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could be a good day here again---at 15 i will be tempted to give them some more--tmonkey
LET SOMe GO TOO EARLY -but still holding rest for the big prize---tmonkey
got some mid 9s and now i am holdin on to my last shares---maybe someone is tryin to buy up the float---i helped him out a bit---tmonkey
wasnt the plan but this pps is too attractive ---i am giving them a few more as i have a nice spot tu use the $ on before ong weekend--tmonkey
l-2 more normal now! nice we sld when there were big bids!!!and i have places to put the $$ right away-----tmonkey
still have a nice position to take advantage of that but was too good to pass up on this rise today!------tmonkey
I have too many shares to flip my position back and forth.
I'm holding but resizing as shares move. There is 10 bagger potential here if they do everything they say they will do. If bitcoin prices stay firm and they get their nasdaq listing I can envision panic buying. That would in turn be quickly followed by a share offering, and we would be on our way.
At least that's the way I see it.
i see the l-2 is really different today-i did my buying in the 3s also!!------btc dn now so maybe we rebuy next wk???---tmonkey
I sold a few I bought in the 3's recently. It would be irresponsible to not take some profits, but I'm holding on to a non-trivial core position. One thing I note is we are seeing meaningful blocks on the bid in the high 6's. Very different than walls of shares on the ask a week or two ago.
i have alot here and will lighten up a bit at these prices!!-still will have a core----tmonkey
It apparently hit a record overnight so that might have drawn attention.
The other miners are having a good day mostly. There could be news pending of course. There are several near term catalysts or it could just be volatility or the price differential between MKTY and other miners could be getting someone's attention. I'm not overthinking a 1 day move.
must be more???.btc actually down a bit on day-----tmonkey
Bitcoin hitting records
what is going on today???
I think the uplisting is more likely to happen than not, but I have a feeling they will slip the date. These guys aren't fly by night operators. Brookstone is a legitimate entity, and they have 40% of the shares worth of incentives to keep their promises. I think they realize how much money is on the line here. If I have the opportunity to potentially make 100's of millions I am going to be very attentive to the details needed to make that happen.
that is when i would probably add again -when more eyes are on this and volume comes in---i have seen these uplisting promises not happen more than take place so i dont hold my breath----tmonkey
I think we want a higher price yes.
My guess is that comes with a nasdaq listing that would get eyes on the stock.
They said they intend to do that listing this quarter. We will see if they keep that promise.
so if they cant get the pps up from here we are screwed w dillution at mini price?? maybe soluna can pla y a part here??-tmonkey
Keep in mind they plan to get to 50MW this year as in the next 10 months. The cost of the servers alone will be 10’s of millions. My guess is building their own data center will cost 150 million.
I promise they need a capital raise to get to where they plan to be this year.
i was under the impression that everything in washington stare is running smoothly with the ok´lder machines and the project in s.e usa is a ways off??--and they have a good income from the mechanical division to meet oncoming costs--tmonkey
I think what’s immediately important is what they pay for power. If MKTY is to be believed they will be paying a lot less than others.
They will definitely be buying lots of miners if they complete their plans. Everything in inventory isn’t nearly enough to consume 50MW.
thanks---i had mara and riot way back in the day-.40-and .75-----sls way to early byt w mega profits-both outfits keep upgrading to the newest equipment---providing mega hash rate....maybe we will get some replacements w btc rocketing???-any mention of upgrades would get us moving-i have a nice position here and am in no hury to take profits---tmonkey
Figure an S9 pulls about 1350 watts which suggests they may be running 1851 machines. Figure less to account for other network hardware and let's say 1800 machines.
There are calculators all over the web to let you plug in processing power, electricity costs, and bitcoin price to estimate profitability. I think they pulled a couple hundred thousand last quarter, but the price and capacity should be higher. I think I came out to about 500k a quarter when I plugged this stuff in, but I don't recall the exact number. We are probably talking 4 or 5 coins a month.
The real question is can they get to the capacity of MARA, RIOT, BTBT. Those companies have 10 figure market caps. Their plans as of right now are to be at 50MW by end of year. MARA is planning for about 200MW IIRC. It's easy to see the attraction of something trading at 1/80th the market cap and planning to produce at 25% of the level of larger competitors. At parity that would suggest an MKTY market cap of about a billion dollars or 100 dollars a share. The truth is there would have to be dilution to make their business plan work so the question how much stock do they need to issue and at what price.
If they can get the price up before doing an offering, and let's say they only had to dilute by 100%, then you are looking at say 20 million shares which would be $50 all else equal. The caveats there are the fact they may not be able to get to their planned 50MW, dilution could be a lot worse than what I described, and bitcoin prices or the market caps of competitors could drop.
