.wsj.com/moneybeat/2014/12/01/bitbeat-under-fire-gaw-miners-ceo-garza-takes-on-his-critics/)
I immediately spotted the first problem, the warehouse.
11:36 am December 2, 2014
ck wrote:
Can you guys please explain how a 180,000 sf warehouse turns into a 150,000 sf warehouse in a few days?
In your last GAW advertisement you said "According to Mr. Garza, his Bloomfield, Conn.-based companys cloud mining operation is run out of a 180,000-foot Mississippi warehouse with 15MW electricity capacity."
in this story you say "We also obtained a copy of the lease contract to a 150,000-square foot warehouse in Park Purvis, Miss., where GAWs mining operation occurs, and saw photos of a new operation under constructions with hundreds of rigs stacked on shelves, high-tension wires and heavy electrical infrastructure."
In two weeks will the warehouse shrink any more? If this GAW CEO guy does not know the size of his own warehouse...? 30,000 sf is a lot to, how do I put this nicely, not tell the whole truth about.
This is just one of the very very many discrepancies that, just looks bad.
Its actually disappointing that WSJ didn't see the GIANT difference in warehouse size and, at the very least, ask about it.