A partial shot of one friggin' excavator? That's his proof that Riot is working hard in Corsicana? It looks broken down. A picture that could have been taken anywhere. Shouldn't there be people, tractors, other things included if one is going to provide proof that...
Whinstone, Northern Data – What’s Really Going On?
Merriam-Webster dictionary definition of fraud : intentional perversion of truth in order to induce another to part with something of value or to surrender a legal right Summary: We view Northern Data as the latest crypto industry player that is intentionally “bending...
Riot Blockchain Inc. v. Northern Data AG: Complaint ($114M)
Complaint for $114 million alleging breach of contract in Riot Blockchain Inc., a Bitcoin mining company v. Northern Data AG, of Germany, at the Chancery Court of the State of Delaware.-September 7, 2022 Learn more here (but you will have to subscribe to access the...
Whinstone, Chad E. Harris, CEO, Northern Data allegedly manipulated stock markets
This article was originally published on October 7, 2021. In 2020, an article -- Northern Data — A Shady Bitcoin Mining Host, camouflaging under High Performance Computing/Artificial Intelligence Story -- posted to Medium claimed the company was playing down its...
Chad Everett Harris, Whinstone US, RIOT Blockchain, sued for $50MM
According to the lawsuit, Chad Everett Harris, Ashton Harris, and Whinstone US started a bitcoin mining operation in Louisiana with a $5.8 MM initial deposit provided by GMO Internet Group to cover construction costs and to provide working capital. Whinstone made...
62% of RIOT’s miners (and growing) are semi-permanently idle?
Check my math, I'll update the post if there are any corrections. The June Operational Update states: > Building F holds 23,000 miners and is full. > RIOT currently has 42,455 miners deployed total, including at Coinmint. > RIOT is shutting down the Coinmint...
GigaChad, RIOT Blockchain cash flow problems?
In the Q1 report, RIOT had $113M in cash as of March 31, 2022 and spent a net of $198M cash over those 3 months ($66M / month). Now, 4 months later, what might we estimate has happened since: Another -$264M spent (continuing the $66M / month). +$140M raised in April...
RIOT’s investor presentation indicates RIOT will underperform BTC performance.
Jason Les replied during the AMA for 4 minutes. I’ll quote bits below: the purpose of that model was not to forecast Riot's financial performance Maybe not, but I think it’s presented in a way that makes it easy to imagine someone making that mistake. He also said in...
Chad Everett Harris, Riot Blockchain, no way to grow?
At record date for the proxy 135M out of the 170M authorized were issued. When Q2's ER is released we'll know more of how deep the shelf has been filled. Employee proxy item did pass, so they need to hold back shares for those employee programs. Doesn't leave them...
Chad Harris, RIOT Blockchain Fraudulent Presentations?
Last year RIOT started adding an attachment to it's monthly production updates with a chart of what the projected hashrate would be in the future. Each month, we got a new actual hashrate and a new projected hashrate schedule. I spent some time pulling every one of...