The attraction is still that there is a possibility for this thing to be 10 times higher than it is if everything works perfectly.
i have no idea what the s-9 can do-wish they would just come out with what kind of and how many coins per month-a bit easier for the common shareholder to understand do you have a guess here? -thanks----tm0nkey
They already told us. Last we heard they were operating at about 2.5mw. You can take the power consumption of an s9 and draw ballpark conclusions about what their revenue run rate is.
even with old machines they must be mining something??-maybe an update on what they mine and capasity for future mining?????silence here leads one to think they arent so active----tmonkey
turtle gettin legs today????----tmonkey
btc pushing for 50 k!---this turtle should be running faster---i would think 6-7$$ this week at least--there arent that many shares out there!!-tmonkey
i hope they are all running at full speed what ever thier capasity is!!!---i really like that soluna and this is the only way to get a piece of it---tmonkey
Kind of crazy but they bought approximately 5800 miners for 112k from Giga Watt out of bankruptcy. That is about 20 dollars a server. A lot of S9's in there so not the latest hardware, but that is silly cheap.
wow---good buy--real red day here--someone wants out at any price but probably has next to free shares to dump---i should to look to bring my avg down here soon before the selling dries up--- --tmonkey
I got some as low as 3.30 today
No idea who our seller is. Anyone under 5% doesn't have to file so we can only see people with a half million shares or more.
The last large filer I see outside of the brookstone guys is Peng K. Lim who owned 280,000 shares back in 2016.
https://www.sec.gov/Archives/edgar/data/64463/000137647416000566/0001376474-16-000566-index.htm
He is a former director so seems like a good candidate.
anyone know where the selling is coming from??-bt some this am and took an instant haircut! thanks---tmonkey
Maybe. I really want the business plan. This was originally targeted for end of Jan I believe. A PPA matters, but where they plan to get a couple hundred million dollars is orders of magnitude more important.
I assume the intent is to uplist, run the price up, and do a secondary. That makes the uplist by far the most important piece of news near term. I don’t think the stock is going anywhere on the pinks, and they will dilute themselves into oblivion at these share prices.
This is their first PR with a new IR firm, I think this was essentially a practice run, as they also wanted ro address some FAQs. I think this is a rational first step to the plan to build the valuation up to comparable level of their peers.
I believe many more significant news items are in the works, like their next PPA for their new facility.
thanks zen-nice to see life here -you have been with this one some time!---tmonkey
Was hoping for something a bit more meaty. Some of this was stuff we already knew. I have assumed the plan was to get the nasdaq listing, get a big price bump, and do a secondary.
They really need that higher price IMO.
MKTY: EcoChain, Inc. Shares Answers to Common Investor Questions
PR Newswire
ALBANY, N.Y., Feb. 3, 2021
ALBANY, N.Y., Feb. 3, 2021 /PRNewswire/ -- EcoChain, Inc. ("EcoChain" or the "Company"), headquartered in Albany, New York, a wholly owned subsidiary of Mechanical Technology, Incorporated, a publicly traded company (OTCQB: MKTY) shares answers to common investor questions.
MTI Logo (PRNewsfoto/Mechanical Technology, Incorpor)
As part of the Company's ongoing efforts to keep investors informed during this dynamic time for the Company, MKTY issued the following shareholder update:
On December 23, 2020, the Company wrote to its shareholders to provide a yearend update and a blueprint for its 2021 objectives. During the past several weeks since that letter, we've received numerous questions from our shareholder base. To assure adequate communication with our shareholders, we are releasing this update in a framework to easily address several of the inquiries we have received:
Crypto Coin Markets
1) Will EcoChain hold the Bitcoin or Alt coin it mines on its balance sheet? Will EcoChain use any of its cash to buy BTC or other Alt coins?
Currently, EcoChain's business plan does not contemplate direct ownership of BTC or ALT coins mined, nor does it intend to use its capital to purchase BTC or ALT coins.
EcoChain has announced that it bought land to build out a 25MW ultra-low cost green data center. Although the Company has not yet announced the power cost, its current estimates lead it to believe that the ultimate power cost will be significantly below that of several well-known public companies that also compete in this space. If the Company's estimates are correct, the ultra-low cost will enable EcoChain to optimize its capital deployment since it could easily buy lightly used current generation processors, monetize second and third generation processors and avoid paying a premium and waiting for the latest generation miners. EcoChain expects to have a mix of equipment and supply arrangements that will seek to optimize its return on invested capital. Ultra-low cost power gives EcoChain that possibility.
