Company plans to build $50 Billion supercomputer in NewMexico for Bitcoin mining

Mikestang

legendary

Activity: 1274

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Maybe they're building massive cpu farms, why else mention flops? Maybe they haven't heard of ASIC... Huh

Planning massive data centers like this is pointless. No one knows what the bitcoin network will look like next week, let alone by the time these centers are powered up and running. I doubt they will ever see the light of day, let alone be profitable.

You could spend $50 billion on almost anything else, like lottery tickets, and most likely see more return on investment.

kelsey

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Quote from: Gleb Gamow on August 19, 2015, 12:47:52 PM

Fuck them and the horse they rode in on: https://bitcointalksearch.org/topic/john-fitzpatricks-exascale-power-co-of-portland-or-is-scam-1157231

another case of never letting the facts get in the way of a good story

bet this thread is continued on by noobs anyways Lips sealed

TheDeathSpiral

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Quote from: hexafraction on August 19, 2015, 05:46:31 PM

I feel like this article is mixing technical terms. Is this an ASIC farm, or an exascale general purpose processor based supercomputer?

Neither, it's a mix of scam and delusion, weighted towards delusion given the quoted communication a few posts up where John Fitzpatrick proposes taking ownership of Intel in exchange for shares in his one-person "company".

hexafraction

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Tips welcomed: 1CF4GhXX1RhCaGzWztgE1YZZUcSpoqTbsJ

I feel like this article is mixing technical terms. Is this an ASIC farm, or an exascale general purpose processor based supercomputer?

BitcoinAddicts

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There was a useful thread to help people know if a mining company is a scam or not

https://bitcointalksearch.org/topic/m.9697654

Meuh6879

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Quote

The company has a core group of 50 engineers, with staffing of 2,500 required at full system build-out,” Fitzpatrick said, noting the company is currently hiring.

For bitcoin mining, all you need is :

- RJ45 clamp
- 5km of Ethernet cable
- 20km of electrical power cord
- 100 ethernet switchs gigabit
- hall
- power supply

so 2 engineer and ... 20 electricals workers. Tongue

Hopalong

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Quote from: smoothie on August 19, 2015, 12:10:28 PM

Lots of people plan to do lots of things...doesn't mean it will come to fruition.

More hype BS from some guy who thinks he knows what he is talking about..

PFFT $50 billion...

Yes let's invest $50 billion into a miner/supercomputer for bitcoin mining when the total market cap of bitcoin is $4billion.

LOL!

And $0.7 billion has disapeared in a couple of days... Cheesy

batesresearch

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Activity: 2424

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Looks/Seems very scammy!

manselr

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Quote from: Brad Harrison on August 19, 2015, 12:04:45 PM

They are starting a little too late I would say

Big players like Intel will eventually come #1 miners, no way the developed nations will let Chinese mining and mining away as the mining gods of BTC. But I doubt some random mexican business is going to spend that much on it.

Gleb Gamow

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Fuck them and the horse they rode in on: https://bitcointalksearch.org/topic/john-fitzpatricks-exascale-power-co-of-portland-or-is-scam-1157231

Gleb Gamow

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Quote from: smoothie on August 19, 2015, 12:10:28 PM

Lots of people plan to do lots of things...doesn't mean it will come to fruition.

More hype BS from some guy who thinks he knows what he is talking about..

PFFT $50 billion...

Yes let's invest $50 billion into a miner/supercomputer for bitcoin mining when the total market cap of bitcoin is $4billion.

LOL!

< with apologies for the famatting> http://www.barchart.com/plmodules/?module=secFilings&filingid=9935675&type=CONVPDF&popup=1&override=1&symbol=INTC

Quote

This letter is a preliminary communication before a formal tender offer to exchange some shares of Exascale Power Co. IRS# 46-4266719 in
Portland, Oregon for all of Intel Corporation IRS# 94-1672743 shares of common stock, CUSIP 458140100.

In my past several months of communication with staff at Intel Corporation, forming a relationship as a potential Intel customer to build the
Worlds first ExaFlop Supercomputer( see exascalepower.com )in Oklahoma, I see more of an opportunity to grow my business in large scale
data center development with ownership and controlling interest in Intel Corporation.

