Topic: DataTank Mining: 1.2MW 3M Novec Immersion Cooled 2PH Mining Container - page 3. (Read 44433 times)

So DTM basically raised enough money during direct investment to cover for at least 5 whole shipping containers.

Do I understand this correctly?

Will capacity be available for sale once the management interface is online?
-yes, management interface will be available around time of deployment

Will those units then be built to order or are you producing more than originally sold?

Will the smallest unit of investment then be ~ 1/400th of a tank? (As I understand around 400 blades will fit into one tank)


I really hope that small investors will get the opportunity to buy capacity, as originally promoted by DTM.

This is obviously a long-term effort by DTM, and I hope the production goes well and we will see some finished units soon.


I for one was really hoping to get the chance of investing into this, lets hope capacity will be for sale in 3-6 months.

Will there still be an IPO on havelock or will everything be done on your system?

Can you share with us how many containers were sold?

On the contrary. Small investors can get in once the control panel is online and the first systems are being deployed.

In other words: the larger investors are paying for the small investors to get in with less risk.

It will take a while, but the wait will be shorter = more predictable investment. Everything else still applies.

Patience is all that is required. In the meantime you can watch it happen without the need to risk your Bitcoins on it.

This literally developed during the past few hours, so this is also very new to me.

So there is no chance now for small investors to get in on this?

Update 07 Jul 2014:

We are pleased to report several positive developments.

Offering on Havelock:

•   DataTank Mining has received enough funding via direct investments in the pre-offering phase to proceed with the business plan.

•   Offering of single DataTank Mining units on HavelockInvesetments.com has been cancelled for the time being. The internal platform (control panel) will be developed in parallel to the initial DataTank systems.

•   The prospectus will be updated in the near future to reflect latest information and further changes. Most significant changes are that DTMA units (capacity and mining hardware) won't be necessary in its current form. This is a step towards reducing investment risks and making DataTank Mining a more predictable venture. DTMA and investment in future hardware for future deployment has caused confusion that can be avoided (we are working with DTMA direct investors to convert units).

•   Direct investments into capacity units are always welcome by emailing to [email protected]. Please note that until the internal platform is available, a minimum purchase of 10,000 units (edit: 100kW).

•   We apologize for the dust to the community and to HavelockInvesetments.com, please bear with us to make this not only the most efficient mining venture, but also to raise the bar for safe mining investments. We plan to make this as predictable as possible for participants and partners.

Other Information:

•   Production for DataTank No. 1 has already commenced and AM BE200 hardware is the hardware of choice for initial deployment. We are currently evaluating if Scrypt hardware will be available in time for at least a partial deployment to use some spare capacity.

•   We keep working with ASIC manufactures for their current and future chips to make them available as immersion blades. We are also offering capacity in DataTank systems and prototyping runs to existing and new ASIC manufacturers to get their hardware immersion ready.

•   We will keep working on hardware support, deployment locations, and other partnerships while the initial DataTank container systems are built for deployment.

•   We would like to re-emphasize that DataTank systems and the operation expenses include everything required for mining, including electrical switchgear, transformers, power supplies, cooling, rents, 24/7 on-site support staff, iPhone control panel, and anything else that is needed for operation. There are _no_ other costs.

•   Reselling of ASIC hardware for air cooling users will be possible. Please note that immersion blades are based on a dual design for immersion and air cooling (1U form factor or tube-like) and we encourage manufacturers to follow our design guidelines.
https://www.googledrive.com/host/0ByWHHc0u_thNT293cTl6OXBVZms/AirCooling_01.pdf
https://github.com/blockerupter/AM_Tube/blob/master/complete_set.png
https://docs.google.com/uc?export=download&id=0ByWHHc0u_thNdzB3c2hvVzJkcTQ

•   If reselling for air-cooling is indeed in demand by Q4 2014 or Q1 2015, DTM will make available at-cost DIY reselling packages that consist of inexpensive cardboard boxes, thermal paste, heatsinks and fans, with a compartment for immersion blades. DTM will also offer shipping services at a transparent small fee to unit holders to liquidate their hardware (with or without air cooling kit).

Please also follow DataTank Mining on Twitter to receive updates:
http://www.twitter.com/DataTankMining

We also posted a couple of videos recently showing several chips in action and will keep posting progress reports and pictures frequently:
http://www.vimeo.com/datatank/

Noted looking out for an update sometime today then 7th on server time.

what is the exact time? i.e. 9:00 am, July 7?

Bump: What is the chip purchase timeline?

