FY 2021 HIGHLIGHTS
• Gross revenue from hashing operations was $34,664,905 versus $7,993,449 in the prior year, representing a year over year increase of $26,671,456 or 334%.
• Adjusted EBITDA was $3.3 million, up from the $9.6 million loss in the previous year.
• Cost of revenue for the year was $15,801,267 (including depreciation and amortization of $2,264,892), compared to $6,878,128 (including amortization of $891,178) in the prior
• During FY 2021, the Company mined over 162,000 coins on the BSV network and 4,200
coins on the BCH network.
• Future growth secured with deposits for plant and equipment of $20.7 million.
• TAAL processed over 172 million transactions on the BSV network for the year, earning almost $1 million in additional rewards from transaction processing or 3% of total revenue.
• As of December 31, 2021, TAAL held approximately 77,000 BSV coins in treasury, compared to the 70,000 BSV in the issued guidance; this increase was due to additional rented hash remaining online in the fourth quarter.
Some interesting takes on the latest Crypto crash.
The general feeling was the 1st crash was driven more by the constant SCAMs, especially in ETH with the ICOs. Not sure I fully agree, but it was not the same as the Dot-Com crash which was around 90%
If this latest is the long overdue and final pop of the Crypto Bubble, then we still have a long way to go.
BTC around $6k .. BSV under $30.
However once over, those with real value will rise higher than ever before.
Watching for the bottom. I’m thinking by April the bottom will be in.
Add TerraNode Q1/Q2
Things to watch for TAAL early 2022
CryptoFights 2.0 and its impact on transactions ( mid Jan )
The Tether Ponzi buying BTC vs heavy selling from old accounts.. CW ?
The New Brunswick rollout ( Q1 / Q2 )
New Miners.. $35 mil re-paid.
The Robin Hood Wallet ( will allow proper BSV trading in the US ) Q1
NFT adoption.. seems to be accelerating.
The BSV transaction share. Currently over 50%.. could be 90% plus by Q2
Increased Q1 Revs fed by increased transactions. ( Q4 should be good too )
BSV Hub in Florida
Satoshi moving coins…. ( unlikely if it is CW selling off the NON Satoshi Stash ).
CW cases. There may be some small developments, but the main ones are later in the year.
Tether / BTC implosion.
El Salvador disruption / collapse of Crypto project. ( Missing coins )
Quite clear now the selling on BTC is relentless. Is this CW, or others front running… hard to tell, probably both…
I feel there is a trading opportunity to buy BTC anything under 46k and sell above $50k.. Tether is your friend buying like all good ponzy scams should. Bit like Russian Roulette tho. It will work until it doesn't.. would not recommend…
Over 2.3 million transactions now on BSV.
Massive uptick in the NFT Market place which is especially good for TAAL transaction Fees.
At this level BSV is equal to all other POW blockchains combined.
Price pressure continues on the BTC chain as Tether struggles to keep it pumped up. I strongly suspect CW is selling Non Satoshi coins into the Tether buying.
All looking good.
Toronto, Ontario; December 20, 2021 – TAAL Distributed Information Technologies Inc. (CSE:TAAL | FWB:9SQ1 | OTC:TAALF) ("TAAL" or the "Company"), a vertically integrated blockchain infrastructure and service provider for enterprise, is pleased to announce that it has closed the previously announced share purchase transaction, acquiring 100% ownership of Chief Fuels Inc., and with it, indirect ownership of a 60,000 sq/ft facility in Grand Falls, New Brunswick.
With this transaction, TAAL gains access to 50 megawatts of clean energy, which the Company expects will ultimately allow it to power up to 2 Eh/s of Bitcoin mining in New Brunswick, Canada.
Once filled to capacity, the Grand Falls facility is expected to have 50 megawatts of power to mine Bitcoin at an industrial scale.
• 50-MW energy will power up to 2 Eh/s of mining capacity
• New Brunswick based facility will become TAAL's cornerstone Bitcoin mining asset
• New Brunswick Power Corporation supplies energy to industrial and residential customers in the Province of New Brunswick that is over 80% non-emitting, over 40% from renewables
Preliminary Q4 2021 Guidance
The Company is also announcing that it anticipates, based on information currently available to management, that the financial results for Q4 2021 will include the following highlights:
• Consolidated revenue expected to be in the range of $13.75 – $14.25 million
• Approximately 70,000 BSV held in treasury at the end of the quarter
• $35 million in prepaid deposits on mining equipment, power deposits, and infrastructure for future growth.
News out too…..
Toronto, Ontario; December 6, 2021 – TAAL Distributed Information Technologies Inc. (CSE:TAAL | FWB:9SQ1 | OTC:TAALF) ("TAAL" or the "Company"), a vertically integrated blockchain infrastructure and service provider for enterprise, is pleased to announce that it has entered into a term loan agreement (the “Loan”) with a private lender (the “Lender”) providing for debt financing in an aggregate principal amount of US$10,000,000.