The cost detail of nearly $18 Billion in 2014, presented to me as a potential customer for the ExaFlop System mentioned, with a similar amount
needed for upgrade in 2016, and budget of an extra 20 percent for unforeseen cost overuns building a new system, the resulting $50 Billion
budget represents over one third of the present $134 Billion market capitalization of Intel Corporation. With a published Intel profit margin of
50 percent that would represent $25 Billion increased earnings. Trading at the current P/E of 14 means the Intel Market cap would increase by
$350 billion to nearly $500 Billion.

In addition, I proposed entering into an IBM-type service contract with Intel to staff and maintain the Data Center as a turn key operation for
my company as end user.

The Exascale Power Co. Data Center in Oklahoma will generate projected EBITDA of $13 Billion per year, with economies of scale allowing
pricing of the commodity cloud computing service well below Google and Amazon, to capture significant market share. Immediate Future Plans include a ZettaFlop Data Center (1000x larger) in New Mexico in 2016.

My interest would be to continue Intel as a public company, and preserve the published Intel profit margin exceeding 50 percent, while gaining
the efficiencies of merging an aggressive data center developer/operator with Intel, a demonstrated industry leader in hardware, and adding
IBM-type service contracts.

Greater emphasis on big data center development by Intel will also better support Corporate and Industry growth in Mobile and Internet Of
Things markets by substantially reducing cloud computing costs.

John Fitzpatrick
CEO, Exascale Power Co.
1819 SW Fifth Ave #211
Portland, Oregon 97201
202-277-4478
[email protected]

smoothie

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LEALANA Bitcoin Grim Reaper

Lots of people plan to do lots of things...doesn't mean it will come to fruition.

More hype BS from some guy who thinks he knows what he is talking about..

PFFT $50 billion...

Yes let's invest $50 billion into a miner/supercomputer for bitcoin mining when the total market cap of bitcoin is $4billion.

LOL!

LiteCoinGuy

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Activity: 1148

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In Satoshi I Trust

in germany there is a company that plans to build a mining farm with 1 Exahash of Power. well, we will see how this will end.

Brad Harrison

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They are starting a little too late I would say

LiteCoinGuy

legendary

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In Satoshi I Trust

50 billion? come on guys...i believe it when i see it....

"According to the Institute of Electrical and Electronics Engineers (IEEE), the U.S. probably won’t build its first practical exascale supercomputer until 2023"

February 27, 2014

http://nextbigfuture.com/2014/02/john-fitzpatrick-is-forming-company-to.html

some more:

http://www.sec.gov/Archives/edgar/data/50863/000160425514000002/0001604255-14-000002.txt

Gleb Gamow

vip

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ACG MN Announces Luncheon Featuring John Fitzpatrick, CEO of Woodcraft Industries – November 13, 2007

Hey, maybe John Fitzpatrick is carving out a niche. Roll Eyes

maokoto

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✪ NEXCHANGE | BTC, LTC, ETH & DOGE ✪

It is too much money, and not so easy to take it back. Bitcoin is solid, but who nows what can happen when mining is at end. Would the price rise or lower? Also, mass adoption is a wish many have, but perhaps it would not realize.

S4VV4S

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Quote from: RustyNomad on August 19, 2015, 11:09:57 AM

Will this actually be worth it?

Meaning how many coins are still to be mined and at what price taking into account the halving etc...

No, IMO.
It would be better for them to invest that money to pucrhase as many Bitcoins as possible and to startups.
They will have a better chance of ROI with less trouble.
And no need to employ 2500+ employees.

LFC_Bitcoin

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#1 VIP Crypto Casino

Quote from: RustyNomad on August 19, 2015, 11:09:57 AM

Will this actually be worth it?

Meaning how many coins are still to be mined and at what price taking into account the halving etc...

This ^^

I don't believe this story will bear fruition for a number of reasons. Mainly that bitcoin could still massively fail, 50 billion USD is a hell of a lot of money to invest on something that isn't a sure thing.

RustyNomad

sr. member

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Will this actually be worth it?

Meaning how many coins are still to be mined and at what price taking into account the halving etc...

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