Announcement in regards to the offering will be made tomorrow July 7th.

@DTM
Is everything on track for the IPO tomorrow?

Right. Units buyers will in fact collectively own income from DTM's product.
Current view of DTM insiders on potential profitability would be highly appreciated.

Issuers are emailed shareholder lists multiple times each day.

You prove something by giving evidence for your claim, therefore the two words can be used with equivalent meaning.

The DTM guys (aka antirack... etc.) have given numerous arguments why they believe this operation will succeed.

The basis of all these arguments can be found in the prospectus of the asset aswell as in the first page of this thread.

They can certainly not be expected to post the same numbers on every page of this thread, so please look through the thread yourself in order to come to your own conclusion.

Where did I say PROVE?

I said give evidence.

You state they made a profit... ok where is the evidence? Anyhow this is all off topic and doesn't really matter to this security. My concern is this offering and how can one measure it? Are we not just better off buying cloud hashing? Buying say altcoins or BTC? I want to have a good reason to put money into this technology based on projections about this project not other projects. I am seriously interested in this security I believe the technology is the future of mining but is it too early or too low a return given the risk? Show me it is worth it and I will invest. I am asking the DTM guys for insight here not the fanbois or trolls.

----

This is for the DTM guys to answer if they can.

Question is what are the DTM projections should someone buy 10 units of capacity?

There is obviously no possible way to produce evidence for future earnings in bitcoin mining.

The only thing you could try and prove is that you have a price advantage in deploying and running your hardware, which should therefore allow you to profit more than other mine operators.

Evidence.

That is what I want. Real numbers or projections based on data not just what Dave said off hand or conjecture... you can't rail against the troll and then turn around and do the same and throw out that big mines are profitable. Remember that was then and this is now. Different situation when Mega and others set up initial 6 to 12 months ago and now. Especially with a more competitive market out there than in 2013 or even April or May this year given what I saw at the HK Inside Bitcoin conference.

This where either as a VC you challenge them to produce the numbers and estimates or you as an investor go out and do the homework.

This is where I want to see if this group has done some numbers on this and give us their range or best estimate. Why should I bother putting in my BTC or $$$ given the high risks involved and no number presented. I am not going to compare what other mining fabricators have done to the community good or bad but you need to have some sort of projection. Has that been presented?

Are we the ones who are putting up the first coins to simply pay for the development of this tech while others reap the rewards in a second or third generation variant? This has been the unfortunate model in the past and since there is no "ownership" in the venture here just shares of the mining then it becomes less interesting on the face of it. So you need to be convinced with some sort of estimates or projections for buying watts (shares) in these dunk tanks.

I am confident these guys are on the level and are honest brokers but we need to have numbers to determine whether or not we should risk our money on this or just buy some BTC or another ALT that might be as risky with potentially a much greater return.

What can I expect for my say 1 unit of capacity?

That way I can compare it to other opportunities and make a calculated decision right?

---

My apologies if I have skimmed over these notes somewhere or if that has been stated here. Lot of wasted effort on the troll side to get to the crux of the matter. Is it worth buying 1 unit or 100 units of capacity? That is what investors want to gauge.

What he is basically saying is Bitcoin mining is unprofitable for investors.  The "securities issuers" do just fine

I am pretty sure that most big mining farms have in fact returned a profit for the investors.

See the very first big mining farm, the 500TH mine at megabigpower, it returned full bitcoin profit only half a year after the start of operations.

What you are basically saying is that bitcoin mining isn´t profitable?

This is my biggest concern as well, and I'm sure we are not the only ones in here. Looking back at the big mining farm investements that came up over the last couple of years, I think there isn't a single one that turned a profit for it's shareholders. So whilst this venture sounds really good on paper I remain sceptical about turning a profit or even getting ROI.

Not sure if you have the full context.  OP has made a claim that DataTank prevented "creeping corrosion," a problem that hasn't been publicly reported by a single bitcoin miner to date.  I pointed out that while possibly solving this problem, the Novec cooling solution could be introducing a few of its own, which have yet to come to light.  Electrolytic capacitor impregnation (Novec fluids are commonly used as solvents) and potential difficulties in dealing with both capacitor degradation and catastrophic failure were cited as an example.
https://bitcointalksearch.org/topic/m.7637984

TL;DR:  There's plenty of high-tech VC money looking for ground, there is no need for legitimate corporation to peddle their gear to punters through unlicenced Panamanian exchanges.
Submersion cooling is as old as the hills.  Even the "DataTank" idea is unoriginal--Google "Green Revolution Container."