The Lender has made immediately available the full financing under the Loan in an amount equal to US$10,000,000. Borrowings under the Loan are secured by a general security agreement over all the assets of the Company. The security will rank pari passu with any future debt of the Company, from other lenders, up to a maximum US$100,000,000. The Loan matures on December 31, 2024 and bears interest of 8% annually which is payable quarterly at the end of March, June, September, and December of each year. The Loan may be prepaid at any time by the Company, together with all outstanding interest, after December 2, 2022.
TAAL expects to use a portion of the Loan for financing the build out of a world-class industrial scale Bitcoin mining operation at the 60,000 sq/ft facility it has committed to acquire in New Brunswick, Canada. More information can be found within the Corporate Presentation on TAAL.com [URL https://www.taal.com/investors/].
Thursday the Jury sent a note.
"Unfortunately we cannot come to a conclusion and we cannot all agree on a verdict on any of the questions."
It looks like one Jury member want to find for the plaintiffs, the other 9 are for Craig.
The Judge gave an Allen Order, which essentially tells them to make their mind up, Civic duty etc…
If they cant decide soon, it wll be a mistrial effectively a win for Craig….
Update: No decision Friday, asked back for Monday..,
Taking longer than thought, starting to look like a hung Jury / Mistrial ( actually a good result ).
Hopefully get conclusion by end of week
Comparing TAAL to Riot ( which has an MC of 4.2 Billion).
TAALs new premises will house the hashing power that is the total of what Riot has today
TAALs actual hashing power based of current announcements ( by end of Q1 2022) will be just over half that of RIOT. So room to grow in the new facility.
If TAAL had an MC of 2 billion ( which is a fair comparison) SP should be around $30
Loads of value here. Rise in BSV price following Satoshi trial will increase it further and faster.
TAAL reported Q3 financial results:
Gross revenues of approximately $12.4 million for the quarter, which exceeded the Company's previously issued guidance of $11.5 to $12 million
Revenues increased by over 80% over the previous quarter
Adjusted EBITDA for the quarter was $3.9 million, representing an increase of 500% over previous quarter
TAAL processed over 52 million transactions on BSV in the quarter, earning $411,000 from transaction processing fees, or 3% of total quarterly revenues
As of September 30, 2021, TAAL held approximately 69,000 BitcoinSV ("BSV") in treasury, compared to the 75,000 in the issued guidance; this decrease was due to funding additional deposits related to operations
Future growth secured as deposits for plant and equipment increased to $22.1 million compared to $9.3 million in the previous quarter as the company purchases mining equipment and infrastructure.
Jury still out
“If it doesn’t make sense, you vote for the defense!” - Andrés Rivero (Closing statement)
After the water incident, Rivero hit his stride. Brilliantly quoted from Luke 11:45 to a jury of elderly Cuban women about the truth being the key to knowledge - earning some needed points.
Well the closing statements are in and the Jury is deliberating. As they didn’t decide on Tuesday, I think they are back on Monday after the hols.
The plaintiffs closing arguments where very well done. Perfectly delivered. Very engaging. I still don’t feel they have made their case, but the professionalism of the lawyers cannot be denied.
The Defense started with knocking his water over and destroying his own notes. This took him off his stride for a few mins, but soon got back on track. Closed well in the end.
Huge day today in court, and i feel one bit of evidence has won it for Craig.
We knew already that a number of docs that pointed to a partnership were forged.
We know whoever forged them messed up the meta data
1) IP was linked to Jimmy Wilson, not Craig.
2) Dave sent Emails after he died
Today a 3rd mistake was revealed..
The Domain they were sent from ( Craig to Dave asking for help on Bitcoin ) was from Craigs RCJDO. This unknown to Jimmy referred to Ramona ( Craigs second Wife which he met later ) Craig himself, and his 3 children, some of which may not have been born yet. So unless you feel Craig forgot when he met his wife and when the kids were born, and the fact the domain did not exist then. He could not have sent the Email. He certainly could not have sent it when Dave was alive.
Loads of Sotashi evidence including minutes of a meeting where the precursor to Bitcoin ( Ecash ) was discussed with the accountancy firm BDO. I think this was around 2006.
Away from the case Gavin Wilson is now stating that Craig has bought some early Bitcoin addresses, so if coins move, its more evidence he is NOT Satoshi. Hmmm this from the Keys=Identity crowd.
Summing up is Tomorrow, 90 mins each side… could be done if Jury deliver verdict.. if not, they will return Monday.
A much lighter day in court, first five or so witnesses put through. The standout was Craigs Uncle, an absolute gent.. talked about the past, including how Craigs grandfather worked with Turin on the Enigma code ( what a family ). Turin is my personal hero. As a UK citizen, i consider him the greatest Brit that ever lived.