2) Is the Company concerned about Crypto coin prices and that they may collapse?
Crypto prices are volatile. The Company continues to monitor the movement of crypto valuations and its potential impact on its business plan. To that end, EcoChain's plan is to construct ultra-low cost data centers such that they would have been profitable even through the last crypto winter and ideally be poised to weather future periods of volatility and potential significant declines.
Furthermore, the Company believes that mining profitability and return on invested capital depends on more than Crypto prices --network difficulty and the cost of equipment are also key variables. That is why rising, static or declining crypto prices don't always directly impact profitability in a straight line Additionally, as noted above, because the Company does not contemplate holding crypto on its balance sheet, we believe our business plan is better suited to deliver more stable returns and hence share prices; however, there are no guarantees that our expectations will be successful.
The MKTY Organization, Including Soluna and EcoChain
1) Please describe the relationship with Soluna and how related expenses are billed and passed through the income statement?
Soluna is a key technology provider to EcoChain. Brookstone Partners, which owns 39% of MKTY, controls about 62% of Soluna. Any and all agreements between the Company and Soluna are negotiated by independent directors of the Company, directly with the CEO of Soluna and represent arms-length practices. This is more fully described in our public filings.
Soluna is paid a per MW annual management fee, a percent of the profits once EcoChain has its capital returned with a pre-specified rate of return, and an initial transaction/set up fee. Soluna does not provide the personnel at the data center that service the physical machines. Soluna directs those personnel. Currently those resources on the ground are retained by EcoChain on a contract basis, but as the Company scales up it will periodically reassess this arrangement.
2) What is the CEO's current compensation arrangement?
Michael Toporek is an employee at will. His total cash compensation is $170,000. He is also a Director, and as other directors do, he receives the same compensation in shares and options. Brookstone Partners, an investment firm he helps to manage, controls about 39% of the Company which currently provides sufficient alignment of incentives. Any changes to Mr. Toporek's compensation or our company's relationship with Brookstone or an affiliate of Brookstone, will be prominently reflected in our filings with the SEC.
3) Will EcoChain ever need its own employees, or will all activities always be handled by Soluna?
EcoChain continuously assesses its resources and the economics of outsourcing or insourcing. As such, current contract relationships may change with certain activities brought in-house as the Company continues to scale and the economics of insourcing become more cost effective. The goal is to retain the best talent economically.
4) How many Soluna employees are actively working on EcoChain activities?
Soluna has four people that are actively working on matters for EcoChain in addition to certain engineers and consultants which are regularly retained.
About EcoChain, Inc.
EcoChain is engaged in developing and operating ultra low-cost green data centers focused on crypto currency mining. For more information about EcoChain, please visit https://ecochainmining.com/.
Forward-Looking Statements for Mechanical Technology, Incorporated:
This communication contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect management's current expectations, as of the date of this communication, and involve certain risks and uncertainties. Forward-looking statements include statements herein with respect to the successful execution of the Company's business strategy. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of various factors. Such risks and uncertainties include, among other things, our ability to establish and maintain the proprietary nature of our technology through the patent process, as well as our ability to possibly license from others patents and patent applications necessary to develop products; the availability of financing; the Company's ability to implement its long range business plan for various applications of its technology; the Company's ability to enter into agreements with any necessary partners; the impact of competition, the obtaining and maintenance of any necessary regulatory clearances applicable to applications of the Company's technology; and management of growth and other risks and uncertainties that may be detailed from time to time in the Company's reports filed with the Securities and Exchange Commission.
Please visit https://www.mechtech.com under News & Events.
Contact Information:
Lisa Brennan
518-218-2592
lbrennan@mtiinstruments.com
Kirin Smith, President
PCG Advisory, Inc.
646.823.8656
Ksmith@pcgadvisory.com
not alot of action on this board---all red today--does any one have an idea who has shares to dump here and if so a guess to when it could stop???----just guesses welcolm-thanks---tmonkey
i wonder if alot of their machinary is obsolete from years ago-and would like to know ther present mining capasity of the different cryptos they mine-any ideas here from the whole board??---tmonkey
This video tour of the GigaWatt facility gives a little insight into what EcoChain might have gotten from GigaWatt's bankruptcy sale(s):
The company bought GigaWatt's intellectual property and certain other property and rights associated with GigWatt's crypto mining operation. The acquisition was approved by the United States Bankruptcy Court for the Eastern District of Washington and was consummated by EcoChain on May 20, 2020. As previously announced by MTI, EcoChain purchased the subject GigaWatt assets for cash consideration of $200,000 and will be assuming certain contractual obligations of GigaWatt related to existing leases and utility power supply.
