This was a share selling pump and dump from the beginning. They knew they had no way of raising the funds needed to mine. They bought up land using money raised by selling shares, gave half of it to JJ through shares, paid other insiders with shares, and let everyone dump whenever they could. Then apparently some issued themselves shares and dumped those too.
They were thinking, "We'll make whatever deal keeps peeps buying our shares."
Sadly, it worked for a long, long time.
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