Loads of Satoshi evidence, people who knew the early days, saw early drafts etc…
Here is my contention, and its not on the trial. Calvin put out a tweet that this would be better handled by the COPA case as the lawyers were blocking the Satoshi story coming out. I don’t normally disagree with Calvin, and i think I understand his concern.
Yesterday at the very end of the day the lawyers for the plaintiffs objected to just about every sentence the witness said. To the point i think he didn’t know why he was there if he could not answer questions. I think Calvin saw that as the MO going forward…. It wasn't. i think it was a point in law, some issue that was simply not allowed. Many objections today, but not on that scale.
Today Craig was depicted as human, family , friends, a life. Not just a polymath.
A good day for him.
The Plaintiffs finally rest, and today was more or less a continuation of yesterday trying to prove Emails are forgeries and by implication it was Craig that forged them. However they seem to have made two massive errors that I am sure the defence will pickup on.
1) The forged documents / Emails are the same ones they are relying on to prove Dave and Craig had a partnership and discussed Bitcoin / Tulip Trust etc. so if the are all forged ( FAKE ) they literally have no case. They could possibly try to prove Craig a forger which may be used in future cases, but they blew a huge hole in this one.
2) some of the forged Emails had an IP address attached. Traced to Western Australia. Although Craig lived in Australia at the time, he was over 1000km from where this IP was registered. If fact the ONLY person linked to this case that lives near the IP registration is Jimmy Wilson ( who testified for Iras side early on ). Jimmy was a CFO for Craigs companies for about a year before Craig forced him to resign. Its looking like he teamed up with Ira and maybe these Emails were created as a way to bolster the case. However the forging was sloppy. Ip addresses plus meta data showing Dave signed after he died. Craig would have done a much better job of it.
If this can be proved, especially if they can get Ira back on the stand and break him, he could be in a lit of trouble.
Thinking logically. How would Craig have Daves PGP keys anyway. Ira could certainly have them. We know he had access to Daves Email account as he sent himself Birthday messages from his dead brother.
Still looking like it will be done by ThanksGiving…
That would be nice…
Early retirement at that level ….
New PR out… Huge News
TAAL Acquires 60,000 sq/ft Facility to Mine Bitcoin at an Industrial Scale
50-MW energy will power up to 2 Eh/s of mining capacity
New Brunswick based facility will become TAAL’s cornerstone Bitcoin mining asset
New Brunswick Power Corporation ("NB Power") supplies energy that is over 80% non-emitting, over 40% from renewables
Today, TAAL announced that it has signed a definitive share purchase agreement to acquire 100% of the shares of Chief Fuels. With this acquisition, TAAL adds significant Canadian clean energy resources to power up to 2 Eh/s of blockchain computers in New Brunswick, Canada.
Upon completion of this acquisition, TAAL will be the owner of a 60,000 sq/ft facility in Grand Falls, New Brunswick, and will partner with NB Power to build out 50 megawatts of power to supply a dedicated Bitcoin mining and transaction processing operation.
See the full press release here: https://www.taal.com/news/taal-acquires-60000-sqft-facility-mining-btc/.
Craig has now completed his testimony, they are now questioning their own guy on alleged Emails signed with Daves PGP keys ( After he died ) so certain forgeries… my first comment is that today was a solid win for Iras side. Probably their first. The plaintiffs should be way ahead now before the defence puts its case. I feel they are indeed ahead after today, but not where they should be.
Apart from Craig getting pulled up by the Judge for use of bad language, not much to add. Loads of accusations, but nothing that really stuck.
The Email / PGP signing is beyond doubt the biggest piece of evidence the plaintiffs have. They cant prove Craig forged them, but they look terrible on the surface. Essentially Dave saying to Craig, you have all the Bitcoin, I don't need / want it.
The other alleged forgeries related to the ATO I would say didn't stick, as he won that case, and the investigators were fired on corruption charges. They were also quite capable of making forgeries. It was also in their interest to do so.
The ones between Dave / Craig are something else entirely. First It would be hard to argue that the Emails were not forged. When the Defence comes in I expect them to argue it was Ira that did it ( for a start how would Craig have Daves PGP Keys ? ). Iras motive by doing that would be to imply there was some Bitcoin, plus that Dave had some ownership… Very messy as I doubt it can be proved either way.
Anyway Plaintiffs should be complete tomorrow, and the defence starts.
This is where it gets interesting.
Excellent article explaining who is funding the Ira / Craig case.
As mentioned before, Bitfinex is the interesting one for me, as they are behind the short suppressing the BSV price. With any luck, when the coins move, even they will be forced to cover.
Last time the price went up, we were a little over $400, at that level they just shorted more to bring it back down. I feel we would need at least $1000 before they started to panic…