https://www.prnewswire.com/news-releases/mechanical-technology-incorporated-announces-closing-of-previously-announced-gigawatt-acquisition-301063081.html
Here is the general backstory from The Seattle Times, most interestingly noting that GigaWatt took in some $47 million building their business:
https://www.seattletimes.com/business/washington-bitcoin-pioneer-seeks-chapter-11-protection/
ECOchain swooped in for more cheap equipment from the GigaWatt bankruptcy in 10/2020 (read items 24 - 26):
https://casetext.com/case/in-re-giga-watt-inc
Bitcoin mining?? anyone with additional info? thanks
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=161091569
Does anyone here know if MKTY has any position remaining in PLUG?
If so, where can one verify? Thanks!
What happened to this belief? Because I believe it.
$MKTY Mechanical Technology, Incorporated, is Committed to Transparency!
Press Release | 01/06/2021
Mechanical Technology, Incorporated, is Committed to Transparency!
PR Newswire
ALBANY, N.Y., Jan. 6, 2021
ALBANY, N.Y., Jan. 6, 2021 /PRNewswire/ -- Mechanical Technology, Incorporated ("MTI" or the "Company"), a publicly traded company (OTC Pink: MKTY) headquartered in Albany, New York, continues their philosophy of transparency as they enter 2021.
MTI Logo (PRNewsfoto/Mechanical Technology, Incorpor)
The management team at MTI took the opportunity to accept a request for an investor phone call. In the interest of fairness and transparency they have adopted a process of recording and posting investor inquiry meetings to their website as well as filing a Form 8-K. The discussion mainly focused on management strategy and opportunity around both the Instruments division and the EcoChain division. See the Form 8-k filing on the SEC EDGAR website and the audio posting on the Company's website, https://www.mechtech.com/investors/.
About MTI
MTI is the parent company of MTI Instruments, Inc. and EcoChain, Inc. Through MTI Instruments, MTI is engaged in the design, manufacture and sale of test and measurement instruments and systems that use a comprehensive array of technologies to solve complex, real world applications in numerous industries, including manufacturing, electronics, semiconductor, solar, commercial and military aviation, automotive and data storage. Through EcoChain, MTI is developing a cryptocurrency mining facilities powered by renewable energy that integrate with the bitcoin blockchain network. For more information about MTI, please visit https://www.mechtech.com.
Forward-Looking Statements for Mechanical Technology, Incorporated:
This communication contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect management's current expectations, as of the date of this communication, and involve certain risks and uncertainties. Forward-looking statements include statements herein with respect to the successful execution of the Company's business strategy. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of various factors. Such risks and uncertainties include, among other things, our ability to establish and maintain the proprietary nature of our technology through the patent process, as well as our ability to possibly license from others patents and patent applications necessary to develop products; the availability of financing; the Company's ability to implement its long range business plan for various applications of its technology; the Company's ability to enter into agreements with any necessary partners; the impact of competition, the obtaining and maintenance of any necessary regulatory clearances applicable to applications of the Company's technology; and management of growth and other risks and uncertainties that may be detailed from time to time in the Company's reports filed with the Securities and Exchange Commission.
______________________________________________________________________________
Please visit https://www.mechtech.com under News & Events.
Contact Information:
Lisa Brennan
518-218-2592
lbrennan@mtiinstruments.com
Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/mechanical-technology-incorporated-is-committed-to-transparency-301202312.html
SOURCE Mechanical Technology, Incorporated
Megazoo, the short answer is no. Ecochain has a power purchase agreement with with a hydroelectric power generator, they do not own their own generating facilities, but they seek to purchase power from underutilized renewable energy sources.
However, MKTY does have equity ownership in Soluna, who is opperating MKTY's Ecochain mine, and seeks to develop their own energy generation sources for blockchain mining.
https://www.soluna.io/
Zen, company file form 10. Looks like they are already mining bitcoin. So is it true to say that MKTY produces its own energy to mine its own coins, and then sells it on coinbase. Aren’t they also providing energy for other miners.
Thanks
This is a $100 dollar+ stock that no one follows , Thats good for now that all are blind....Flood gates will open soon....
This company does has some pretty strong financial performace in their core business, but its the comps in the crypto mining space that will drive further gains from here
This is a great summary of the potential for being rerated as a crypto mining interest:
http://www.livingoffthemarket.com/lotm-why-we-like-mkty-vs-other-crypto-miners/
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