As some of you are aware, Giga Watt was forced to close operations. There are multiple lawsuits against them.
The EcoPod and the mining should not have been affected by this and we were given both written assurances that it would not be.
Rest assured that we will always do right for our members.
This affected certain older mining facilities but did not effect our newer mining facilities
We are working to restore power to the EcoPod and move all other mining equipment.
In the meantime, we’re going to use company owned mined equipment installed in non-Giga Watt facilities to start subsidising the mining for our members. We will begin subsiding towards the end of this week. This will allow some repurchases as well.
Additionally, we will be increasing the length of the active Bitcoin mining contracts for our members by the amount of time that the equipment was not able to mine.
Our legal team is working extremely diligently to make sure that power is restored and we are working around the clock to make certain that all equipment is mining again.
With all this activity going on we are still working daily on the technical side to have a solid redeployment program and the proper APIs are being established to move this project forward.
As always the company is doing it’s very best to make sure our members come first and we are doing what is best to maximize their mining experience. More updates to come as available.